LAS VEGAS, Oct. 26, 2006 (PRIMEZONE) -- U.S. Mining Engineer Michael Manke (BSc, MSc) was commissioned in 1993 to do field work and write a report estimating the potential for gold reserves on Sierra Gold's Pampana North concession.
Mr. Manke estimated the gold reserves to be approximately 520,000 ounces. At $500 per ounce, the property's potential value would be over $260 million. This report does not include the property's potential hard rock gold vein referred to by Hendrik Veldhuyzen's 43-101 report (2006) (see Oct. 2 press release). The hard rock area is situated in close proximity to the largest known hard rock gold vein in Sierra Leone.
No assurance can be given that past or similar results of gold mining will be indicative of future results. An ongoing program of basic exploration data collection and an aggressive investigation will be required to define the property's gold reserves.
Mr. Manke holds a BS and MS in Mining Engineering and a Minor in Geology from the South Dakota School of Mines and Technology. Since 1977, he has been actively involved in mineral exploration, mining, processing and consulting with numerous publicly listed mining companies.
Sierra Gold is engaged in the exploration and development of gold and diamond properties in West Africa. Pampana North is referred to as a "Property of Merit" in the 43101 report (2006). The company will build a successful mineral exploration company through geological experience and efficient management while conducting extensive research and development of high quality mineral exploration projects.
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