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

Sulliden Gold Corporation

November 29, 2011 08:59 ET

Sulliden Announces Closing of $50 Million Financing

TORONTO, ONTARIO--(Marketwire - Nov. 29, 2011) -

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)(OTCQX:SDDDF)(BVLAC:SUE) is pleased to announce the closing of its previously announced public offering. Pursuant to the terms of the financing, 28,910,000 common shares ("Common Shares") have been issued at a price of $1.73 per Common Share for aggregate gross proceeds of $50,014,300 (the "Offering").

The Common Shares were sold pursuant to an underwriting agreement with a syndicate of underwriters co-led by National Bank Financial Inc. and Cormark Securities Inc. and including Raymond James Ltd., BMO Nesbitt Burns Inc., GMP Securities L.P., Fraser Mackenzie Limited, Desjardins Securities Inc., Jennings Capital Inc., Haywood Securities Inc. and PI Financial Corp.

The net proceeds from the offering will be used by the Company to expand the exploration program at the Shahuindo gold-silver project (the "Shahuindo Project"), acquire the existing net smelter royalty on the Shahuindo Project and additional mining concessions adjacent to the Shahuindo Project, fund other advancement activities at the Shahuindo Project and for general corporate purposes.

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

Sulliden is a Canadian-based precious metals company focused on the exploration and development of the Shahuindo Gold and Silver Project, located in a prolific gold producing district in northern Peru. This project neighbours world class mines, including Barrick Gold's Lagunas Norte Mine 30 kilometres to the south and the Yanacocha Mine operated by Newmont Mining Company 80 kilometres to the north. While the Company progresses towards its goal of becoming a gold producer, a significant focus is also being placed on exploration drilling. Sulliden is led by a strong management team with the proven ability to develop, finance and operate mining projects and is poised to generate superior value for its shareholders.

On behalf of Sulliden Gold Corporation Ltd.

Peter Tagliamonte Stan Bharti
President and CEO Chairman

For further information on Sulliden 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 proposed use of proceeds, receipt of governmental approvals, the anticipated closing date for the financing, 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 Gold Corporation Ltd.
    Caroline Arsenault
    Investor Relations Manager
    (416) 861-5805

    Sulliden Gold Corporation Ltd.
    Scott Moore
    Vice President Corporate Development
    (416) 861-5903
    www.sulliden.com