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CONSTRUCTION OF ELECTRICAL FACILITIES TO COMMENCE
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PROJECT UPDATE CONFERENCE CALL TO BE HELD APRIL 24, 2013
TORONTO, April 16, 2013 /CNW/ - Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (TSX: SUE) (BVL: SUE) (OTCQX: SDDDF)
receives approval of its environmental impact study ("DIA") and obtains
a construction permit for the switchyard and electrical facilities from
the Ministry of Energy and Mines of Peru. With the approval granted and
the permit in place, the Company will move forward with the
construction of the electrical project.
Peter Tagliamonte, Chairman and CEO of Sulliden, commented, "The start
of the switchyard construction marks another important step in the
advancement of the Shahuindo Project. The new electrical facilities
will provide low cost grid power to the Shahuindo mine. In addition,
the new facilities will help improve access and quality of electrical
power in the province of Cajabamba."
The Shahuido project is a straightforward open pit heap leach recovery
mine with low capital requirements and bottom quartile operating
costs. The capex of the mine is an estimated $131.8 million, which
will support a mining rate of 3.65 million tonnes per year and annual
production of approximately 90,000 gold equivalent ounces at projected
average cash operating costs of $552 per ounce.
On September 6, 2012, Sulliden awarded an Engineering, Procurement and
Construction ("EPC") contract to Abengoa Peru S.A. ("Abengoa") for the
construction and installation of the electrical substation. The
following month, October 2012, an electrical connection agreement was
completed and signed with Abengoa for electrical power supply to the
Shahuindo mine.
Conference Call Announcement
On Wednesday April 24, 2013 at 11:00 AM EST, Sulliden's management team
will host a conference call to provide a general update on the Company
and discuss recent news and upcoming events. Following management's
comments, the lines will be opened for a period of Q&A.
Conference call information:
Date: April 24, 2013
Time: 11:00 AM EST
Toronto dial-in number: 647-427-7450
Toll Free dial-in number: 1-888-231-8191
Conference call replay information:
Toronto dial-in number: 416-849-0833
Toll Free dial-in number: 1-855-859-2056
Pass code: 37186832
Replay Availability: April 23, 2013 to May 21, 2013
Qualified Person
Joe Milbourne, Vice President of Operations and Technical Services for
Sulliden is the Company's designated Qualified Person for the purposes
of the Feasibility Study. Mr. Milbourne has reviewed and approved the
scientific and technical contents of this press release.
About Sulliden
Sulliden Gold Corporation Ltd. is a Canadian development-stage company
focused on bringing to production its low-cost gold and silver project
located in a prolific gold belt in northern Peru. Since 2009, the
Company has delivered two mineral resource updates, completed a
Preliminary Economic Assessment and Feasibility Study, and is now in
the advanced stage of permitting. Sulliden is listed on the Toronto
(TSX) and Lima (BVL) stock exchanges under the symbol "SUE", as well as
the premier tier of the U.S. Over-the-Counter (OTC) market (OTCQX)
under the symbol "SDDDF". For more information about Sulliden, please
visit www.sulliden.com.
On behalf of Sulliden Gold Corporation Ltd.:
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Peter Tagliamonte
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Justin Reid
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Chairman & CEO
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President
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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
impact of the DIA approval on the company and its implications on the
permitting process and, the size and quality of the company's mineral
resources, progress in development of mineral properties, future
capital and operating expenses, future metal prices, the future
financial or operating performance of the Company, the prospective
mineralization of the properties, planned exploration programs and
anticipated production schedule. 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; other risks of
the mining industry and the risks described in the annual information
form of the Company. 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.
SOURCE: Sulliden Gold Corporation Ltd.
