TORONTO, ONTARIO--(Marketwire - March 13, 2012) - Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (TSX:SUE)(OTCQX:SDDDF)(LMA:SUE) is pleased to announce that it has acquired a 100% interest in the Vikingo mining concessions located adjacent to its Shahuindo Project in northern Peru. The acquisition of the Vikingo mining concessions provides the Company with important new land on potential strike length extensions of the current mineral deposit of the Shahuindo property (see Figure 1). In addition, Sulliden also successfully negotiated an amendment and extension of its previous right to purchase the Atimmsa mining concessions. These two new agreements significantly increase Sulliden's land position.
To view Figure 1 - Sulliden New Land Position at the Shahuindo Project, Peru, please visit the following link: http://media3.marketwire.com/docs/sue0313fig1.jpg.
, President and CEO of Sulliden, commented, "We are pleased to have increased our land position at Shahuindo as we believe this to be an important step in support of the development of the mining project and provides excellent new opportunities for further exploration."
To view Figure 2 - The Shahuindo Project is located in a world-class mining district in northern Peru, please visit the following link: http://media3.marketwire.com/docs/sue0313fig2.jpg.
Sulliden is a Canadian-based precious metals company focused on the exploration and development of the Shahuindo Gold and Silver Project, located in a prolific gold producing district in northern Peru. A positive Preliminary Assessment for the Shahuindo Project was completed in February 2010 and a Feasibility Study is currently underway. While the Company progresses towards its goal of becoming a gold producer, a significant focus is being placed on exploration drilling. The current mineral deposit is open in all directions and at depth, and the Company plans to further drill the property in 2012 to continue the mineral expansion. Sulliden is led by a strong management team with the proven ability to develop, finance and operate mining projects and is poised to generate superior value for its shareholders.
On behalf of Sulliden Gold Corporation Ltd.:
Peter Tagliamonte Stan Bharti
President and CEO Chairman
For further information on Sulliden please visit the company website at www.sulliden.com.
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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 drilling results, 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sulliden Gold Corporation
Investor Relations Manager
Sulliden Gold Corporation
Vice-President Corporate Development
Source: Sulliden Gold Corporation