NOT FOR DISTRIBUTION TO A US NEWS WIRE
SERVICE
OR FOR
DISSEMINATION IN THE UNITED STATES
NEWS RELEASE
FOR IMMEDIATE
RELEASE: JANUARY 4, 2013
SUTTER GOLD ANNOUNCES EXTENSION ON ITS Non-Brokered Private
Placement
Vancouver,
British Columbia (January 4, 2013) - Sutter Gold Mining Inc.
(SGM:TSX-V) (SGMNF:OTCQX) (“Sutter” or the
“Company”)
is pleased to
announce that the TSX Venture Exchange has granted Sutter an
extension for the completion of its private placement financing,
initially announced on October 18, 2012, to January 15, 2013. All
terms for the balance of the US $5,000,000 offering of shares, at a
price of US $0.30 per common share, remain unchanged. The Company
previously closed an initial tranche of 3,356,634 common shares for
gross proceeds of US $ 1,006,990.
About Sutter
Sutter is a near-term gold producer, building Phase One of the new
Lincoln Mine Project in the historic California Mother Lode.
Ramp-up to full production is planned in the first half of
2013. The
Lincoln-Comet and Keystone zones have a NI 43-101 compliant
Indicated Resource estimate (completed in February 2008) of 612,400
tonnes (673,600 tons) grading 11.3 g/t Au (0.33 oz/ton) containing
223,000 ounces of gold and Inferred Resources of 2,161,700 tonnes
(2,377,900 tons) grading 6.6 g/t Au (0.19 oz/ton) containing
458,900 ounces of gold.
Sutter currently controls approximately 4.6 miles of the Mother
Lode of Amador County, with 90% of the property still unexplored.
Potential exists both at depth and along strike of the known
mineralized zones on both the footwall and hanging wall. The
120-mile long Mother Lode Gold Belt produced over 13 million ounces
of gold historically with 7.9 million ounces originating from the
10-mile long segment between Jackson and Plymouth where the Lincoln
Project is strategically located. Properties under the Company’s
control include seven historic mines with significant historic gold
production totaling over 3.5 million ounces or 27% of the historic
gold production from the Mother Lode. Historic mines located north and
south of the Lincoln Project in the Jackson to Plymouth segment of
the Mother Lode success fully mined gold to depths of 4,500 and
6,300 feet, respectively.
In Mexico, Sutter holds the rights to the geologically
similar, high-grade El Alamo district of northern Baja, where
historic mining to the water table produced mined grades of 30 to
60 g/t gold. Initial exploration with its joint-venture partner,
Premier Gold, has demonstrated the extension of high-grade
veins.
ON BEHALF OF THE BOARD OF DIRECTORS:
Dr. Leanne M. Baker, President, CEO & Director
Sutter Gold Mining Inc.
For further information, please contact:
Robert Hutmacher, Chief Financial Officer at
303 238 1438 ext. 22
Email: bhutmacher@suttergoldmining.com
Website: www.suttergoldmining.com
Forward-Looking Statements
This news release contains "forward-looking information"
under Canadian securities law. Any information that express or
involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words such as
"expect", "anticipate", "believe", "plans", "estimate",
"scheduling", “projected” or variations thereof or stating that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions) are not statements of
historical fact and may be forward-looking information.
Forward-looking information relates to, among other things: the
price of silver and gold; the accuracy of mineral resource and
mineral reserve estimates; the ability of the Company to finance
its operations and capital expenditures; future financial and
operating performance including estimates of the Company's revenues
and capital expenditures and estimated
production.
Forward-looking information is subject to a variety of known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ from those reflected in the
forward-looking information, including, without limitation, risks
relating to: fluctuating commodity prices; calculation of
resources, reserves and mineralization and precious and base metal
recovery; interpretations and assumptions of mineral resource and
mineral reserve estimates; exploration and development programs;
feasibility and engineering reports; permits and licenses; title to
properties; recent market events and conditions; economic factors
affecting the Company; timing, estimated amount, capital and
operating expenditures and economic returns of future production;
operations and political conditions; environmental risks; and risks
and hazards of mining operations. This list is not exhaustive of
the factors that may affect any of the Company's forward-looking
information. Forward-looking information about the future is
inherently uncertain, and actual achievements of the Company or
other future events or conditions may differ materially from those
reflected in the forward-looking information due to a variety of
risks, uncertainties and other factors. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated, described or intended.
Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company's
forward-looking information is based on the assumptions, beliefs,
expectations and opinions of management as of the date of this
press release, and other than as required by applicable securities
laws, the Company does not assume any obligation to update
forward-looking statements and information if circumstances or
management's assumptions, beliefs, expectations or opinions should
change, or changes in any other events affecting such statements or
information. For the reasons set forth above, investors should not
place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Sutter Gold Mining (CE) (USOTC:SGMNF)
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Sutter Gold Mining (CE) (USOTC:SGMNF)
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