Sun Valley Gold LLC

September 30, 2005 10:29 ET

Sun Valley Gold LLC: Holdings of Common Shares of American Gold Capital Corporation

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 30, 2005) - Sun Valley Gold LLC ("Sun Valley") announces that it has acquired control and direction over, on behalf of client accounts over which it has discretionary trading authority, 1,000,000 common shares of American Gold Capital Corporation ("American Gold").

Immediately following the acquisition, Sun Valley owns, directly or indirectly, 3,189,484 common shares of American Gold, representing approximately 10.43% of American Gold's 30,581,025 issued and outstanding common shares, and exercises control or discretion over, on behalf of client accounts over which it has discretionary trading authority, 1,795,516 common shares of American Gold, representing approximately 5.87% of American Gold's issued and outstanding common shares, which are beneficially owned by Sun Valley Gold Master Fund, Ltd., the sole shareholders of which are Sun Valley Gold International, Ltd., of which Sun Valley is the Investment Manager, and Sun Valley Gold, L.P., of which Sun Valley is the General Partner.

The common shares of American Gold were acquired through the facilities of the TSX Venture Exchange on September 21, 2005.

Sun Valley has purchased these securities for investment purposes, and may increase or decrease its beneficial ownership of securities of American Gold depending upon future market conditions.

Contact Information

  • Mr. Peter F. Palmedo
    President, Sun Valley Gold Company
    Managing Member, Sun Valley Gold LLC
    (208) 726-2327
    (208) 726-2469 (FAX)