TORONTO, Oct. 6, 2008 (GLOBE NEWSWIRE) -- Sierra Gold Corporation (Pink Sheets:SGCP) announced today that the two new 10 ton, state-of-the-art, gold processing plants arrived in Sierra Leone last week. These plants will enable the company to process up to 20 tons per hour and boast a 95-98 percent recovery rate. This technology offers an environmentally friendly process with no chemicals and reduced water use. Given their portability, these units can be moved easily to locations deemed appropriate for greater gold recovery. Later this fall the company will now have the ability to speed up production by a factor of 10 times or more. In contrast to the 1-2 kilos of gold that Sierra Gold produced per month using local methods, the new gold plants will have the capacity to produce 20 kilos per month. Our figures are based on 8 hours per day with a past recovery rate of 4.5 grams of gold per ton. The plans are to operate 300 days per year.
In the area of communication, we launched a new website recently as a first step to keep our shareholders better informed. The next step is the appointment of John Semachko Jr. as Vice President of Sierra Gold Corporation. Mr. Semachko's primary role will be in investor relations. He brings over 25 years of business ownership and management experience with a track record of success.
Doug Evans, CEO of Sierra Gold, commented: "The company is looking forward to moving into the next stage of development with the addition of new state-of-the-art equipment. This is a giant step forward from our present local methods of processing gold. We are also excited to bring on a new highly qualified member, Mr. Semachko, to our team. Our goal is continue to improve the investors' ability to access updated information from the company."
Sierra Gold is engaged in the exploration and development of gold and diamond properties in West Africa. The Birimian 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.
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.