True Gold Mining Inc.

TSX VENTURE : TGM


True Gold Mining Inc.

August 22, 2013 07:00 ET

True Gold Exploration Program Identifies Widespread Near-Surface Gold at Liguidi

23 of 24 RC drill holes return mineralization; gold-in-soil anomaly expands to 17 kilometres

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 22, 2013) - True Gold Mining Inc. (TSX VENTURE:TGM) ("True Gold" or the "Company") is pleased to announce that a recently completed exploration program at the Company's Liguidi Project ("Liguidi") in Burkina Faso, West Africa has returned widespread near-surface gold mineralization and expanded the project's main gold-in-soil anomaly to 17 kilometres in length.

The exploration program included 3,680 metres of reverse circulation ("RC") drilling over a 1.8-kilometre strike length at the Lagaré's Zone ("Lagaré"), in the central portion of Liguidi's main gold-in-soil anomaly. Lagaré had returned highly anomalous gold in prior grab and trench sampling, and in rotary air blast ("RAB") and RC drill campaigns in 2012. The current RC program returned encouraging results, with mineralization intersected in 23 of 24 holes. Highlight results include:

  • 5.81 g/t gold over 4.0 metres, in LMG-13-RC-041
  • 3.91 g/t gold over 4.0 metres, in LMG-13-RC-034
  • 2.23 g/t gold over 8.0 metres, in LMG-13-RC-048
  • 2.12 g/t gold over 8.0 metres, in LMG-13-RC-037
  • 1.05 g/t gold over 12.0 metres, in LMG-13-RC-046
  • 1.00 g/t gold over 8.0 metres, in LMG-13-RC-056

"Liguidi exploration work continues to return extensive near-surface gold mineralization throughout the property, enhancing its status as a pipeline project with strong potential to contribute significantly to True Gold's long-term growth," said Dwayne Melrose, President and CEO, True Gold.

In addition to work at Lagaré, True Gold completed detailed geological mapping and geochemical sampling on the anomaly's four-kilometre southwest grid, collecting 3,539 soil samples in the area. A new zone of mineralization (Dayilba) was discovered during the course of the survey. It returned an average grade of 0.56 g/t gold to a maximum of 22 g/t gold from 195 grab samples, and extended the main gold-in-soil anomaly an additional four kilometres to the southwest for a total length of 17 kilometres.

"The results of this exploration program significantly expand the footprint of the gold mineralizing system at Liguidi and reinforce the potential to find further near-surface oxide gold throughout the property," said Ian Cunningham-Dunlop, Senior Vice President of Exploration, True Gold. "To date, we have only carried out focused exploration over a small portion of the overall Liguidi anomaly, with many priority targets yet to be drill-tested."

To review drill maps for Liguidi, please click on this link: http://truegoldmining.com/sites/default/files/news/130612v1-130110LiguidiReleaseLtrLand.pdf.

For a full table of recent results related to gold mineralization, please click on this link: http://truegoldmining.com/sites/default/files/news/Copy_of_Liguidi_Results.pdf.

True Gold holds a 100% interest in the Liguidi Project, which is located 125 kilometres southeast of the capital city of Ouagadougou and consists of a single exploration permit totalling 168 square kilometres. It is underlain by the Birimian-age Manga Greenstone Belt and lies within the northeast-trending Markoye Structural Zone ("Markoye Fault"), a significant regional feature hosting Iamgold's Essakane Mine, High River Gold's Tarparko-Bouroum Mine, Orezone's Bomboré Deposit, and Volta Resources' Kiaka Deposit. A prominent northeast trending shear zone (the "Liguidi Shear"), interpreted to be a splay off the Markoye Fault, runs through Liguidi from the southwest to the northeast corner of the permit and is coincident with the main gold-in-soil anomaly.

The 2013 RC drilling tested a strike length of 1.8 kilometres at Lagaré's on approximately 125-metre centres, to an average depth of 150 metres at 335 degrees azimuth and -45 degrees dip. The holes targeted shear-hosted gold mineralization within the main northeast trending Liguidi Shear and plunging intersections between the shear zone and east-west trending extensional quartz veins, a setting similar to other deposits of this class within Burkina Faso.

Ian Cunningham-Dunlop, P. Eng., Senior Vice President Exploration, is the Company's designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and verified that the technical information contained in this release is accurate and approves of the written disclosure of same. True widths are estimated to be 50 to 90% of the intersected widths.

Samples were assayed by ALS Chemex in Ouagadougou, Burkina Faso, West Africa. Assays were by Fire Assay with AAS finish and repeats of all AAS assays over 5.0 g/t by Fire Assay with gravimetric finish. Control samples (accredited standards, blanks and duplicate samples at the preparation stage) were inserted on a regular basis every 10 samples. Results were monitored on receipt of assays.

About True Gold

True Gold Mining Inc. is where gold comes to life. We are committed to growing a profitable gold exploration, development and production company, by focusing on projects with low costs, low technical risks and solid economics. The Company's board, management and technical teams have proven track records in gold exploration, development, operations and production worldwide.

Additional information about the Company and its activities may be found on the Company's website at www.truegoldmining.com and under the Company's profile at www.sedar.com.

ON BEHALF OF THE BOARD

Dwayne Melrose, President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements made and information contained in this news release and elsewhere constitutes "forward-looking information" within the meaning of Canadian securities legislation. Such forward-looking statements are based on certain assumptions and are subject to risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, with respect to statements regarding the potential increase to long-term growth of the Company, the assumptions set forth in this news release and in the risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits, the possibility that future exploration and development results will not be consistent with the Company's expectations, accidents, equipment breakdowns, risk of undiscovered, title defects and surface access, labour disputes, the potential for delays in exploration and permitting activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, political risk and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis and in the Company's annual information form which are available under the Company's profile at www.sedar.com. Forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of gold, that the Company will receive and/or retain required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour and that the political environment within Burkina Faso will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

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