Sulliden Gold Corporation
TSX : SUE

Sulliden Gold Corporation

December 21, 2009 10:23 ET

Sulliden Commences Drilling at Shahuindo

TORONTO, ONTARIO--(Marketwire - Dec. 21, 2009) - Sulliden Gold Corporation ("Sulliden") (TSX:SUE) is pleased to announce that the second drilling program for 2009 has commenced at the Shahuindo Gold Project in Peru. Both diamond drilling and reverse circulation drilling activity have started on site as part of the approximately 4,000 meter exploration program following the recently awarded Category 1 permit (See press-release from December 14th, 2009).

This drilling campaign is the initial part of a larger exploration program planned for 2010. Exploration activities will concentrate on the Gap Zone which covers 500 meters of strike length. Both sides of the Gap Zone have exhibited the largest mineralized widths to date on the deposit.

The Company expects to complete this drilling campaign at the end of January 2010 and will release results as they become available.

Stephane Amireault, Vice President Exploration commented: "We are very pleased to have started drilling activities on the property and believe this campaign will have excellent potential to add to the size of the deposit. We look forward to sharing the results and to continue providing updates on our progress."

Peruvian-based Viceversa Consulting S.A has been contracted by the Company to prepare the Category 2 permit application, which would allow a comprehensive, concession-wide drill program on the Shahuindo site.

QUALIFIED PERSON

Stephane Amireault, P.Eng., Vice President, Exploration for Sulliden Gold Corporation is the Qualified Person responsible for the management of the exploration program and disclosure of the drill results as defined by National Instrument 43-101. Mr. Amireault has read and approved this news release.

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.

To view the map related to the release "Shahuindo Gold Project location map" please follow the link: http://media3.marketwire.com/docs/SUE1221.jpg

On behalf of Sulliden Gold Corporation

Peter Tagliamonte, President and CEO

Stan Bharti, Chairman

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 effect of the 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
    www.sulliden.com