Montreal , Canada – April 27, 2004 . Sulliden Exploration Inc. (TSX: SUE) is pleased to announce that it has commenced drilling at its Shahuindo gold/silver project in the Cajamarca district of northern Peru .
Drilling has begun on the eastern section of the property, approximately 1 km from the final drill hole of the first phase drilling program completed last year. Recent soil geochemistry and geophysics have suggested the potential continuity of the mineralization to the east and to the north, resulting in expansion into areas of the property never before tested. Recent trenching results have revealed a number of anomalies where mineralization appears to be disseminated within oxidized porous sediments resembling that previously encountered in the known zones.
This second phase of exploration has been designed to outline the global potential of the 10,000 hectare property with a minimum of 10,000 meters of diamond drilling. The initial focus will be directed at new target areas identified by recent encouraging soil geochemistry, ground magnetics and trenching, followed by the extension of the mineralized lenses which remain open along strike.
Sulliden is also pleased to announce the appointment of Mr. Vernon Arseneau to the position of General Manager of Exploration. Mr. Arseneau will be based in Sulliden’s Lima office and will be responsible for the Company’s exploration activities, drawing on his nearly thirty years of technical and organizational experience with projects throughout Latin America and Canada. He comes to Sulliden after twenty years with Noranda Inc. having served as General Manager for Noranda Peru SAC in addition to heading its exploration efforts in Argentina. “ Vernon’s accomplishments and expertise have placed him among the who’s who in international exploration,” adds Jacques Trottier, President of Sulliden Exploration. We have entered an exciting chapter in Shahuindo’s development with the talent and expertise in place to explore its world class potential.”
Sulliden Exploration Inc. is a mineral exploration company focused on the development of its 100% interest in the Shahuindo gold-silver project located 25 km north of Alto Chicama and 70 km south of Yanacocha in northern Peru . In 2003, the first phase of a 3,450 meter drilling program identified a high grade gold and silver Breccia zone as well as five new target areas. This formed the basis of a new resource calculation in March 2004 by Met-Chem Canada Inc. of 25.8 million tonnes of 1.07 g/t gold and 23.97 g/t silver in the indicated category, and 8.5 million tonnes of 0.92 g/t gold and 22.54 g/t silver in the inferred category.
For Further information please contact:
Dr. Jacques Trottier, President
Tel: (514) 861-1953
E-mail: sulliden@colba.net
Donna Yoshimatsu, VP Investor Relations
Tel: (416) 362-8809
E-mail: dyoshi@sulliden.com
Certain of the information contained in this news release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include without limitation, statements regarding estimates of reserves and resources, future plans and objectives, uncertainty with respect to precious metal price volatility, title to properties, project financing and regulatory environmental and other permits. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Sulliden’s expectations are disclosed under the heading “Risk Factors” in its 2003 Annual Report as well as in its 2003 Annual Information Form (AIF) both of which are filed with Canadian regulators on SEDAR.
