Reunion Gold Corporation

Reunion Gold Corporation

August 28, 2008 10:07 ET

Reunion Gold Corporation Announces its Financial Results for the First Quarter Ended June 30, 2008

LONGUEUIL, QUEBEC--(Marketwire - Aug. 28, 2008) - Reunion Gold Corporation (TSX VENTURE:RGD) (the "Company") announces that its Consolidated Financial Statements and Management's Discussion & Analysis for the 1st quarter ended June 30, 2008 have been filed on SEDAR ( They are also available through Marketwire's website at and on the Company's website at

Exploration Update

The acquisition of the exploration rights to the Lely Mountain area in Suriname completed in June 2008 was a significant milestone for the Company. The acquisition of the Lely Project combined with the existing project at Antino gives the Company rights to a significant portion of the gold bearing greenstone areas of eastern Suriname, which hosts several known large gold projects, such as Iamgold's Rosebel Mine and Newmont's Nassau Mountain deposit.

Management believes that its strategy of building a large land position in a known gold bearing greenstone belt, and then carrying out a systematic and rigorous exploration program, should eventually bear fruit. Over the coming months, the exploration efforts will focus mainly on the most interesting targets at Lely. In addition, Management continues to actively seek out other opportunities outside of the current area of operations.

Lely Project

The Lely Project is an early stage exploration project with limited previous exploration activity having been carried out to evaluate the gold and base metal potential of the area. Lely hosts several large areas of artisanal workings that appear to be surface expressions of more deep rooted gold bearing structures. Exploration at Lely has only just begun, but our initial assessment gives reason for cautious optimism.

The focus of the exploration activities has moved from the west to the northern end of the Lely concession where extensive artisanal alluvial/colluvial mining activity is occurring. Access to this area has been difficult due to the steep terrain and extremely wet conditions. Heavy equipment has recently completed an ATV access track to this area allowing geological mapping and sampling to take place. Initial results have been encouraging with some interesting gold values collected from in-situ saprolite. Geological mapping has also revealed low grade mineralization associated with sheared granodioritic intrusions, elevated above the artisanal mining. Further mapping and sampling of these intrusions is now being carried out to determine the extent of the mineralization.

Data from the airborne magnetic and radiometric survey, carried out in April 2008 on a 250-meter line spacing, has been received for final processing and interpretation. An eight week delay in the delivery of the data has in-turn caused delays to the exploration campaign. Preliminary interpretation of the geophysical data suggests extensive regional folding / faulting, with good correlation between mapped intrusions and radiometric anomalies.

Due to the size of the Lely Project, a Bulk Leach Extractable Gold (BLEG) sampling program will soon start to determine the prospectivity of a 230 km2 area to the east of Lely Plateau. Once completed, BLEG sampling will then move to the south east corner of the Lely east concession to evaluate anomalous gold stream sediment samples collected along the Tapanahony River in the early 1980's. The Company anticipates completing the BLEG sampling within the next four months.


In early 2008, the Company conducted a follow-up drilling program at Antino and carried out a review of all data and assays received to date. Work will continue in 2008 on the promising gold mineralization intercepted within the Upper Antino target to help determine the presence of a raking shoot. ICP analysis will be conducted on samples that cut the shear zone structure. Interesting assays returned from the south-western corner of the eastern grid prompted the start of an in-fill program in early 2008. A follow-up mapping and sampling effort will occur once the area dries out enough to allow safe access. There remains a number of targets at Antino that will be evaluated, once resources become available.

Forward Looking Statements

This press release contains certain forward-looking statements. Forward-looking statements are not historical facts, and are subject to a number of known and unknown risks and uncertainties beyond the Company's control including statements regarding potential mineralization and interpretation of exploration results; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; completion of work program, costs and supply of material relevant to the mining industry, and future plans and objectives of the Company. These statements may cause the actual results, levels of activity, performance or achievement of the Company to be materially different from any future results, levels of activity, performance or achievement expressed or implied by these forward looking statements.

Resource exploration, development and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral resources but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production. There can be no assurance that such statements will prove to be accurate and actual results could differ materially from those suggested by these forward-looking statements.

Additional information about the Company is available through regular filings and press releases on SEDAR and on the Company's website.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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