TORONTO, Nov. 29, 2011 (GLOBE NEWSWIRE) -- Sierra Gold Corp. (Pink Sheets:SGCP) announces new concession acquisition.
Sierra Gold Corporation is pleased to announce it has reached an agreement with local land owners, village chief, elders and the Paramount Chief to acquire a further 4 concessions on the Pampana River. Surface rents have been paid and concession demarcation and licensing is underway.
The concessions selected are far to the north/east on the Pampana River toward the Sula Mountains, which are considered to be the major host body for gold in the Pampana River. Historical records as stated by village elders indicate that while exploration has occurred in the past in this area, river dredging has never taken place. The company is excited about its prospects in the upcoming mining season.
Further, Sierra Gold Corporation announces that shoreline dredging commenced today on one of the previously announced Pampana concessions.
Safe Harbor: 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.