13 Aug 2010 17:42
13 August 2010 for Immediate Release AIM:CLF/TSX: CFG
Cluff Gold plc
("Cluff Gold" or the "Company")
TECHNICAL REPORT ON BAOMAHUN FILED ON SEDAR
Cluff Gold, the dual AIM/TSX-listed West African-focused gold mining company, announces that following the news release on 30th June 2010, a National Instrument 43-101 technical report entitled "Technical Review of Baomahun Gold Exploration Project, Sierra Leone" dated 12th August (the "Technical Report") was filed on SEDAR (www.sedar.com) yesterday. It is also available on the Company's website at www.cluffgold.com.
On 4 June 2010, the Company had announced that the Measured and Indicated mineral resources at Baomahun had increased to 1.42 million ounces of gold (15.1Mt at 2.92g/t), following the completion of additional core drilling.
The Technical Report includes the results of the previously announced preliminary assessment (the "Preliminary Assessment"), which was completed in June 2010 by the Company, with assistance from SRK Consulting (SA) Pty Ltd (SRK SA), Senet Engineering (SENET) and AMEC.
Qualified Person
The Preliminary Assessment was prepared under the supervision of the Company's Technical Director, Douglas Chikohora, a "qualified person", as defined in National Instrument 43-101. Mr Chikohora has reviewed and approved the contents of this press release.
About Cluff Gold
Cluff Gold is a gold developer-producer with assets in West Africa. The Company generates cash flow from its two producing assets, Kalsaka in Burkina Faso and Angovia in Côte d'Ivoire, which together produce a total of 100,000 ounces of gold per annum. The Company strives to become a mid-tier producer through the development of its wholly-owned Baomahun project in Sierra Leone, which is expected to contribute an additional 157,000 ounces of gold per annum, with significant exploration potential along strike. With its experience of bringing new mines into production, the Company aims to further increase its production profile with its highly prospective exploration work at all three projects.
For further information, please contact:
| Cluff Gold plc J.G. Cluff - Chairman and Chief Executive Carrie Lun - Investor Relations Manager Tel: +44 (0) 20 7340 9790 | Evolution Securities Limited Rob Collins Tim Redfern Tel: +44 (0) 20 7071 4300 |
| Pelham Bell Pottinger
Investor Relations (Global) Charles Vivian Klara Kaczmarek Tel: +44 (0) 20 7861 3232 | Farm Street Communications Ltd
Press Relations (U.K.) Simon Robinson +44 (0) 7593 340 107 simon.robinson@farmstreetmedia.com |
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
This News Release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, the positioning of the Company for future success, statements regarding potential future production at Angovia, Kalsaka and Baomhaun, exploration and drilling results at Baomahun, and future capital plans and objectives of Cluff Gold, are forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Cluff Gold's expectations include, among others, risks related to international operations, the actual results of current exploration and drilling activities, changes in project parameters as plans continue to be refined as well as future price of gold. Although Cluff Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cluff Gold does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
Douglas D Chikohora has reviewed and approved the information contained within this announcement. Mr Chikohora (MSc., MIMMM., CEng) is the Technical Director of the Company.
A technical report prepared by SRK Consulting (UK) Limited entitled "Technical Review of the Baomahun Gold Exploration Project, Sierra Leone", was filed on 12 August 2010 at www.sedar.com.
Cautionary Statement:
The Preliminary Assessment is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the conclusions reached in the Preliminary Assessment will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.