TORONTO, June 26, 2007 (PRIME NEWSWIRE) -- Sierra Gold Corporation (Pink Sheets:SGCP) (Frankfurt:JYB) has just received results from its April 2007 bulk-sampling program tested by SGS Laboratories in Toronto, Canada. Sample concentrates were taken from the Pampana River assay with results for Platinum of .26g/ton and .156g/ton for Palladium.
Platinum together with Palladium are primary elements in auto catalysts that control vehicle exhaust emissions. These anti-pollution devices account for nearly 50 percent of the total demand for both metals.
The demand for jewellery accounts for another 25 percent. Platinum is highly valued for its beauty and purity while Palladium is highly valued as an alloy in the making of white gold.
The demand for both metals continues to grow. As of June 22, 2007 (second London fixing price), Platinum closed at US$1,301.00 and Palladium closed at US$375.00
Sierra Gold's geological team will continue with its bulk-sampling program and further investigate the possible source of these two highly prized precious metals.
Safe Harbor:
No assurance can be given that past or similar results of precious metal mining will be indicative of future results. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding of discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intent to" and similar conditional expressions are intended to identity forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks in the company's SEC reports and filings.