Vancouver, British Columbia, June 29, 2009. Sutter Gold Mining Inc. ("Sutter" or "SGM" or the "Company") (TSX Venture: SGM) is pleased to update the current status and short term initiatives that are directed towards determining the Lincoln Project development costs, schedule and future production decision.
Technical Studies and Initiatives that have been Completed:
Technical Studies and Initiatives in Process:
Clayr Alexander, President and CEO stated, "With the completion of initial test work and conceptual engineering we have now developed a base plan from which we can begin to optimize our process and development costs. Significant work has been completed thus far, yet continued diligence must be focused on the remaining tasks in order to produce the information necessary to make a production decision in the 4th quarter. We look forward to continually updating our shareholders on the progress and development of the Lincoln Project in the near future."
Quality Assurance and Quality Control:
This press release has been reviewed and approved for dissemination by Sutter Gold Mining's senior management including Chief Executive Officer, Clayr Alexander, P.Eng., Mark Payne, P.Geo., Consulting Geologist and David Cochrane, P.Geo., C.E.G., Golder Associates, all being Qualified Persons under Canadian Securities guidelines.
About Sutter Gold Mining Inc.
Sutter is a junior gold exploration and development company pursuing the goal of becoming an emerging producer through the development of the Lincoln-Comet zone at the Sutter Gold Project located on the California Mother Lode in Amador County, California. Sutter currently controls over three miles of the Mother Lode where 90% of the property has not been explored despite the definition of nearly 700,000 ounces of indicated and inferred resource. The current resource estimate for the Sutter Gold Project includes Indicated Resources of 673,600 tons grading 0.33 oz/ton containing 223,000 ounces gold and Inferred Resources of 2,377,900 tons grading 0.19 oz/ton containing 458,900 ounces. In Mexico, SGM hold the rights to the geologically similar, high-grade El Alamo district located in northern Baja were historic mining to the water table produced mined grades of 30 to 60 g/t of gold. Initial exploration with its joint-venture partner, Premier Gold has demonstrated the extension of these high-grade veins.
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation 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 statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, 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 statements 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 statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD OF DIRECTORS:
President, CEO & Director
Sutter Gold Mining Inc.
For further information please contact Robert Hutmacher, Chief Financial Officer at 303 238 1438 ext. 22 or email@example.com or visit our website at www.suttergoldmining.com.
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