Sandstorm Resources Ltd.
TSX VENTURE : SSL

Sandstorm Resources Ltd.

October 01, 2010 19:00 ET

Sandstorm Resources Announces Change of Auditor

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2010) - Sandstorm Resources Ltd. ("Sandstorm" or "Sandstorm Resources") (TSX VENTURE:SSL) announces that it has changed its auditor. Davidson & Company LLP (the "Former Auditor") has resigned effective as of October 1, 2010 and Deloitte & Touche LLP (the "Successor Auditor") has been appointed. The change in auditor has been approved by Sandstorm's Audit Committee and Board of Directors.

There were no reservations in the former auditor's reports in connection with the two most recently completed fiscal years or for any period subsequent to the most recently completed period for which an audit report was issued. There were also no reportable events between Sandstorm and the Former Auditor or the Successor Auditor including disagreements, unresolved issues or consultations as defined in National Instrument 51-102, Continuous Disclosure ("NI 51-102").

All procedures have been properly followed under NI 51-102 regarding the change of auditor and, as required, a Notice of Change of Auditor together with the required letters from the Former Auditor and the Successor Auditor will be filed via SEDAR with each securities commission in each province or territory in Canada in which Sandstorm is a reporting issuer.

ABOUT SANDSTORM RESOURCES

Sandstorm Resources Ltd. is a growth focused resource based company that seeks to complete transactions with companies that have advanced stage development projects or operating mines. By making upfront payments to its partners, Sandstorm Resources receives volume based production payments (i.e. metal stream deals) on precious metals. Sandstorm Resources helps other companies in the resource industry grow their businesses, while acquiring attractive precious metal assets in the process.

Sandstorm Resources is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm has completed volume based production payments with Luna Gold Corp., SilverCrest Mines Inc., Santa Fe Gold Corporation and Rambler Metals and Mining plc. For more information visit: http://www.sandstormresources.com

Cautionary Note Regarding Forward-Looking Information

Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information is based on reasonable assumptions that have been made by the Corporation as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Sandstorm Resources to be materially different from those expressed or implied by the forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which Sandstorm Resources will purchase gold and risks related to those mining operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; problems inherent to the marketability of minerals; industry conditions, including fluctuations in the price of metals, fluctuations in foreign exchange rates and fluctuations in interest rates; stock market volatility; competition; delays in the construction of the Ming Mine as well as those factors discussed in the section entitled "Risk Factors" in Sandstorm Resources' annual information form for the financial year ended December 31, 2009. Although Sandstorm Resources 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 information. Accordingly, readers should not place undue reliance on forward-looking information. Sandstorm Resources does not undertake to update any forward-looking information that is contained or incorporated by reference herein, except in accordance with applicable securities laws. Sandstorm Resources is a precious metals company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Sandstorm Resources Ltd.
    David Awram
    Executive Vice President of Corporate Development
    (604) 689-0234
    or
    Sandstorm Resources Ltd.
    Denver Harris
    Investor Relations Contact
    (604) 689-0234
    www.sandstormresources.com