SOURCE: American Sierra Gold Corp.

American Sierra Gold Corp.

October 22, 2009 08:45 ET

American Sierra Gold Corp. Update on Discovery Day Work Program and Technical Report

RENO, NV--(Marketwire - October 22, 2009) - American Sierra Gold Corp. (OTCBB: AMNP), an independent gold exploration company headquartered in Reno, Nevada, is pleased to announce the release to the public of the Discovery Day Technical Report and its upcoming work program on the property.

Discovery Day Technical Report

The ore reserve estimate contained on the report prepared by Cooksley Geophysical, Inc. in 1996 reported a total inferred resource of 1,165,000 ounces of gold, of which over 157,000 ounces were considered to be in the proven and probable categories. Ore values ranging from 1 ounce of gold per ton (opt) to in excess of 20 opt have been reported in several of the State Mineralogist's Reports published by the California Division of Mines and Geology. American Sierra will need to carry out a work program to re-evaluate historical data and identify additional ore zones to feed new ore to the property's processing mill and facilities.

Discovery Day Work Program

Two phases of work have been planned for the Discovery Day gold property for the next twelve months. The goal of the Phase 1 work program is to develop high-priority drill targets. This phase will consist of surface geologic mapping and sampling with tight ground survey control. Underground mapping and sampling of historic workings will be considered where safe entry is possible.

The Phase 2 of the work program is designed to drill the test targets identified in Phase 1. This phase will consist of underground core drilling and surface core drilling at the Discovery Day mine and surface core drilling at the Hansen mine. Success at the Discovery Day mine would lead to developing near-term reserves for the mill and success at the Hansen mine would develop a new source of ore immediately adjacent to the mill.

"The Discovery Day Gold property is a production-ready gold property in need of exploration and geological work to delineate near-term reserves. The property is fully permitted for production with attending underground mine, powder magazines, operational mill, support facilities, and underground and surface equipment. Having produced over $50 million dollars of gold at today's prices, we look forward to further exploring and validating the tremendous potential of this historically rich region," commented Wayne Gruden, CEO of American Sierra.

Forward-Looking Statements

The statements by our officers, and other statements regarding optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

Cautionary Note to Investors

The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," and "inferred," that the SEC guidelines strictly prohibit us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our SEC filings, File No. 000-52927. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml.

Contact Information