Gryphon Gold Corp GYPHQ

Metals & Mining Gold

Gryphon Gold Corporation is a mine development company. The Company's principal asset is Borealis property. The Borealis Property is 27.5 square miles located in the Walker Lane gold belt of western Nevada. The Company's land position covers approximately 17,600 acres for the Borealis property and over 60 Nevada exploration properties, which cover approximately 70 square miles in the state's gold trends. The Borealis property has approximately 1.4 million ounces of measured and indicated gold resources, and approximately 1.1 million ounces of inferred gold resources have been accredited to the one square mile Central Borealis zone. Its Borealis property has over five other prospective zones that are being explored, which have the potential to host significant gold resources. The Company continued drilling on the Borealis property in the Graben resource, and in the central and western pediment areas.

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Gryphon Gold Corp

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Comment by red911on Feb 21, 2013 6:14pm

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Post# 21025429

RE: Some questions answered

Sorry but I don't buy any of this. If Waterton was truly a 'partner' they would not have imposed a repayment date that is impossible to meet without raising additional funds. GGN is still in a very vulnerable situation. That is not how 'partners' work. So JTO says they will now issue equity to pay this $5.6M? 100M shares at 5 cents or a further 50% equity dilution just to survive after just losing 60% of the property. Great news. This when we hear they had GMP beating down their door in October offering more money if needed. If they had done so, say 40M shares at 10 cents they would have had more than enough to get through the convenient boiler failure. Kind of strange for such a conservative group, no? Disgusting IMO.>

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