Sulliden Gold Corporation
TSX : SUE
OTCQX : SDDDF

Sulliden Gold Corporation

July 29, 2011 15:49 ET

Sulliden Files NI 43-101 Technical Report for the Updated Mineral Resource Estimate on the Shahuindo Project in Peru

TORONTO, ONTARIO--(Marketwire - July 29, 2011) - Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (TSX:SUE)(OTCQX:SDDDF) is pleased to announce that the updated mineral resource estimate announced on June 16, 2011 has been filed on SEDAR in compliance with the National Instrument 43-101 Technical Report requirements.

The mineral resource technical report was prepared by Mine Developments Associates ("MDA") and Kappes, Cassiday & Associates in compliance with National Instrument 43-101 "Standards of Disclosure for Mineral Projects". The Shahuindo Project has an Indicated mineral resource totaling 1,971,000 ounces of gold grading 0.52 g/t and 27,980,000 ounces of silver grading 7.3 g/t and an Inferred mineral resource totaling 1,436,000 ounces of gold grading 0.73 g/t and 38,580,000 ounces of silver grading 19.1 g/t. The mineral deposit at the Shahuindo Project currently consists of a four kilometer strike length and remains open in all directions and at depth.

The Technical Report has been filed under the Company's profile on SEDAR (www.sedar.com) and can also be viewed on Sulliden's website at www.sulliden.com.

Peter Tagliamonte, President & CEO of Sulliden, commented, "The updated mineral resource estimate establishes a new foundation for the Shahuindo Project. We continue drilling the Central Corridor and with the planned exploration in the North Corridor, extensions and recently identified parallel structures, we believe a strong opportunity exists to continue to further increase the mineral resources at Shahuindo."

Quality Control and Assurance

Mr. Stéphane Amireault, P.Eng., Vice-President Exploration for Sulliden, is a "Qualified Person" as such term is defined in NI 43-101 and has reviewed and approved the technical and scientific information contained in this news release.

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. A positive Preliminary Assessment for the Shahuindo Project was completed in February 2010 and a Feasibility Study is currently underway. On June 16, 2011, an updated mineral resource estimate more than doubled the Indicated gold ounces in the oxides and almost quadrupled the Inferred gold ounces relative to the 2009 year-end estimate. While the Company progresses towards its goal of becoming a gold producer, a significant focus is also being placed on exploration drilling. The current mineral deposit is open in all directions and at depth, and the Company has planned approximately 70,000 meters of drilling in 2011 to continue the mineral expansion on the property. 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 the size and quality of the company's mineral resources, drilling results, 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.

Contact Information

  • Sulliden Gold Corporation
    Caroline Arsenault
    Investor Relations Manager
    (416) 861-5805

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