Reunion Gold Corporation

Reunion Gold Corporation

November 27, 2008 11:33 ET

Reunion Gold Corporation Announces its Financial Results for the Second Quarter Ended September 30, 2008 and Exploration Update

LONGUEUIL, QUEBEC--(Marketwire - Nov. 27, 2008) - Reunion Gold Corporation (TSX VENTURE:RGD) (the "Company") announces that its Consolidated Financial Statements and Management's Discussion & Analysis for the 2nd quarter ended September 30, 2008 have been filed on SEDAR ( They are also available through the Company's website at

Update and temporary suspension of field activities

The acquisition of the exploration rights to the Lely Mountain area in Suriname 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. In addition, management continues to actively seek out other opportunities outside of the current area of operations.

In response to the Company's limited financial resources and the financial uncertainty caused by the global economic crisis affecting both the capital markets and the commodity prices, the Company temporarily suspended its field activities in Suriname. The Company has put its exploration projects on care and maintenance until it finds additional funds to resume its exploration programs. In the meantime, technical personnel are compiling and interpreting the geological and geophysical data obtained so far. Management is encouraged with results obtained during the first phase of the exploration program at Lely. The Company is evaluating different financing options which may include the issuance of securities and partnership or joint venture arrangements. However, there can be no assurance that additional funds will be available or available on terms acceptable to the Company.

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. Reunion Gold's program is the first ever systematic gold exploration of this productive greenstone terrain. The geology of Lely Mountain and adjacent area is thought to be composed of northeast striking meta-basalt, gabbro-norite and amphibolite of the Lower Proterozoic Marowijne group. Significant shear zones have been identified within the concession and are thought to be associated with gold mineralization. Correlation between mapped intrusions and anomalous gold samples also suggest that intrusive-hosted gold mineralization is possible.

Reunion Gold has been actively exploring four promising target areas within this 82,850 hectare early stage exploration project: Tabocal, Agua Branca, Bamboo and Djuka Creek. Construction of over 70 km of access road over the past seven months has permitted systematic augur, ridge and spur and bulk leach extractable gold ("BLEG") sampling of target areas. Interpretation of the 8,610 line kilometer airborne radiometric and magnetic survey conducted in March 2008 has reinforced the selection of current target areas and identified new targets. The interpretation of the survey has also lead to the identification of two major structural zones trending northwest. Regional folding inferred from field mapping correlates well with the geophysical interpretation and areas with anomalous potassium signatures are also prominent near areas currently being mined by artisanal workers.


Once financial resources become available, the Company will return to the project to investigate a gold anomaly situated in the southeast of the concession. To date, a total of 2,771 samples were collected at 1 m intervals down to 3 m with a number of values situated within a 500 m2 area in the southwest corner of the grid. The anomalous area remains open to the northwest.

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.

The technical content contained in this news release was reviewed and approved by Mr. Adrian Fleming, M.A.I.G, RPGeo, M.Aus.I.M.M., Reunion Gold Project Manager. Mr. Fleming is responsible for supervising the Company's exploration program and is a qualified person under National Instrument 43-101.
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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