Staccato Gold Resources Ltd.

Staccato Gold Resources Ltd.

April 13, 2010 09:28 ET

Staccato Gold Announces Withdrawal and Consequent Cancellation of Requisitioned Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 13, 2010) - Staccato Gold Resources Ltd. (TSX VENTURE:CAT) ("Staccato") is pleased to announce that it has received written notification from its shareholders, Augen Capital Corp. and Aumerco Limited, which had earlier requisitioned a meeting of Staccato's shareholders, confirming that such requisition for a shareholders meeting has been withdrawn. As a result of the withdrawal of the requisition, the requisitioned meeting has been cancelled.

Staccato confirms that it is proceeding with the proposed transaction with Timberline Resources Corporation ("Timberline") announced on March 23, 2010, whereby Timberline will acquire, via a plan of arrangement, all of the issued and outstanding common shares of Staccato by way of a share exchange (the "Transaction").

Staccato is currently preparing a circular for distribution to its securityholders in respect of a special meeting (the "Meeting") to approve the Transaction with Timberline. While exact dates remain to be determined, it is expected that the circular will be mailed to securityholders by the end of April. The Staccato Board recommends that its securityholders approve the Transaction at the Meeting, which is currently scheduled to be held on May 21, 2010.

About Staccato Gold Resources Ltd.

Staccato Gold is a well funded junior gold exploration company with resources and advanced stage exploration assets located exclusively in Nevada. Staccato is focused on advancing its flagship Lookout Mountain project, located in one of the dominant gold trends in Nevada. Staccato is listed on the TSX-V and trades under the symbol "CAT".

Statements in this press release other than purely historical information, including statements relating to Staccato's future plans and objectives or expected results, are forward-looking information within the meaning of Canadian securities laws. Forward-looking information is based on numerous assumptions, including that equipment and personnel will be available when required, that no delays are experienced in the planned work programs, that technical issues identified in the previous resource estimate for the Lookout Mountain project can be addressed and within the time frame anticipated, and that all necessary approvals for the planned programs will be obtained in a timely manner. Forward-looking information is subject to all of the risks and uncertainties inherent in Staccato's business, including risks inherent in resource exploration and development. Such risks include, but are not limited to, delay in obtaining permits and approvals, actual results of exploration activities differing from those anticipated, failure of equipment, accident, labor disputes and other risks associated with mineral exploration activities. Although Staccato has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.

Grant Ewing, President, Chief Executive Officer & Director

Staccato Gold Resources Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Staccato Gold Resources Ltd.
    Gareth Thomas
    Corporate Development