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Centerra Gold Updates Reserves and Resources Total Gold Reserves 8.1 million Contained Ounces

admin — Thu, 09 Feb 2012 22:30:00 +0000

TORONTO, ONTARIO–(Marketwire – Feb. 9, 2012) -

This news release contains forward-looking information that is subject to the risk factors and assumptions set out on page 14 and in our Cautionary Note Regarding Forward-looking Information on page 16. All figures are in United States dollars.

Centerra Gold Inc. (TSX:CG) today issued updated estimates for the Company’s reserves and resources based on its successful 2011 exploration program.

Highlights (using $1,200/oz. gold)

Replaced reserves mined in Kumtor Central Pit.
Measured and Indicated resource base increased 36% or 1.8 million contained ounces of gold to 6.7 million contained ounces of gold.
Added 393,000 ounces of contained gold to the high-grade inferred SB Underground resource.
Initial Measured and Indicated resource of 824,000 ounces of contained gold at the ATO project in Mongolia.
New gold resource of 289,000 contained ounces Indicated and 211,000 contained ounces Inferred on the Kara Beldyr project in Russia.
Opportunity for resources at Ortaçam North in Turkey.

During 2011, Centerra’s Proven and Probable gold reserves increased 694,000 contained ounces (before accounting for 2011 production) to 8.1 million ounces of contained gold, compared to 8.2 million ounces as of December 31, 2010. This represents an increase of 9% before accounting for 793,000 contained ounces processed at Kumtor and Boroo during 2011. All 2011 year-end reserves were estimated using a gold price of $1,200 per ounce compared to $1,000 per ounce at December 31, 2010.

At the Kumtor mine, in the Kyrgyz Republic, an estimated 704,000 ounces of contained gold have been added to reserves, representing an increase of 11%, before accounting for 2011 production. After accounting for processing of approximately 709,000 ounces of contained gold in 2011, Kumtor’s proven and probable mineral reserves remain at 6.3 million ounces of contained gold as of December 31, 2011.

In Mongolia, at the Boroo mine, after accounting for processing of approximately 84,000 ounces of contained gold in 2011, proven and probable reserves total 298,000 ounces of contained gold. At the reserve gold price assumption, the Boroo operation could potentially continue to feed the mill for over two years utilizing existing low-grade stockpiles. At the Gatsuurt project, proven and probable reserves remain unchanged at 1.5 million ounces of contained gold.

Steve Lang, President and CEO of Centerra Gold said: “2011 was another successful exploration year for Centerra. We replaced reserves mined at Kumtor, generated initial resources at ATO and Kara Beldyr, and brought more than 2.4 million new ounces of gold into reserves plus resources and an additional 600,000 ounces of gold into inferred resources at an average cost of less than $15 per ounce. We entered our first joint venture in China, added a second joint venture in Russia and our strong drill results at Ortaçam North in Turkey should produce an initial resource statement by the end of 2012.”

Year-end Reserves and Resources

Reserves

As of December 31, 2011, Centerra’s proven and probable reserves increased 694,000 contained ounces (before accounting for 2011 production) to 8.1 million ounces of contained gold, compared to 8.2 million ounces as of December 31, 2010. This represents an increase of 9% before accounting for 793,000 contained ounces processed at Kumtor and Boroo during 2011. All 2011 year-end reserves were estimated using a gold price of $1,200 per ounce compared to $1,000 per ounce at December 31, 2010.

At Kumtor, before accounting for the processing of 709,000 contained ounces during 2011, proven and probable reserves increased by 704,000 contained ounces of gold replacing reserves mined during the year. All of the increase in the Central Pit open pit reserves is a result of additional exploration drilling primarily on the Southwest Extension of the SB Zone. This drilling has continued to outline a new zone of mineralization that lies immediately to the northwest of the Southwest Extension of the SB Zone. The drilling has also increased the average reserve grade for the Central Pit to 3.7 g/t Au, compared to 3.4 g/t Au in 2010. There has been no change in cut-off grades used for reserve estimation.

At Boroo, after accounting for the processing of 84,000 contained ounces during 2011, proven and probable reserves total 298,000 contained ounces of gold. At the reserve gold price assumption, the Boroo operation could potentially continue to feed the mill for over two years utilizing existing low-grade stockpiles.

At Gatsuurt, proven and probable reserves remain unchanged at 1.5 million contained ounces of gold.

Resources

As of December 31, 2011, Centerra’s measured and indicated resources increased by 36% or 1.8 million ounces over the December 31, 2010 figures to total 6.7 million ounces of contained gold, compared to 4.9 million contained ounces as of December 31, 2010. The increase from the 2010 year-end measured and indicated resources is attributable to an increase in resources at Kumtor together with the addition of new resources for both the ATO project in Mongolia and the Kara Beldyr joint venture project in Russia.

The Company’s inferred resources also increased by 570,000 contained ounces of gold year-over-year. At Kumtor, the inferred resources in the high-grade underground SB Zone increased by 393,000 contained ounces to 1.8 million contained ounces of gold with an average grade of 13.6 g/t. This increase is primarily a result of exploration drilling that has extended the strike length of the high-grade underground resources along strike to the northeast and southwest. The cut-off grade was lowered to 6 g/t Au, from the 7 g/t Au used in previous estimates, which reflects updated cost estimates for mining, however, this has only a minimal impact of the resource estimation. Inferred open pit resources decreased by 65,000 contained ounces of gold in the Central Pit. In addition, exploration drilling in 2011 at the Northeast Prospect resulted in the addition of 150,000 contained ounces of gold to the inferred open pit resources to 278,000 ounces of contained gold with an improvement of grade to 2.1 g/t Au.

The initial resource estimate for the ATO project in Mongolia has a measured and indicated resource of 824,000 ounces of contained gold together with significant silver, lead and zinc and an inferred resource of 26,000 ounces of contained gold together with silver, lead and zinc.

The resource estimate on a 100% basis for the Gord Zone on the Kara Beldyr property in Russia has an indicated resource of 289,000 ounces of contained gold and an inferred resource of 211,000 ounces of contained gold. At the time of the news release Centerra holds a 70% equity interest in the property.

Read the full news release

Iron ore, check; Indian companies now looking to bid on Afghan copper, gold deposits

admin — Thu, 09 Feb 2012 21:37:58 +0000

After achieving a toe-hold in Afghanistan with the award of a major iron ore contract, Indian companies are turning their attention to the troubled country’s copper and gold reserves.

According to Livemint.com, iron and steel company Monnet Ispat and Energy Ltd is talking with state-owned Steel Authority of India Ltd. (SAIL) about forming a new consortium to bid for Afghanistan’s copper and gold reserves:

“Afghanistan is a good opportunity. It is at a nascent stage and we can enter it now,” Sandeep Jajodia, executive vice-chairman and managing director of Monnet Ispat, said in an interview. “We have got a big mining and geological department. All we need to do is attach some copper and gold-specific people to it.”

In November a consortium of Indian companies led by SAIL was awarded a multi-billion-dollar contract (the steel plant, power plant and 200km of rail, road and power lines are estimated to cost $10.8 billion) to mine the huge Hajigak iron ore deposit in Afghanistan — considered one of the largest iron deposits in the world at 1.8 billion tonnes.

The other companies were state-run Rashtriya Ispat Nigam Ltd., private-sector firms JSW Steel Ltd., Jindal Steel & Power Ltd., JSW Ispat Steel Ltd., Monnet Ispat & Energy Ltd., and Canada’s Kilo Goldmines.

Livemint.com reports that Afghanistan has invited expressions of interest for gold and copper deposits in four provinces:

“The government is very keen to build a mineral belt in Afghanistan. We have already won iron ore deposits, we could have a common infrastructure for others,” said a senior official in the mines ministry, who requested anonymity.

State-run Hindustan Copper Ltd and Mineral Exploration Corp. Ltd. are the other two Indian companies likely to join the consortium, according to the news report.

China has also moved to acquire mining interests in Afghanistan with state-owned Metallurgical Corp’s successful $3.4bn bid to build a copper mine – and a $6bn railway to go with it – that should enter production in 2014.

MINING.com linked to an article last year about a 2007 US Geological Service survey that pointed to $1 trillion in mineral deposits in Afghanistan, which could “fundamentally alter the Afghan economy and perhaps the Afghan war itself.”:

The previously unknown deposits — including huge veins of iron, copper, cobalt, gold and critical industrial metals like lithium — are so big and include so many minerals that are essential to modern industry that Afghanistan could eventually be transformed into one of the most important mining centers in the world. An internal Pentagon memo, for example, states that Afghanistan could become the “Saudi Arabia of lithium,” a key raw material in the manufacture of batteries for laptops and BlackBerrys.

AFP reported in November that foreign powers are eyeing Afghanistan’s resource spoils even before the guns fall silent, in the war that began with the US invasion of Afghanistan in 2001 after the terrorist attacks on the United States:

While an end to the fighting seems remote for now, mining lots are being quickly parcelled out among Afghanistan’s resource-hungry neighbours, potentially sparking a new “Great Game” for control of its battle-worn ground.

According to mining ministry documents seen by AFP, Afghanistan is planning to sell extraction rights for up to five mines every year until the departure of the last foreign combat troops in 2014 — a rattling pace, say experts.

Pershimco Resources Inc Announces CAD20,000,000 Bought Deal Financing

admin — Wed, 08 Feb 2012 16:51:00 +0000

ROUYN-NORANDA, QUEBEC–(Marketwire – Feb. 8, 2012) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Pershimco Resources Inc. (TSX VENTURE:PRO)(FRANKFURT:BIZ) (“Pershimco” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate co-led by Clarus Securities Inc. and GMP Securities L.P., and including PowerOne Capital Markets Limited and Jennings Capital Inc. (collectively, the “Underwriters”), to purchase, on a bought deal private placement basis, 20,000,000 common shares of the Company at a price of C$1.00 per common share, for aggregate gross proceeds of C$20,000,000. The Company has also granted to the Underwriters an over-allotment option to purchase an additional 3,000,000 common shares at the same price, exercisable by the Underwriters no later than two days prior to closing for additional gross proceeds of up to C$3,000,000.

Pershimco plans to use the net proceeds of the offering to fund exploration and advancement of the Company’s Cerro Quema Project in Panama and for general corporate purposes.

The offering is scheduled to close on or about February 29, 2012, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The securities to be issued under this offering will be offered by way of private placement exemptions in all the provinces of Canada, offshore including in the United Kingdom pursuant to applicable exemptions and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the issuer and its management, as well as financial statements.

About Pershimco Resources Inc.

Pershimco Resources Inc. is a Canadian-based resources and exploration corporation listed on the TSX Venture Exchange and the Frankfurt Exchange. The Corporation holds several mining properties in Canada and South America including the extraction permitted Cerro Quema advanced project in Panama and the Courville Gold Project, in the Val-d’Or Gold Mining Camp, coowned in partnership with Osisko Mining Corporation. The Corporation is managed by skilled and reputable people with extensive mining exploration and development experience. The Pershimco Team and our investors are the key to our success.

The Corporation’s documents are available on www.sedar.com.

Please visit the Corporation’s website at www.pershimco.ca.

Statements made in this news release that are not historical facts are “forward-looking statements” and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these “forward-looking” statement.

Neither the 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 news release.

Northern Gold Raises Over $3.8M Through the Exercise of Warrants Issued Pursuant to a $2,500,500 Previous Private Placement

admin — Fri, 03 Feb 2012 19:33:58 +0000

TORONTO, ONTARIO–(Marketwire – Feb. 3, 2012) - Northern Gold Mining Inc. (“Northern Gold” or the “Company”) (TSX VENTURE:NGM) announces that since issue 25,074,270 warrants have been exercised for gross proceeds of $3,862,700.

The warrants exercised relate to a private placement financing for aggregate gross proceeds of $2,500,500 which closed on July 5, 2010 pursuant to which Flow-Through Units and Hard Dollar Units were sold. The warrants issued in connection with this private placement expired on January 16, 2012 and January 20, 2012. The funds received have been used to supplement general corporate working capital. The Company now has 155,947,210 shares issued and outstanding.

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 will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Northern Gold Mining: Northern Gold Mining Inc. is a TSX-V listed, publicly traded junior resource company based in Toronto, Ontario, dedicated to the discovery and development of high value mineral deposits in the proven mining camps of Kirkland Lake and Timmins in North Eastern Ontario. Northern Gold is focused on developing two advanced stage gold deposits on its 100% owned Garrison Gold Property. In addition to the advanced stage Jonpol and Garrcon Gold Deposits, both of which have NI 43-101 compliant mineral resource estimates presented in independent NI 43-101 Technical Reports posted to SEDAR (October 21, 2009, October 23, 2010 and August 8, 2011), the property hosts several other gold mineralized showings including the less advanced 903 gold mineralized area. A Preliminary Economic Assessment is included in the 43-101 Technical Report posted to SEDAR August 8, 2011. The Garrison Gold Property has historical mining infrastructure at both the Jonpol and Garrcon Deposits, and currently producing mines are located near the property.

The technical aspects of this press release have been reviewed by Michael Gross M.S., P. Geo., and Vice-President Exploration for Northern Gold, who is the “Qualified Person” as defined by NI 43- 101 for this project.

CAUTIONARY STATEMENT: This News Release includes certain “forward-looking statements.” These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

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.

White Tiger Announces Start of Long Hole Production at Lamaque

admin — Fri, 03 Feb 2012 18:58:23 +0000

ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLES–(Marketwire – Feb. 3, 2012) - White Tiger Gold (“White Tiger” or the “Company”) (TSX:WTG) is pleased to announce that it is starting Long Hole ore production from the mines North Wall.

Since the Business Combination completion the Company’s focus has been on the restarting of the Long Hole ore production stoping at Lamaque to provide a substantial increase in ore feed given the scale of the dyke stopes. To this end in the fourth quarter White Tiger provided the funding to complete the following task;

Allow the restart of the CMAC the mining contractor in order to complete the capital development required to provide access the ore resources in the North Wall.
Purchase of two diamond drills to provide improved definition drilling on the ore resources
Enlargement of the senior mining team to provide improved technical and operational supervision

The Company is pleased to announce that sufficient development has been completed in the North Wall now to allow the operation there to start ore mining, while development continues to expand the available resources.

At the same time Lamaque mining staff has been focused on improving ore access and development in the Lamaque Flats in order to improve production rates and ore grade. These improvements combined with the addition ore that will come from the Long Hole stopes will enable the Lamaque Mine to ramp up its production towards it planned 2000 tonnes per day.

“Since the completion of the Business Combination significant progress has been made in the fourth quarter, particularly the development to restarting long-hole dyke stoping operations at Lamaque,” said Daniel Major, President and CEO of White Tiger Gold. ” We are therefore happy to announce that we have reached the point that Long Hole stoping can start at the Lamaque and that we can now start to push the mine to its planned production rate of 2000 tonnes per day.”

Forward-Looking Statement:

This news release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws including with respect to the entering into of a definitive loan facility agreement with VTB, the completion of the planned production expansions Lamaque, San Juan and Savkino, and the development of the Company’s Nasedkino property. Words such as “may”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate” and similar terminology are used to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by the management of White Tiger Gold in light of their experience, current conditions and their expectations of future developments as well as other factors which they believe to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to: uncertainties relating to the interpretation of the geology, continuity, grade and size of estimates; unanticipated operational or technical difficulties; changes in the availability of qualified personnel; changes in equity and debt markets; fluctuations in gold and other commodity prices; as well as other risks and uncertainties which are more fully described in White Tiger Gold’s Annual Information Form dated March 30, 2011 and its annual and quarterly Management’s Discussion and Analysis and in other filings made by White Tiger Gold with Canadian securities regulatory authorities and available at www.sedar.com.

Any forward-looking statement and information speaks only as of the date on which it is made and, except as may be required by applicable laws, White Tiger Gold disclaims any intent or obligation to update any forward-looking statement and information, whether as a result of new information, future events or results or otherwise. Although White Tiger Gold believes that the assumptions inherent in the forward-looking statements and information are reasonable, forward-looking statements and information are not guarantees of future performance and accordingly undue reliance should not be put on such statements or information due to the inherent uncertainty therein.

Paramount Gold and Silver reports significant intercepts on Don Ese and La Union deposits on its San Miguel project including 17.6 meters grading 2.75…

admin — Tue, 31 Jan 2012 16:36:48 +0000

WINNEMUCCA, NEVADA–(Marketwire – Jan. 31, 2012) - Paramount Gold and Silver Corp. (NYSE Amex:PZG)(TSX:PZG)(FRANKFURT:P6G)(WKN:A0HGKQ) (“Paramount”) today reported new assay results from ongoing core drilling at its 100%-owned San Miguel Project in Mexico. The reported drill holes come from the high-grade gold and silver deposits of Don Ese North and La Union.

Three new core holes drilled at Don Ese North have intersected widths of up to 17.6 meters of strong gold and silver values including 6.0 meters grading 6.89 g/T of gold and 363.62 g/T of silver. This drilling, together with previously reported results, continues to confirm the persistent strength of this wholly-owned high-grade zone first discovered by Paramount just over one year ago (see news release ofDecember 9, 2010).

The Don Ese North vein strikes north-northwest directly towards the nearby Palmarejo Mine owned by Couer d`Alene and appears to be an extension of the structure which hosts this highly successful gold-silver producer. True width of the Don Ese vein is typically in the range of 10 meters but is locally up to 19 meters wide. Don Ese is a massive quartz vein with textures characteristic of low sulfidation, epithermal deposits consistent with other vein deposits in the district such as the Palmarejo. To date, the mineralized vein has been traced by core drilling for nearly 1,000 meters along strike and the feature remains open down dip. Paramount is also expecting to receive permits shortly to expand drilling along strike on to its wholly-owned Don Ese South target area.

To date, a total of 20 drill holes totaling 10,050 meters have been completed into Don Ese North of which only seven holes were incorporated into the current NI 43-101 resource estimate prepared by Mine Development Associates (MDA, www.mda.com) of Reno, Nevada and released on April 11, 2011 (see news release). Another four drill holes are planned prior to starting geological modeling and updating the resource. Measured and indicated resources for this deposit are expected to increase significantly.

Assays from another core hole into the central portion of La Union provide further evidence that the high grade in this deposit remains open to the north as well as to the south and at depth. La Union is part of what is now believed to be a continuous mega structure which strikes for at least seven kilometers from La Veronica in the north to Santa Clara (see January 11th, 2012 news release for details). Paramount will shortly begin drilling the 2.5 kilometers of this mega structure which have not yet been tested.

To view long sections with drill hole locations of both the La Union and Don Ese zones, go tohttp://paramountgold.com/Projects/SanMiguel_Maps.asp.

Assays from the four most recent San Miguel drill holes are as follows:

Hole #	Area	Total Length (m)	From (m)	To (m)	Width (m)	Au g/T	Ag g/T
DS-11-021	DON ESE	557.95	523.85	526.85	3.00	0.39	48.72
DS-11-023	DON ESE	527.45	478.05	487.20	9.15	1.76	128.24
		including	481.70	484.20	2.50	4.62	293.40
			489.70	492.20	2.50	0.26	46.03
DS-11-024	DON ESE	475.50	403.10	420.70	17.60	2.75	166.83
		including	410.65	416.65	6.00	6.89	363.62
LU-12-023	LA UNION	155.50	106.35	110.15	3.80	1.08	27.36
			116.10	135.30	19.20	2.07	3.97
		including	97.70	98.40	0.70	4.18	15.60

The orientation of these drill holes was designed to intercept the structural features at right angles so as to provide a close approximation to true width. However, deep intercepts may have intersected the structures at less than right angles due to normal deviation encountered in drilling.

Christopher Crupi, Paramount`s CEO, commented that “the Don Ese increasingly resembles the neighboring Guadalupe deposit on Coeur`s Palmarejo’s Project. The Guadalupe, which is now being prepared for production later this year, is just one km to the west of Don Ese and contains measured and indicated resources of 0.45 million ounces of gold and 37.3 million ounces of silver (as of January, 2010). Ore from the Guadalupe deposit will be moved by road to the Palmarejo mill which has the effect of improving access to Don Ese. Meanwhile, every hole we drill in the La Veronica-Santa Clara mega structure takes us closer to the possibility that this is one continuous precious metal occurrence with major economic consequences. We are very excited to begin filling in the gaps in this corridor.”

During the last two quarters of 2011, Paramount`s drill program was focused on infilling and expanding known deposits on the San Miguel Project to improve the quality of resources from inferred to measured and indicated for the Preliminary Economic Assessment (PEA) expected in 2012. Drilling is now being shifted to exploring for new resources in the gaps of the mega structure and other untested targets.

A new resource estimate by MDA is expected during the second quarter of 2012 for the entire San Miguel Project which will include 2011 and early 2012 drill results. This new estimate will be incorporated into the PEA planned for later this year which will evaluate mining scenarios, mining rates and process alternatives and define a path to a Preliminary Feasibility Study which would report reserves.

Exploration activities at San Miguel are being conducted by Paramount Gold de Mexico S.A de C.V personnel under the supervision of Glen van Treek, Exploration Vice President of the Company and Bill Threlkeld, a Qualified Person as defined by National Instrument 43-101, who have both reviewed and approved this press release. An ongoing quality control/quality assurance protocol is being employed for the program including blank, duplicate and reference standards in every batch of assays. Cross-check analyses are being conducted at a second external laboratory on 10% of the samples. Samples are being assayed at ALS Chemex, Vancouver, B.C., using fire assay atomic absorption methods for gold and aqua regia digestion ICP methods for other elements.

About Paramount Gold

Paramount Gold is a U.S. based exploration and development company with multi-million ounce advanced stage precious metals projects in Nevada (Sleeper) and northern Mexico (San Miguel). Fully funded exploration programs are now in progress at these two core projects which are expected to generate substantial additional value for our shareholders. Engineering studies are scheduled for completion in 2012 to define a development path and economic valuation for each project.

The 100% owned San Miguel Project consists of 188,000 hectares (465,000 acres) in the Palmarejo District of northwest Mexico, making Paramount the largest claim holder in this rapidly growing precious metals mining camp. The current work program at San Miguel is part of Paramount’s strategy of expanding and upgrading known, large-scale precious metal occurrences in established mining camps, defining their economic potential and then partnering them with nearby producers. The San Miguel Project is ideally situated near established, low cost production where the infrastructure already exists for early, cost-effective exploitation. Paramount also owns 100% of the Sleeper Gold Project which is emerging as one of Nevada’s largest new undeveloped gold resources. (See global resource table below).

SUMMARY OF ALL PZG NI 43-101 COMPLIANT RESOURCE ESTIMATES

MEASURED AND INDICATED RESOURCES

PROJECT	Tonnes	Au g/T	Au Ounces	Ag g/T	Ag Ounces
San Miguel	8,005,000	0.38	98,800	62.00	15,759,000
Sleeper	172,763,453	0.47	2,625,399	4.56	25,337,575
Total			2,724,199		41,096,575

INFERRED RESOURCES

PROJECT	Tonnes	Au g/T	Au Ounces	Ag g/T	Ag Ounces
San Miguel	45,890,000	0.60	877,700	38.00	56,848,000
Sleeper	81,754,167	0.43	1,120,410	3.12	8,202,962
Total			1,998,110		65,050,962

For a detailed report on these resource estimates, their QPs and methodologies please see the following news releases: April 11, 2011 (San Miguel); September 13, 2011 (Sleeper); and December 28, 2011 (San Miguel).

Cautionary Note to U.S. Investors Concerning Estimates of Indicated and Inferred Resources

This news release uses the terms “measured and indicated resources” and “inferred resources”. We advise U.S. investors that while these terms are defined in, and permitted by, Canadian regulations, these terms are not defined terms under SEC Industry Guide 7 and not normally permitted to be used in reports and registration statements filed with the SEC. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves”, as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally minable

Safe Harbor for Forward-Looking Statements:

This release and related documents may include “forward-looking statements” including, but not limited to, statements related to the interpretation of drilling results and potential mineralization, future exploration work at the San Miguel Project and the expected results of this work. Forward-looking statements are statements that are not historical fact and are subject to a variety of risks and uncertainties which could cause actual events to differ materially from those reflected in the forward-looking statements including fluctuations in the price of gold, inability to complete drill programs on time and on budget, and future financing ability. Paramount’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Words such as “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: uncertainties involving interpretation of drilling results, environmental matters, lack of ability to obtain required permitting, equipment breakdown or disruptions, and the other factors described in Paramount’s Annual Report on Form 10-K for the year ended June 30, 2011 and its most recent quarterly reports filed with the SEC.

Except as required by applicable law, Paramount disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.

Ivanhoe Australia appoints investment bank UBS to advise on its ongoing strategic partnership process

admin — Tue, 31 Jan 2012 00:40:48 +0000

MELBOURNE, AUSTRALIA–(Marketwire – Jan. 30, 2012) - Robert Friedland, Chairman, and Peter Reeve, Chief Executive Officer of Ivanhoe Australia Limited (TSX:IVA)(ASX:IVA), are pleased to announce the appointment of UBS Investment Bank to assist the company in inviting and evaluating proposals from potential strategic partners in its Cloncurry project portfolio.

As previously announced, Ivanhoe Australia has been actively pursuing a range of alternatives and strategic partnerships to secure the long-term funding required to progress the development of its Cloncurry projects – the Osborne Copper-Gold Project, scheduled to enter production in March; the Merlin Molybdenum-Rhenium Project; the Mount Dore Cathode Copper Project and the Mount Elliott Copper-Gold Project – as well as advancing the company’s aggressive exploration program.

“As a global investment bank, UBS is well suited to assist us with approaches to large domestic and offshore companies and investors, and their appointment will formalise the strategic partnership process for us,” Mr. Reeve said.

“We have held detailed discussions with a number of parties during the past few months and look forward to working closely with UBS to bring the strategic partnering process to a timely and successful conclusion.”

“The interest we have received to date has been very encouraging and we expect that the sale of available minority interests in our assets would provide sufficient funding to help establish Ivanhoe Australia as one of the main base metals players in Australasia.”

Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) is Ivanhoe Australia’s largest shareholder and currently owns, directly and indirectly, approximately 59% of Ivanhoe Australia’s issued and outstanding shares.

This information is available on our website: www.ivanhoeaustralia.com

Forward-looking statements

Certain statements made herein, including statements relating to matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information and statements are typically identified by words such as “anticipate”, could”, “should”, “expect”, “seek”, “may”, “intend”, “likely”, “plan”, “estimate”, “will”, “believe” “potential”, “likely” and similar expressions suggesting future outcomes or statements regarding an outlook. All such forward-looking information and statements are based on certain assumptions and analyses made by Ivanhoe Australia’s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. The reader is cautioned not to place undue reliance on forward-looking information or statements.

Dr Caterpillar’s (excellent) prognosis for mining

admin — Thu, 26 Jan 2012 19:01:59 +0000

With revenues of $60 billion last year and operations at the ends of the earth, few companies are in a better position to take the pulse of the global economy and the resource sector than Caterpillar.

The world’s number one heavy equipment manufacturer (NYSE: CAT) delivered record-breaking sales and revenues in 2011 supplying profits of just under $5 billion, up 83% from last year.

Cat added more than 12 000 jobs, not counting the workers who joined the company from Bucyrus to bring its total workforce to 153,000.

But what is it saying about this year?

Here are some of the highlights from Caterpillar’s annual review and outlook for 2012:

We are almost out of the woods

“In our opinion, the risk of a worldwide recession has diminished significantly over the past quarter, but we remain concerned that central banks, particularly in developed economies, will react to the first signs of better growth by tightening economic policies. Even modest premature tightening could significantly slow economic growth.”

Cat can’t build mining trucks fast enough

“We expect 2012 to be a new sales record [$68 – $72 billion] at a time when construction activity in the United States and Europe—two large markets for us—are still depressed.”

We expect mining to continue to be strong globally, and we have a sizable order backlog for mining equipment. We expect sales to increase in 2012 and are in the process of adding production capacity for many of our mining products. However, we expect sales to be constrained by capacity throughout 2012.

Metal and commodity prices will rise

“We expect improving world economic growth to increase demand for commodities. Our outlook assumes most commodity prices will increase slightly in 2012 and continue at levels that encourage investment. We expect that copper will average over $4 per pound, Central Appalachian coal about $75 per ton and West Texas Intermediate crude oil about $100 per barrel.”

Growth in America will improve

The full impact [of Fed easing] has likely not materialized yet, and we expect economic growth will improve further in 2012. Our outlook assumes economic growth in the United States of at least 3 percent in 2012.”

Euroland will not bring us all down

“The Eurozone public debt crisis has been a lingering negative, but it is unlikely to trigger a worldwide recession. The Eurozone will likely have at least two quarters of weak, possibly negative growth, but should begin to improve in the second half of 2012.”

Asia and the Pacific – including Japan – will power ahead

“We project the Japanese economy will grow 3.5 percent in 2012, recovering from a 2011 recession. Rebuilding from the tsunami and more expansionary central bank policies are expected to drive the recovery. We expect economic growth in Asia/Pacific will exceed 6.5 percent in 2012, about the same as in 2011. Growth should improve in Australia and Indonesia, the result of recent interest rate cuts.”

For 2012, we are expecting economic growth in China of about 8.5 percent. We have seen the Chinese government begin to ease lending policies and expect that will continue in 2012.

Latin America will slow, but mining will continue to ramp up

“Growth in Latin America is expected to slow from 4.3 percent in 2011 to about 4.0 percent in 2012. Our outlook assumes interest rates will be flat to lower in most countries. We expect that economic growth will be sufficient for construction spending and mining output to increase.”

Africa is catching up with Asia’s pace

“Africa/Middle East will likely benefit from low interest rates and favorable commodity prices. We expect the regional economy will grow nearly 5.5 percent and that construction spending will continue to improve. “

Russia and Co will build and build

“We expect the CIS economies will grow more than 5 percent, and construction spending will increase more than 15 percent. Favorable factors include low interest rates, higher metals and energy prices, and increased production of oil, gas and metals.”

Balmoral commences 2012 winter drill program on Detour Gold Trend projects

admin — Thu, 26 Jan 2012 18:00:00 +0000

- Program to Focus on Expansion of High-Grade Martiniere Gold System; Follow-Up Drilling on Grasset Discovery

- Second Analyst Initiates Coverage on Balmoral

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 26, 2012) - Balmoral Resources Ltd. (“Balmoral” or the “Company”) (TSX VENTURE:BAR) announced today that its multi-rig winter 2012 drill program has commenced on the Company’s Detour Gold Trend Project in Central Quebec. Follow-up drill testing of the Company’s Grasset gold discovery has begun. Two additional drills are currently being mobilized and it is anticipated that expansion drilling, targeting the high-grade Martiniere West gold zone and several new high-grade gold discoveries in the Martiniere East area, will commence within the next 5-10 days. The Martiniere gold discoveries are located less than 45 kilometres from the Detour Gold Project which is currently under development.

“With the success of our summer/fall 2011 drill program we are obviously excited to begin the winter 2012 program on our Detour Gold Trend Properties,” said Darin Wagner, President and CEO of Balmoral Resources Ltd. “With the high-grade Martiniere West Zone moving toward initial resource definition and a number of new gold discoveries slated for expansion drilling, our Detour Trend holdings are beginning to demonstrate their outstanding potential.”

Winter 2012 Drill Program

Drilling has commenced on the Grasset gold discovery. Initial plans call for the completion of 12 to 15 drill holes (approximately 4,000 metres) in the Grasset area. Drilling will initially focus on expanding the Grasset gold discovery itself through broadly spaced drilling along the Sunday Lake Deformation Zone. Three additional targets in the Grasset area, including two prominent conductors identified by the airborne EM survey completed in late 2011, are also slated for testing.

Balmoral will commence expansion drilling of its high-grade Martiniere West Zone with 2 drills within the next 5-10 days. 2011 drilling traced the Martiniere West Zone for 380 metres along strike and to a depth of 170 metres with the Zone remaining open in all directions. Drilling will initially focus on potential extensions of the West Zone along strike at shallow depths, and then proceed to test the Zone below the 170 metre level. Initial testing of a 300 metre span which separates the West Zone from the historic Central Zone, which share strong geological similarities, will be a high priority in hopes of linking the two zones of gold mineralization and more than doubling the current strike extent of the system.

Drilling at Martiniere will also include follow-up testing of a number of new discoveries announced in December of 2011. These include the high-grade ME-16 discovery which returned 9.33 metres grading 12.93 g/t gold and a high-grade gold and silver bearing breccia which returned 76.40 g/t gold and 1390 g/t silver in hole ME-11-09 (see NR11-31, December 5, 2011). Balmoral hopes to complete approximately 12,000 metres of diamond drilling on the Martiniere Project during the current program.

Balmoral has engaged Equity Exploration Consultants Ltd. of Vancouver, B.C. to assist with project execution and management for the 2012 winter drill program on its Detour Gold Trend Project.

The Martiniere and Grasset properties form part of Balmoral’s district scale Detour Gold Trend Project. The Project extends for over 80 kilometres along the regional gold-bearing Detour-Sunday Lake Deformation Zone, which hosts the multi-million ounce Detour Gold deposit currently under development adjacent to Balmoral’s holdings.

Second Mining Analyst Initiates Coverage on Balmoral

Mr. Eric Lemieux of Laurentian Bank Securities in Montreal has recently initiated formal research coverage on Balmoral. He joins Mr. Marc Johnson of MPartners in Toronto in covering the Company. Contact details for Mr. Lemieux and Mr. Johnson are available on the Company’s website. In addition, the Company has been added to the 2012 “watchlists” at Canaccord-Genuity Capital, Haywood Securities and Union Securities.

“We are pleased to see our efforts receiving broad based third party recognition in the investment community and hope to provide a great deal for the respective mining analysts to write about during 2012,” said Mr. Wagner.

Quality Control and Assurance

Mr. Darin Wagner (P.Geo.), President and CEO of the Company, is the non-independent qualified person for the technical disclosure contained in this news release and has approved the disclosure herein. Mr. Wagner has supervised the initial work programs on the properties, visited the properties on multiple occasions, examined the drill core from the holes summarized in this release and reviewed the analytical and quality control results.

About Balmoral Resources Ltd. - www.balmoralresources.com

Balmoral is a Vancouver-based precious metal exploration and development company focused on district scale gold opportunities in politically favourable jurisdictions in North America. With a philosophy of creating value through the drill bit and with a focus on proven productive precious metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through resource definition and discovery.

On behalf of the board of directors of BALMORAL RESOURCES LTD.

Darin Wagner, President and CEO

This press release contains forward-looking statements and forward-looking information (collectively, “forward looking statements”) within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company’s expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company’s projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company’s ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company’s ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company’s ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed via www.sedar.comand readers are urged to review these materials, including the latest technical reports filed with respect to the Company’s mineral properties.

This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company’s properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

Neither the 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 press release

Midas Gold Announces CDN$35 Million Financing

admin — Tue, 24 Jan 2012 14:03:53 +0000

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 24, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Midas Gold Corp. (“Midas Gold” or the “Company”) (TSX:MAX) today announced that it has entered into an agreement with a syndicate of underwriters, led by Haywood Securities Inc., and including Macquarie Capital Markets Canada Ltd., BMO Capital Markets, RBC Capital Markets Inc. and Desjardins Securities Inc. (collectively the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 7,900,000 special warrants (the “Special Warrants”) of the Company at a price of CDN$4.45 per Special Warrant, for gross proceeds of CDN$35,155,000 (the “Offering”). The Company intends to use the net proceeds of the Offering for exploration and development of its Golden Meadows Project in central Idaho, and for general working capital purposes.

Each Special Warrant will be exercisable into one common share of the Company (a “Common Share”) for no additional consideration at any time after the Closing Date (as defined below), and all unexercised Special Warrants (other than Special Warrants sold in the Province of Quebec) will be deemed to be exercised on the earlier of (a) the date on which a receipt for a final prospectus (“the Qualifying Prospectus”) qualifying the Common Shares to be issued upon the exercise of the Special Warrants has been issued by the relevant securities commission(s), or (b) four months and one day after the date of closing of the Offering (the “Closing Date”). All Special Warrants in the Province of Quebec will be deemed to be exercised on the date that is four months and a day following the Closing Date.

In addition, the Underwriters have also been granted an option to purchase up to an additional 1,185,000 Special Warrants on the same terms as set out above (the “Over-Allotment Option”), which may be exercised at any time up to 24 hours prior to the Closing Date, for additional proceeds of up to CDN$5,273,250. The Underwriters will be paid a cash fee equal to 5.0% of the total gross proceeds from the sale of Special Warrants under the Offering and the Over-Allotment Option.

The Special Warrants to be sold under this Offering will be offered by way of a private placement in all of the Provinces of Canada and will also be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

The Offering is scheduled to close on February 14, 2012 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX, and other securities regulatory authorities as applicable. Midas Gold has agreed to use commercially reasonable efforts to file and obtain a receipt for the Qualifying Prospectus qualifying the conversion of the Special Warrants in all Provinces of Canada, with the exception of Quebec. In the event that a final receipt for the Qualifying Prospectus is not obtained prior to the date that is 60 days following the Closing Date, each Special Warrant shall thereafter be exercisable into 1.1 Common Shares (in lieu of 1.0 Common Share).

On Behalf of the Board of Directors

MIDAS GOLD CORP.

Stephen Quin, President & CEO

About Midas Gold and the Golden Meadows Project

Midas Gold Corp., through its wholly owned subsidiaries Midas Gold Inc., and Idaho Gold Resources, LLC, is focused on the exploration and, if warranted, development of the Golden Meadows Project in the Stibnite‐Yellow Pine district of central Idaho. The principal gold deposits identified to date within the Golden Meadows Project are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors. Independent mineral resource estimates were reported for all three deposits in a news release dated April 20, 2011 and are detailed in a consolidated technical report entitled “NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project, Valley County, Idaho” dated June 6, 2011 (the “Technical Report“) is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Company’s properties; the timing of completion of the Offering and Over-Allotment Option; success of exploration activities; permitting time lines and requirements, requirements for additional capital, requirements for additional water rights and the potential effect of proposed notices of environmental conditions relating to mineral claims; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered if the Golden Meadows Project is developed.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies in 2012 will be consistent with the Company’s expectations; that the current exploration and other objectives concerning the Golden Meadows Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned exploration on the Golden Meadows Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information.

Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; changes in estimated mineral reserves or mineral resources; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks, including environmental matters under U.S. federal and Idaho rules and regulations; impact of environmental remediation requirements and the terms of existing and potential consent decrees on the Company’s planned exploration on the Golden Meadows Project; certainty of mineral title; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the Company’s dependence on one mineral project; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Company’s lack of operating revenues; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; currency fluctuations; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Company’s public disclosure record. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking 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. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.