**News**
Pre-feasibility Study coming sooner than later!
, --(Marketwire - ) -(TSX VENTURE:SSP) (Sandspring, or the "Company") is pleased to announce the completion of resource definition drilling at the in , . The Company also reports significant progress in the advancement of the Pre-feasibility Study (PFS) for Toroparu, which is expected to be completed in early 2013.
Since the last resource update reported in January of 2012, Sandspring completed an additional 55,100 meters of resource definition drilling that increased the drill hole database by more than 40%. The objective of this in-fill drill program was to upgrade inferred resources to measured and indicated. As described in recent press releases, zones of higher-grade mineralization were confirmed and extended in the Main East Zone of Toroparu, where initial mining is planned.
Additionally, further drill results in the recently discovered "South East Zone," located 1.2 km southeast of Toroparu, have confirmed continuity of gold mineralization within this satellite deposit, which will be included in the next resource update in the PFS.
The PFS mine plan optimization aims to increase head grade by stockpiling and selectively processing higher-grade resources earlier in the mine life. A staged development execution strategy that focuses on processing saprolite (oxide) resources during primary fresh rock (sulphide) mill construction is being considered. This approach is designed to (i) reduce initial capital costs and execution risk and (ii) provide earlier cash flow to accelerate payback of initial capital investments.
In Sandspring achieved a major milestone by obtaining its permit from the to begin construction. Under the terms of its mineral development agreement with Sandspring, which defines all operating and fiscal conditions for the , the Government of has also agreed to grant a large-scale mining license authorizing Sandspring to commence commercial production once economic feasibility of the project has been demonstrated. The Company intends to complete the application process for a large-scale mining license once the pre-feasibility study is completed.
is a Canadian junior mining company currently in advanced exploration and pre-feasibility assessment of the multi-million ounce Toroparu Gold Deposit in the of . Visit Sandspring's website at www.sandspringresources.com.
Additional information on Sandspring can be viewed on SEDAR under the Company's profile atwww.sedar.com or on Sandspring's website at www.sandspringresources.com.