SOURCE: Indemia Gold Inc.

April 16, 2012 09:00 ET

Indemia Gold Begins Exploration and Development Activities at Choco Mine

LAS VEGAS, NV--(Marketwire - Apr 16, 2012) - Indemia Gold Inc. (PINKSHEETS: CETH) ("Indemia" or the "Company") is pleased to announced that exploration and development efforts at its 100 percent owned Choco Placer mine (the "Project") in Colombia are now underway.

The Company has established a plan of operations for the Project to recommence production within 90 days. This strategic plan includes conducting a bulk geochemical sampling program, making upgrades to mine infrastructure and acquiring additional heavy machinery.

Field teams in Colombia have begun to conduct the previously announced soil sampling program (see press release dated March 16, 2012) and preliminary assay results are expected to be released soon. "Geochemical sampling techniques have a proven track record in the Terrenos-Dagua Belt," said President and CEO Joseph Arcaro. "The results of the program will allow us to recommence production in the highest mineralized areas of the Project site."

The Company also notes that it has also begun to analyze lode prospects throughout the region and is in talks with multiple parties to secure land agreements. Acquisition of these prospects will provide significant exploration upside. Indemia remains committed to long-term acquisition and development of hard rock projects and expects to accelerate its efforts throughout 2012.

"We consider this to still be the early-days in Colombia," added Mr. Arcaro. "That being said, we are implementing our two-pronged approach in unison to make sure the larger goal of sustainable shareholder value is attained."

About Indemia Gold Inc.

Indemia Gold is a results-driven precious metal mining company focused on monetizing the mineral wealth of Colombia. Its mission is to create shareholder value through near-term gold and platinum production at its flagship Choco Placer Mine and long-term development of district-scale hard rock projects with multi-million ounce resource potential. This two-pronged approach reduces risk for stakeholders through organic growth and minimal dilution while leaving upside potential intact. For more information on the Company, visit the corporate website at www.indemiagold.com.

Forward-Looking Statements

This news release may include "forward-looking statements" regarding Indemia Gold Inc. and its subsidiaries. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Indemia Gold Inc. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Indemia Gold Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact Information

  • Contact Information

    Joseph Arcaro, President
    3800 Howard Hughes Parkway, Suite 500
    Las Vegas, NV 89169
    Tel: 1.209.386.7753
    Email: info@indemiagold.com