The Board of Directors of Sutter Gold Mining Inc. (TSX VENTURE:
SGM) ("Sutter" or the "Company") is pleased to announce that Dr.
Leanne M. Baker will join the Company as President and Chief
Executive Officer, effective November 1, 2011.
Dr. Baker, 59, has extensive experience in the mining /
financial sectors and holds M.S. and Ph.D. degrees in mineral
economics from Colorado School of Mines. She has been an
independent consultant in the Mining and Financial Services
Industry since 2002 and Managing Director of Investor Resources LLC
since 2006. Prior to that, Dr. Baker was an Equity Research Analyst
and Managing Director of Salomon Smith Barney / Citigroup in New
York and San Francisco. Her more than 20 years of Wall Street
research and banking experience included managing the commodity
research team at Philipp Brothers, Inc. in the 1980s and helping to
build a metals and mining equity research/banking franchise at
Salomon Brothers Inc in the 1990s.
In welcoming the appointment, Sutter Gold Board member Rick
Winters stated, "We believe we have found in Dr. Baker, a Chief
Executive Officer who brings a wealth of combined mining sector
experience, analytical and financial skills, and strategic
abilities while complementing the strong technical and
administrative team Sutter has put in place for the development of
the Lincoln Project. Her ability to fuel the Company's growth
through the successful management of Sutter's assets should make
current day California mining history."
Dr. Baker stated, "I am honored to join a company that is on its
way toward profitable gold production in California's historic
Mother Lode. I trust that my skill set will build on a strong board
and management team that brings production, exploration, permitting
and financial strengths to the Lincoln project. As a California
resident, I look forward to my involvement with Sutter Gold Mining,
a company whose name and gold mining roots are synonymous with the
State's dynamic history."
Dr. Baker serves as Director of Agnico-Eagle Mines Ltd., Kimber
Resources, Inc., Reunion Gold Corporation and US Gold Corporation,
all public companies, as well as ETF Securities Ltd., a private
company.
About Sutter
Sutter is a growth-oriented exploration and development company
preparing to become a North American gold producer. The Company has
two projects: the Lincoln Project located in Amador County,
California and the Santa Theresa Project located in the Northern
Baja region of Mexico. Currently, the Company's primary focus is
the evaluation and development of the Lincoln Project, beginning
with the shallow portion of the Lincoln-Comet ore zone of the
Lincoln Project, located on the California Mother Lode Gold Belt.
The Lincoln-Comet and Keystone zones have a NI 43-101 compliant
Indicated Resource estimate (completed in February 2008) of 612,400
tonnes (673,600 tons) grading 11.3 g/t Au (0.33 oz/ton) containing
223,000 ounces of gold and Inferred Resources of 2,161,700 tonnes
(2,377,900 tons) grading 6.6 g/t Au (0.19 oz/ton) containing
458,900 ounces of gold.
Sutter currently controls approximately 3.6 miles of the Mother
Lode of Amador County, with 90% of the property still unexplored.
Potential exists both at depth and along strike of the known
mineralized zones on both the footwall and hanging wall. The
120-mile long Mother Lode Gold Belt produced over 13 million ounces
of gold historically with 7.9 million ounces originating from the
10-mile long segment between Jackson and Plymouth where the Lincoln
Project is strategically located. Properties under the Company's
control include seven historic mines with significant historic gold
production totaling over 3.5 million ounces or 27% of the historic
gold production from the Mother Lode. Historic mines located north
and south of the Lincoln Project in the Jackson to Plymouth segment
of the Mother Lode success fully mined gold to depths of 4,500 and
6,300 feet, respectively.
In Mexico, Sutter holds the rights to the geologically similar,
high-grade El Alamo district of northern Baja, where historic
mining to the water table produced mined grades of 30 to 60 g/t
gold. Initial exploration with its joint-venture partner, Premier
Gold, has demonstrated the extension of high-grade veins.
ON BEHALF OF THE BOARD OF DIRECTORS:
James Crombie, President, CEO & Director
Sutter Gold Mining Inc.
Forward-Looking Statements
This news release contains "forward-looking information" under
Canadian securities law. Any information that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words such as "expect",
"anticipate", "believe", "plans", "estimate", "scheduling",
"projected" or variations thereof or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved, or the negative of any of these terms
and similar expressions) are not statements of historical fact and
may be forward-looking information. Forward-looking information
relates to, among other things: the price of silver and gold; the
accuracy of mineral resource and mineral reserve estimates; the
ability of the Company to finance its operations and capital
expenditures; future financial and operating performance including
estimates of the Company's revenues and capital expenditures and
estimated production.
Forward-looking information is subject to a variety of known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ from those reflected in the
forward-looking information, including, without limitation, risks
relating to: fluctuating commodity prices; calculation of
resources, reserves and mineralization and precious and base metal
recovery; interpretations and assumptions of mineral resource and
mineral reserve estimates; exploration and development programs;
feasibility and engineering reports; permits and licenses; title to
properties; recent market events and conditions; economic factors
affecting the Company; timing, estimated amount, capital and
operating expenditures and economic returns of future production;
operations and political conditions; environmental risks; and risks
and hazards of mining operations. This list is not exhaustive of
the factors that may affect any of the Company's forward-looking
information. Forward-looking information about the future is
inherently uncertain, and actual achievements of the Company or
other future events or conditions may differ materially from those
reflected in the forward-looking information due to a variety of
risks, uncertainties and other factors. Although the Company 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, described or intended.
Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company's
forward-looking information is based on the assumptions, beliefs,
expectations and opinions of management as of the date of this
press release, and other than as required by applicable securities
laws, the Company does not assume any obligation to update
forward-looking statements and information if circumstances or
management's assumptions, beliefs, expectations or opinions should
change, or changes in any other events affecting such statements or
information. For the reasons set forth above, investors should not
place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Sutter Gold Mining Inc. Robert Hutmacher Chief
Financial Officer 303 238 1438 ext. 22
bhutmacher@suttergoldmining.com www.suttergoldmining.com
Sutter Gold Mining (TSXV:SGM)
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