Sulliden Gold Corporation
TSX : SUE
OTCQX : SDDDF
BVL : SUE

Sulliden Gold Corporation

September 19, 2013 07:31 ET

Sulliden Announces $40 Million Bought Deal Financing

TORONTO, ONTARIO--(Marketwired - Sept. 19, 2013) -

NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (TSX:SUE)(BVL:SUE)(OTCQX:SDDDF) is pleased to announce that it has entered into an agreement with National Bank Financial Inc. and Scotia Capital as co-lead underwriters, on behalf of a syndicate of underwriters (the "Underwriters"), for the issuance of 39,300,000 common shares (the "Shares") of the Company, on a bought deal basis, at a price of $1.02 per Share for gross proceeds of $40,086,000 (the "Offering").

The Company will also grant to the Underwriters an option, exercisable at any time until 5:00 p.m. on the 30th day following the closing, to purchase up to an additional 5,895,000 Shares.

The net proceeds of the Offering will be used to help fund the development of the Shahuindo Project and for general corporate purposes.

The Shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada pursuant to National Instrument 44-101 Short Form Prospectus Distributions.

The Offering is scheduled to close on or about October 11, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

About Sulliden Gold Corporation Ltd.

Sulliden is a mineral exploration and development company focused on advancing its 100% owned Shahuindo project to production. Currently in its permitting phase, this low capital and operating cost gold and silver mine project is located in a prolific gold-producing district in northern Peru. A September 2012 Feasibility Study (based on $1,415 Gold and $27 Silver) on the foundation phase of the project estimates an initial CAPEX of $131.8 million that will support an annual mining rate of 3.65 million tonnes producing approximately 90,000 of gold equivalent ounces for 10.4 years at cash operating costs of $552/oz. This initial mine scenario features a pre tax IRR of 52.2% and post-tax IRR of 37.8%. The Feasibility Study considers only approximately 40% of the gold ounces from the total oxide mineral resource and the Company intends to expand its operation once in production. Additional mineral growth from exploration drilling on defined targets adjacent to the current resource is also anticipated. Sulliden is led by a proven management team with hands-on experience developing and operating mines in Latin America. The foregoing contains forward-looking statements with respect to CAPEX, annual mining rate, annual production, length of mine life and IRR that are based on the assumptions and subject to certain risk factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, as outlined in detail in our technical report entitled "Technical Report on the Shahuindo Heap Leach Project, Cajabamba, Peru", dated November 9, 2012, which is available at www.sedar.com. See also cautionary statement regarding forward-looking information below.

Sulliden shares are listed on the Toronto Stock Exchange (TSX) under the symbol "SUE", on the Bolsa de Valores, Lima (BVL), also under the symbol "SUE", and on the premier tier of the U.S. Over-the-Counter market (OTCQX) under the symbol "SDDDF".

The technical information provided in this news release was reviewed and approved by Joseph C. Milbourne, Sulliden's VP Technical Services and Operations, and a qualified person for the purposes of National Instrument 43-101.

On behalf of Sulliden Gold Corporation Ltd.:

Peter Tagliamonte

Chairman and CEO

Justin Reid

President and Director

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 impact of the DIA approval on the company and its implications on the permitting process and, the size and quality of the company's mineral resources, progress in development of mineral properties, future capital and operating expenses, future metal prices, the future financial or operating performance of the Company, the prospective mineralization of the properties, planned exploration programs and anticipated production schedule. 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; other risks of the mining industry and the risks described in the annual information form of the Company. 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.

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