TORONTO, Sept. 22, 2009 (GLOBE NEWSWIRE) -- Sierra Gold Corporation (Pink Sheets:SGCP) announced today that it has signed a Carbon Credit Funding contract with Green Giant Venture Fund. It is estimated that the process of completing the various components to initiate funding will take approximately 6-8 weeks. The credits developed will then be capable for future sale.

A number of world organizations have established programs to enable companies to accumulate carbon credits that can be exchanged for money. Carbon Credits are allotted to companies that support the environment in such ways as committing designated forest land to non-logging operations; re-foresting previously logged or mined lands, and growing alternative bio-fuel crops. The funds received from the Carbon Credit programs will be utilized by the company to fund further development of its mining and agricultural operations in Sierra Leone.

Doug Evans, CEO of Sierra Gold, commented: "We are excited by the potential of the carbon credit program. The funds generated will allow us to move our mining and agricultural projects forward much faster. At the same time, we are making a positive impact on the environment and creating jobs and a better quality of life for the Sierra Leoneans."

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. Sierra Leone's neighbors, Ghana and Mali, are the second and third largest gold producers in all of Africa.

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 identify 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.