SOURCE: Osceola Gold, Inc.

Osceola Gold, Inc.

September 23, 2016 08:00 ET

Osceola Gold Concludes Testing at the MAV-G Mining Operation in the Osceola Mining District

STEUBENVILLE, OH--(Marketwired - Sep 23, 2016) - Osceola (OTC PINK: PYHH) is pleased to announce that testing has concluded at the mine with the evaluation of 22 test holes spanning the 20-acre claim, including the famous Hogum Tunnel which historically, between the years of 1910 and 1940, had produced 5 million dollars in gold, a weight equivalent to 400 million at today's prices. 

Working in conjunction with Quantum Geo, satellite was utilized to assist in detecting the deeper channels. Of the test locations evaluated, Osceola has strategized to start excavating about a quarter mile into the tunnel and work westward down the claim, going to depths of 110 feet. Of all the territory tested, the average quantity discovered was right in the range of 2.1 grams per ton.

The method of evaluation consisted of mine operators digging and running 25-yard samples over every seven feet. "We have made every effort to be as thorough as possible. Our testing was more extensive than just the typical core drill. By excavating, although it was more time consuming and labor intensive, the value of getting accurate results, was well worth it," stated Christopher Tarquinio, Chief Executive Officer, Osceola Gold, Inc.

He continued: "Now that we have established where excavation will begin, we plan to upgrade from the current testing trommel to a 125 tons per hour wash plant with 2-42 inch duplex jigs and 25 feet of sluice boxes with hydraulic riffles and our trusty neff bowls. Now we can finally move forward and get some real production going. Testing is the most difficult and tedious phase, excitement fills the air when it is over. Now that we are completely in compliance and prepared for the production phase, the corporate names on all the permits BLM, NDEP and MSHA are being transferred to Osceola Gold."

Mining in the Osceola District, White Pine County, Nevada, was launched in the 1870's and continues to this day. Major efforts were put forth in the late 1800's, 1930's and 1970's with both lode and placer mining striking success with the removal of considerable amounts of gold. Studies conducted throughout these periods indicate economically viable amounts of gold in both the bedrock and in particular, the placer deposits that remain. For more information, visit: http://www.nbmg.unr.edu/

About Osceola Gold: Osceola Gold Inc. is a public company listed on OTC Markets (OTC PINK: PYHH). The Company was formed to pursue Gold and precious metal mining opportunities in the surrounding area in the Osceola Gold mining district, located in White Pine County, Nevada; it is approximately 29 miles southeast of Ely. In addition to these claims, Osceola Gold Inc. is leasing the mining rights to the MAV-G mining claims, which run up the middle of a large alluvial fan which runs from Mary Ann Canyon into the Spring Valley. Osceola Gold Inc. has also obtained all required permits.

Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise. 

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