TORONTO, ONTARIO, Nov 06 (MARKET WIRE) --
Sulliden Gold Corporation Ltd. ("Sulliden" or the "Company") (TSX: SUE)
is pleased to announce that the Company's shareholders approved the
Company's change of name to Sulliden Gold Corporation Ltd. at a meeting
held September 17, 2009. As of market open today, the Company will
commence trading on the TSX under its new name, "Sulliden Gold
Corporation Ltd." The Company's ticker symbol remains unchanged.
Peter Tagliamonte, President and CEO commented "As the Shahuindo Gold
Project progresses, we think the name Sulliden Gold Corporation better
reflects the Company's focus on development, rather than exploration, as
we move towards our goal of becoming a gold producer."
About Sulliden
Sulliden is a Canadian based mining company focused on the development
and exploration of the Shahuindo Gold Project located in northern Peru,
one of the world's most prolific gold and silver producing districts.
World-class gold mines in the region include Barrick Gold's Lagunas Norte
Mine, 30 km to the south, (1.2 million ounces of gold produced in 2008),
and the Yanacocha Mine operated by Newmont Mining Company, 80 km to the
north (1.8 million ounces of gold produced in 2008).
The Shahuindo Gold Project has a NI 43-101 compliant Mineral Resource
Estimation completed by Met-Chem Canada Inc. in 2005 that estimates 38
million tonnes grading 0.95 grams per tonne of gold and 23 grams per
tonne of silver of indicated resource (1.2 million ounces gold and 28
million ounce silver) and 17.2 million tonnes grading 0.62 grams per
tonne of gold and 12.83 grams per tonne silver in the inferred category
(342,000 ounces gold and 7.1 million ounces silver) (See Sulliden Press
Release of April 29, 2005 for details regarding the resource estimate).
In March 2009, the five-year legal dispute that disrupted the Shahuindo
Gold Project was resolved. With the current resolution, Sulliden now
holds 100 percent registered and undisputed ownership of the Shahuindo
property and has secured exploration options on sixteen adjoining mining
concessions.
In April 2009, the Board of Directors appointed a new Management team
with the focus and ability to develop, finance and operate mining
projects. With a strong strategic plan to advance the development of its
Shahuindo Gold Project and potential for mineral resource expansion,
Sulliden is positioned to generate superior value for its shareholders.
The Mineral Resource Estimation was completed by Met-Chem Canada Inc. in
2005 and is available under the Sulliden profile on SEDAR at
www.sedar.com.
Figure 1 Shahuindo Project location map is available at the following
link:
http://media3.marketwire.com/docs/sulliden%20img.jpg
On behalf of Sulliden Gold Corporation Ltd.
Peter Tagliamonte Stan Bharti
President and CEO Chairman
For further information please visit the company website at
www.sulliden.com.
If you would like to be added to Sulliden's news distribution list,
please send your email address to contact@sulliden.com.
Caution regarding forward-looking information:
This press release contains "forward looking information" within the
meaning of applicable Canadian securities legislation. Forward looking
information includes without limitation, statements regarding the future
financial or operating performance of the Company, the size and quality
of the company's mineral resources, progress in development of mineral
properties, future capital and operating expenses, capital and mine
production costs, future metal prices and treatment and refining charges,
the financial results of the company the future financial or operating
performance of the Company, the prospective mineralization of the
properties and planned exploration programs, the issue of permits, future
production and sales volumes, capital and mine production costs, demand
and market outlook for metals, planned exploration programs, anticipated
production schedule and terms and the availability and likelihood of
future acquisitions. Generally, forward looking information can be
identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or
state that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different
from those expressed or implied by such forward-looking information,
including but not limited to: general business, economic, competitive,
geopolitical and social uncertainties; the actual results of current
exploration activities; acquisition risks; and other risks of the mining
industry. Although the Company has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward looking information. The Company does not
undertake to update any forward-looking information, except in accordance
with applicable securities laws.
Contacts:
Sulliden Exploration Inc.
Scott Moore
Vice President Corporate Development
(416) 861-5903
Sulliden Exploration Inc.
Caroline Arsenault
Manager Marketing and Investor Relations
(416) 861-5805
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