Sulliden Gold Corporation
TSX : SUE
OTCQX : SDDDF

Sulliden Gold Corporation

August 31, 2010 10:30 ET

Sulliden Ramps Up Exploration Activities on Shahuindo

TORONTO, ONTARIO--(Marketwire - Aug. 31, 2010) - Sulliden Gold Corporation Ltd. ("Sulliden", the "Company") (TSX:SUE)(OTCQX:SDDDF) is pleased to announce that four drills are now operating on the Shahuindo property in Peru to advance the largest and most extensive drilling program ever conducted on the site.

Sulliden is currently undertaking a 30,000 meter exploration campaign, planned for completion by the end of 2010. The program was initiated in late July (see July 20, 2010 press release) with one drill and the Company has since added an additional three rigs to accelerate exploration activities. An updated NI 43-101 Resource Estimate will be prepared in conjunction with the Feasibility Study, currently underway by Kappes, Cassiday & Associates of Reno, Nevada. These reports are expected in the first quarter of 2011.

ABOUT SULLIDEN

Sulliden is a Canadian-based mining company focused on the exploration and development of its wholly owned Shahuindo Gold Project, located in Peru. This area is one of the world's most prolific gold producing districts and is home to world-class gold mines including Barrick Gold's Lagunas Norte Mine, 30 km to the south, and the Yanacocha Mine operated by Newmont Mining Company, 80 km to the north; both million-ounce per year producing mines. A positive Preliminary Economic Assessment for the Shahuindo Gold Project was completed in December 2009 and a Feasibility Study is currently underway. While the Company progresses towards its goal of reaching production in 2012, a significant focus is being placed on exploration drilling to expand the mineral resource, which remains open in all directions and at depth. Sulliden is led by a strong management team with the proven ability to develop, finance, operate and explore mining projects and is positioned 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 effect of the appointment on the future financial or operating performance of the Company, the size and quality of the company's mineral resources, 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
    or
    Sulliden Gold Corporation Ltd.
    Scott Moore
    Vice President Corporate Development
    (416) 861-5903
    www.sulliden.com