Montreal, Canada - January 29, 2004 - Sulliden Exploration Inc. (“Sulliden”) (TSX: SUE) is pleased to announce that the closing of the financing announced in its press release of December 4, 2003 is anticipated for February 3, 2004.
Sulliden also announces its intention to transfer 30% of the shares of its subsidiary, Minera Sulliden Shahuindo S.A.C. to its joint venture partner, Socrate Capital Inc. in accordance with the terms of the sole joint venture agreement of November 12, 2002. Sulliden and Socrate agreed to enter into a shareholders agreement, upon the transfer of such shares to Socrate, which will govern their rights and obligations as shareholders of Minera Sulliden Shahuindo S.A.C., including the future funding of the work programs on the Shahuindo property.
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.
