Last checked at 7 Nov 2012 11:13
7 November 2012
SolGold plc
("SolGold" or the "Company")
SolGold 2012 Annual Report
The Board of SolGold Plc (SolGold or the Company) is pleased to advise all shareholders and interested investors of the release of the Company's Annual Report. A pre-production copy of the report is available via the Company's website ( www.solgold.com.au ) or by clicking the link below:
http://www.rns-pdf.londonstockexchange.com/rns/5459Q_1-2012-11-7.pdf
The Annual Report has been dispatched for production and printing, and will be distributed to shareholders in the next few weeks.
By order of the Board
Karl Schlobohm
Company Secretary
Contact details:
Mr Karl Schlobohm (Company Secretary) SolGold Plc kschlobohm@solgold.com.au
| Tel: +61 (0)7 3303 0660 |
Mr Ewan Leggat/Miss Katy Birkin S. P. Angel Corporate Finance LLP (Broker) ewan.leggat@spangel.co.uk/katy.birkin@spangel.co.uk
| Tel: +44 (0)203 463 2260 |
Mr Stephen Weir RFC Ambrian Limited (Nominated Advisor) stephen.weir@rfcambrian.com
| Tel: +61 (0)2 9250 0048 |
Mr Dominic Barretto Tel: +44 (0)7768 537 739
Yellow Jersey PR (PR & IR)
dominic@yellowjerseypr.com
NOTES TO EDITORS
SolGold's exploration projects are located in northern Ecuador, Australia, and the Solomon Islands. In Australia, they comprise the Rannes, Mt Perry, Cracow West and Normanby Projects, all in southeast Queensland. In the Solomon Islands they comprise the Fauro Project (located on Fauro Island), and the Guadalcanal Joint Venture with Newmont Mining Corporation, and in Ecuador a JV with Cornerstone Capital Resources on the Cascabel gold-copper project.
In July 2012, SolGold and Cornerstone Capital Resources Inc. announced that they had signed a Definitive Option Agreement whereby SolGold may acquire up to 85% of Cornerstone's 100% owned 5,000 hectare Cascabel gold-copper-silver property in northern Ecuador.
The Cascabel project is located approximately 120 km north of Ecuador's capital, Quito, 20 km south of the Colombian border, and 75 km inland from the coastal city of San Lorenzo. The gold-copper porphyry project is located within the Andean western cordillera, host to numerous Tier 1 world class copper-gold deposits through Chile, Peru, Ecuador and Colombia.
At the Rannes project SolGold has announced Indicated and Inferred resources of 18.7 million tonnes at 0.9 g/t gold equivalent (gold + silver) for 550,146 ounces of gold equivalent (296,657 ounces of gold and 10,137,736 ounces of silver; see announcement dated 23 May 2012 for details of the resource statement and gold equivalent ratios). The 2012 exploration program, including planned drilling to define new ore positions and grow the resource, is underway.
Exploration continues at Mt. Perry, Normanby and Cracow West.
In the Solomon Islands, the 2012 exploration program on the Fauro project has been delayed while a JV partner is sought to pursue drilling of gold-copper targets defined in the 2011 exploration program. The 2012 Guadalcanal Joint Venture with NVL Solomon Islands Limited (a subsidiary of NYSE-listed Newmont Mining Corporation) is now seeking expressions of interest for possible divestment.
SolGold's strategy is to be an integrated gold and copper discoverer, developer and miner.
SolGold's Board includes accomplished professionals with strong track records in the areas of exploration, mine development, investment, finance and law. Board and Management have significantly vested interests in the Company, holding approximately 17.5% of its issued share capital.
SolGold is based in Brisbane, Queensland, Australia. The Company listed on London's Alternative Investment Market in 2006, under the AIM Code 'SOLG' and currently has a total of 424,242,966 fully-paid ordinary shares, 10,700 Convertible Redeemable Preference Shares, 9,472,000 options exercisable at 50p, 1,250,000 options exercisable at 28p and 1,250,000 options exercisable at 14p on issue. Further details concerning the Company's key projects and personnel can be found at www.solgold.com.au.