Sulliden Gold Corporation
TSX : SUE

Sulliden Gold Corporation

November 06, 2009 07:30 ET

Sulliden Exploration Commences Trading as Sulliden Gold Corporation

TORONTO, ONTARIO--(Marketwire - Nov. 6, 2009) - Sulliden Gold Corporation Ltd. ("Sulliden" or the "Company") (TSX:SUE) is pleased to announce that the Company's shareholders approved the Company's change of name to Sulliden Gold Corporation Ltd. at a meeting held September 17, 2009. As of market open today, the Company will commence trading on the TSX under its new name, "Sulliden Gold Corporation Ltd." The Company's ticker symbol remains unchanged.

Peter Tagliamonte, President and CEO commented "As the Shahuindo Gold Project progresses, we think the name Sulliden Gold Corporation better reflects the Company's focus on development, rather than exploration, as we move towards our goal of becoming a gold producer."

About Sulliden

Sulliden is a Canadian based mining company focused on the development and exploration 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 region 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 operated by Newmont Mining Company, 80 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 Sulliden 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 focus and 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 available under the Sulliden profile on SEDAR at www.sedar.com.

Figure 1 Shahuindo Project location map is available at the following link:
http://media3.marketwire.com/docs/sulliden%20img.jpg



On behalf of Sulliden Gold Corporation Ltd.
Peter Tagliamonte Stan Bharti
President and CEO Chairman


For further information 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 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 Exploration Inc.
    Scott Moore
    Vice President Corporate Development
    (416) 861-5903
    or
    Sulliden Exploration Inc.
    Caroline Arsenault
    Manager Marketing and Investor Relations
    (416) 861-5805