Sulliden Gold Corporation
TSX : SUE
OTCQX : SDDDF

Sulliden Gold Corporation

March 23, 2010 07:30 ET

Sulliden Advances the Shahuindo Gold Project-Awards Bankable Feasibility

TORONTO, ONTARIO--(Marketwire - March 23, 2010) - Sulliden Gold Corporation ("Sulliden", the "Company") (TSX:SUE) (OTCQX:SDDDF) is pleased to announce that Kappes, Cassiday & Associates has been selected to conduct a bankable Feasibility Study to advance the development of its Shahuindo Gold Project in Peru. The completion of this report is expected in the fourth quarter of 2010.

Kappes, Cassiday & Associates, based in Reno, Nevada is an internationally respected leader in the design, engineering and construction of gold and silver heap leach projects, with extensive experience working in Peru. Their expertise in heap leaching and metallurgical testing services, as well as their capabilities in mine design, construction and pit optimization will be an important part in the development of the Shahuindo project. The Feasibility Study will commence immediately and will build upon the positive economic results from the Preliminary Assessment, which was completed in January 2010.

The Feasibility Study will also include an updated mineral resource model, which will incorporate the results from the latest exploration drill program completed in February 2010 and the data from the recent geotechnical drilling program. The updated mineral resource model is expected for completion in the second quarter of this year. Sulliden expects this portion of the study to demonstrate an expanding mineral resource, which would likely have positive effects on the production figures and the overall economics of the Shahuindo project.

Joe Milbourne, VP Operations and Technical Services commented, "Awarding the Feasibility Study marks a critical milestone for Sulliden as we move the Shahuindo Project forward. We are very pleased to commence the next stage of development working with Kappes, Cassiday & Associates, and we believe their considerable experience in gold and silver heap leach design, testing and operations will be a strategic advantage for this project."

CONFERENCE CALL ANNOUNCEMENT

Sulliden will host a conference call on Wednesday, March 24, 2010 at 2:00 pm EST to provide a general update, discuss recent milestones and outline the upcoming developments of the Shahuindo Gold Project. Sulliden's President and CEO, Peter Tagliamonte, as well as Stephane Amireault, VP Exploration, and Joe Milbourne, VP Operations and Technical Services will be participating in the call. A question and answer period will follow. An archive of the conference call will be available on the Company website at www.sulliden.com.

Conference Call Information:

Date:  Wednesday, March 24, 2009
Time: 2:00 p.m. EST
Local and International: 1-416-340-2218
Toll free dial-in number: 1-866-226-1798

Conference Call Replay Information:

Local and International: 1-416-695-5800
Toll free: 1-800-408-3053
Pass Code:  1025530
Replay Availability: Wednesday, March 24, 2010 to Wednesday, March 31, 2010

ABOUT SULLIDEN

Sulliden is a Canadian-based mining company focused on the development of its principal asset, the Shahuindo Gold Project, located in Peru. This area is one of the world's most prolific gold producing districts and is home to world-class gold mines including Barrick Gold's Lagunas Norte Mine, 30 km to the south, and the Yanacocha Mine operated by Newmont Mining Company, 80 km to the north; both million-ounce per year producing mines.

A positive Preliminary Economic Assessment prepared by AMEC for the Shahuindo Gold Project was completed in December 2009 and Sulliden intends to proceed with a bankable Feasibility study in 2010. While the Company progresses towards its goal of reaching production by mid 2012, a significant focus is being placed on exploration drilling to expand the resource and reveal the upside potential of the Shahuindo deposit.

Sulliden is led by a strong management team with the proven ability to develop, finance, operate and explore mining projects and is positioned to generate superior value for its shareholders.

On behalf of Sulliden Gold Corporation

Peter Tagliamonte, President and CEO

Stan Bharti, Chairman 

For further information on Sulliden please visit the company website at www.sulliden.com.

If you would like to be added to Sulliden's news distribution list, please send your email address to contact@sulliden.com

Caution regarding forward-looking information:

This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes without limitation, statements regarding the impact of this agreement on the Company, timing of the study and results, the timing and effect of the updated resource, the effect of the anticipated results on the future financial or operating performance of the Company, the size and quality of the company's mineral resources, progress in development of mineral properties, future capital and operating expenses, capital and mine production costs, future metal prices and treatment and refining charges, the financial results of the company the future financial or operating performance of the Company, the prospective mineralization of the properties and planned exploration programs, the issue of permits, future production and sales volumes, capital and mine production costs, demand and market outlook for metals, planned exploration programs, anticipated production schedule and terms and the availability and likelihood of future acquisitions. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; acquisition risks; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Contact Information

  • Sulliden Gold Corporation
    Scott Moore
    Vice President Corporate Development
    (416) 861-5903
    or
    Sulliden Gold Corporation
    Caroline Arsenault
    Manager Marketing and Investor Relations
    (416) 861-5805