Sutter Clarification of Errors in Disclosure
posted on
Sep 11, 2015 10:40PM
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
Vancouver, British Columbia (September 11, 2015) - Sutter Gold Mining Inc. (SGM:TSX-V) (SGMNF:OTCQX) (“Sutter” or the “Company”) announces that as a result of a recent review by the British Columbia Securities Commission (the "BCSC"), the Company is issuing the following news release to clarify certain technical disclosures made by the Company in an August 2015 presentation.
On August 14, 2015, Sutter posted a presentation (the “Corporate Presentation”) to its website which contained disclosure that was subsequently identified by the BCSC as being non-compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). Prior to this posting, on July 23, 2015 the Company had filed an updated technical report dated July 2, 2015 (the “2015 Report”) for the Lincoln Project in Sutter Creek, California, which included an updated Preliminary Economic Assessment (the “PEA”) on the Lincoln-Comet resource. The August 2015 Corporate Presentation contained certain errors and disclosure issues which did not reflect data from the 2015 Report.
Specifically, the Corporate Presentation contained the following errors and disclosure issues, contrary to the requirements of NI 43-101:
As the disclosure described above was contrary to the disclosure requirements of NI 43-101, it should not be relied upon. The Company retracts the non-compliant or misleading representations contained within the Corporate Presentation and the Corporate Presentation has been removed from the Company’s website.
The disclosure in this news release has been reviewed by Paul Tietz (Mine Development Associates, Reno, Nevada), a Qualified Person as defined in NI 43-101. Mr. Tietz is a co-author of the 2015 Report. Neither Mr. Tietz nor any persons associated with Mine Development were consulted by the Company on the preparation of the Corporate Presentation and had not approved the technical information disclosed in the Corporate Presentation.
Sutter Gold
Sutter currently holds a number of precious metals properties in California, USA, including the permitted Lincoln underground mine near Sutter Creek, California, as well as a new, permitted processing facility, located near the entrance to the Lincoln Mine. In March 2014, the project was put on care and maintenance while certain mineral processing issues are being evaluated and the Company reduced costs due to capital constraints.
For further information, please contact:
Amanda Miller,
Chief Financial Officer
T:303 238 1438
amiller@suttergoldmining.com
www.suttergoldmining.com