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Tuesday, 04/15/2014 6:05:26 PM

Tuesday, April 15, 2014 6:05:26 PM

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Sutter Gold Mining Inc. Announces Appointment of New CFO
Date : 04/15/2014 @ 5:00PM
Source : Marketwired Canada
Stock : Sutter Gold Mining Inc. (SGM)
Quote : 0.105 -0.015 (-12.50%) @ 3:32PM
Sutter Gold Mining Inc. Announces Appointment of New CFO
Print
Alert
Sutter Gold Mining Inc. (TSX VENTURE:SGM)(OTCQX:SGMNF) ("Sutter" or the
"Company") announces that the Board of Directors has appointed a new Chief
Financial Officer in an effort to further reduce ongoing general and
administrative costs while maintaining financial and reporting standards.


Appointment of CFO

The Board is pleased to announce that Mrs. Amanda Miller, Controller of Sutter
Gold Mining Inc. since October 2008, has been appointed Chief Financial Officer
("CFO") and Corporate Secretary. Mrs. Miller began her career with Moss Adams
LLP, CPAs, and prior to joining Sutter was Financial Reporting Manager with US
Gold Ltd. She has a BS in Accounting from the University of Wyoming.


The Board of Directors wishes to sincerely thank Robert Hutmacher, who served as
CFO and Corporate Secretary since October 2008, for his efforts during his
tenure which included detailed oversight of the financial aspects of the Sutter
Gold Mine development, and several debt and equity financings. Mr. Hutmacher's
duties as CFO were completed with professionalism, efficiency and were well
thought out.


Mark T Brown, CA, Chairman of Sutter Gold, noted that, "It was a pleasure to
work with Bob for these many years and we were very fortunate to have a CFO of
his caliber guiding the financial aspects of Sutter Gold. The Board has a high
level of confidence that Amanda will carry on the high standards in place as
Sutter Gold continues to work towards becoming a gold producer."


Settlement Agreement

In accordance with his employment contract, Mr. Hutmacher is entitled to a
one-time severance payment in the amount of USD $400,000 (the "Debt"). The
Company and Mr. Hutmacher have agreed that the Debt will be payable in: (i) USD
$83,334 payable in cash immediately; (ii) USD $316,666 in common shares of the
Company at a deemed price of CDN $0.20 per share which equates to a total of
1,746,641 shares, based on the noon exchange spot rate of US Dollars to Canadian
dollars at the Bank of Canada on April 2, 2014.


The settlement is subject to the approval of the TSX Venture Exchange.

About Sutter

Sutter has two projects: the Lincoln Project located in Amador County, on the
California Mother Lode Gold Belt, and the Santa Theresa Project located in the
Northern Baja region of Mexico. Currently, the Company is completing the mill
construction and underground development of the Lincoln Mine Project, beginning
with the shallow portion of the Lincoln-Comet ore zone. The Lincoln-Comet and
Keystone zones have a NI 43-101 compliant Indicated Resource estimate (completed
in February 2008). Sutter currently controls approximately 3.6 miles of the
Mother Lode of Amador County, with 90% of the property still unexplored.


In Mexico, Sutter holds the rights to the geologically similar, high-grade El
Alamo district of northern Baja.


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.


FOR FURTHER INFORMATION PLEASE CONTACT:
Sutter Gold Mining Inc.
Amanda Miller
Chief Financial Officer
303 238 1438 ext. 223
amiller@suttergoldmining.com
www.suttergoldmining.com