TORONTO, July 8, 2008 (PRIME NEWSWIRE) -- Sierra Gold Corp. (Pink Sheets:SGCP) today announced updates on their various projects.
The process of acquiring a mining license for the Pampana River property has begun and the company should be in receipt of the issued license by the end of July. The processing equipment that has been acquired for this project will be shipped in July for the commencement of operations in September.
The equipment ordered for the newly licensed area on the Sewa River is scheduled for delivery in July and operations are expected to begin in August. Further, Sierra Gold has entered into discussion with a South African company for the purchase of an 8" dredge. An acquisition of this nature would significantly enhance the recovery process of mineral bearing gravels and the equipment would be suitable for use in either the Sewa River or Pampana River projects.
Work on the two areas of hard rock interest is ongoing and material for processing is being accumulated. The company geologist is of the opinion that sufficient material from both sites will be available to commence processing in August.
The Company's Joint Ventures in the various chiefdoms are continuing during the rainy seasons and the Company anticipates entering into other similar Joint Ventures as opportunities arise.
Sierra Gold will continue to update its Web site with further current pictures of JV gold and local activities. To view the pictures, please visit www.sierragoldcorp.com
About Sierra Gold Corp.
Sierra Gold is engaged in the exploration and development of gold properties in West Africa. The greenstone belt of West Africa has had a long history of gold mining and prospecting. The region has been one of the fastest gold producing areas worldwide. Sierra Leone's neighbors, Guinea and Mali, are some of the largest gold producers in all of Africa.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sarissa Resources, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.