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Sulliden closes strategic investment with Agnico-Eagle Mines Limited

April 12, 2013

Download this Press Release (PDF 132 KB)

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

TORONTO, April 12, 2013 /CNW/ - Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (TSX: SUE) (BVL: SUE) (OTCQX: SDDDF) has closed the $24,000,000 private placement financing with Agnico-Eagle Mines Limited ("Agnico-Eagle") announced on April 9, 2013.  As a result of the transaction, Agnico-Eagle owns 9.96% of Sulliden's issued and outstanding shares on a non-diluted basis.

A total of 26,966,292 units were sold to Agnico-Eagle at a price of $0.89 per unit. Each unit is comprised of one common share and 0.7 of a common share purchase warrant.  Each whole share purchase warrant entitles Agnico-Eagle to acquire one common share of the Company at a price of $1.31 until April 12, 2015.  In the event that all warrants are exercised, an additional $24.73 million will be raised.

Pursuant to the unit purchase agreement dated April 8, 2013 between the Company and Agnico-Eagle, subject to certain conditions, Agnico-Eagle has the right for a period of two years to participate in equity offerings by the Company in order to maintain its pro rata investment in the Company.

All of the securities issued pursuant to this private placement, including the common shares issuable upon the exercise of the warrants, are subject to a mandatory four-month hold period from the date of closing.

About Sulliden

Sulliden Gold Corporation Ltd. is a Canadian precious metals company focused on the exploration and development of its wholly owned gold and silver Shahuindo Project, located in a prolific gold producing district in northern Peru.  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.:

Peter Tagliamonte
Chairman & CEO

Justin Reid
President

Caution regarding forward-looking information:

These securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes without limitation, statements regarding the terms and use of proceeds of the private placement, the impact of the private placement on the Company, the receipt of all required regulatory approvals, next steps for the property, progress in development of mineral properties, projected capital and operating expenses, future metal prices, the future financial or operating performance of the Company 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.

Investor Contact

Toronto, Canada
65 Queen Street West, Suite 800
Toronto, Ontario M2H 2M5

Caroline Arsenault
Investor Relations Manager
Telephone: 1 416 861-5805
Email: info@sulliden.com

Lima, Peru
Calle San Martín 845, oficina 201
Miraflores - Lima 18

Javier Fernandez-Concha Stucker
Peru Country Manager|
Telephone: 511 651-2500