June 01, 2009 16:10 ET

Sulliden Awards Contract for Preliminary Economic Assessment on Shahuindo Gold Project

Conference Call to Update Shareholders on Wednesday June 3rd at 10:00 AM ET

TORONTO, ONTARIO--(Marketwire - June 1, 2009) - Sulliden Exploration Inc. ("Sulliden") (TSX:SUE) announces that it has awarded a contract to AMEC for a Preliminary Economic Assessment on the Shahuindo Gold Project.

AMEC is a major international mining engineering firm with significant experience in gold heap leach projects throughout North and South America. AMEC will execute the project with support from their Vancouver and Lima offices. Work on the Preliminary Economic Assessment will begin immediately and is expected to be completed in September 2009.

Peter Tagliamonte, President and CEO(i) of Sulliden, stated; "We are very pleased to be moving the Shahuindo Project forward and to be working with AMEC. We have a good team in Peru and I feel the Shahuindo Gold Project has excellent potential to grow the resource beyond its current size. As a first step we will be focused on delivering a high quality Preliminary Economic Assessment as well as initiating an exploration program to grow the current resource base."

Sulliden will host a conference call to update shareholders on Wednesday June 3rd, at 10:00 a.m. E.T. Peter Tagliamonte, President and CEO(i) will moderate the call and will be joined by Joe Milbourne, VP Technical Services; Stephane Amireault, VP Exploration and Scott Moore, Executive VP Business Development.

Conference Call to Update Shareholders:

Date: Wednesday, June 3rd, 2009
Time: 10:00 a.m. E.T

Local Callers: 416-340-8018
North American: 1-866-223-7782
International Callers +1-416-340-8018

Sulliden will be launching a new website on June 9th, 2009, at

About Sulliden

Sulliden is a Canadian based mining company focused on the exploration and development of the Shahuindo Gold Project located in northern Peru, one of the world's most prolific gold and silver producing districts. World-class gold mines in the district include Barrick Gold's Lagunas Norte Mine, 30 km to the south, (1.2 million ounces of gold produced in 2008), and the Yanacocha Mine owned by Newmont Mining Company, Compania de Mineras Buenaventura and The World Bank, 70 km to the north (1.8 million ounces of gold produced in 2008).

The Shahuindo Gold Project has a NI 43-101 compliant Mineral Resource Estimation completed by Met-Chem Canada Inc. in 2005 that estimates 38 million tonnes grading 0.95 grams per tonne of gold and 23 grams per tonne of silver of indicated resource (1.2 million ounces gold and 28 million ounce silver) and 17.2 million tonnes grading 0.62 grams per tonne of gold and 12.83 grams per tonne silver in the inferred category (342,000 ounces gold and 7.1 million ounces silver). (See press release of April 29, 2005 for details regarding the resource estimate)

In March 2009, the five-year legal dispute that disrupted the Shahuindo Gold Project was resolved. With the current resolution, Sulliden now holds 100 percent registered and undisputed ownership of the Shahuindo property and has secured exploration options on sixteen adjoining mining concessions.

In April 2009, the Board of Directors appointed a new Management team with the demonstrated ability to develop, finance and operate mining projects. With a strong strategic plan to advance the development of its Shahuindo Gold Project and potential for mineral resource expansion, Sulliden is positioned to generate superior value for its shareholders.

The Mineral Resource Estimation was completed by Met-Chem Canada Inc. in 2005 and is filed on

Stephane Amireault, MScA., P.Eng, Sulliden's VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this release.

A map of the Shahuindo Gold Project is available at the following link:

On behalf of Sulliden Exploration Inc.
Peter Tagliamonte Stan Bharti
President and CEO(i) Chairman
Tel: (416) 564-2880 Tel: (416) 861-5876

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 size and nature of the mineral resources, the ability to realize mineral resource estimates; progress in development of mineral properties; future metal prices; prospective mineralization of the properties; and planned exploration and analysis programs;. 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; 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.

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