In particular, benefits include:
For Sutter, improved financial standing, with significantly
improved liquidity and access to capital to properly capitalize
completion of development of the Lincoln mine and
mill to achieve commercial production.
For Tyhee, enabling the execution of its strategy of building
its production profile through additional acquisitions
with near-term production potential;
For Tyhee and Sutter, being transformed into a developing precious metals production company with gold production planned from Lincoln;
or Tyhee and Sutter,
significantly enhanced development and exploration upside across
a diverse portfolio of precious metals properties, including
the Keystone deposit in California as well as
the large undeveloped gold resources (Feasibility Study --
August 2012) at the Yellowknife Gold Project, NWT;
For Tyhee and Sutter, utilizing Tyhee's highly experienced underground mining team that will be key to successful operations at Lincoln; and
For Sutter, access to an expanded management team that includes complementary experience in exploration, development, operations, and financing.
Mark T. Brown, Sutter's Chairman of the Board, said,
"Despite the issues we have had with an orderly development and
the difficulties of raising funding given Sutter's financial
position, we have always had confidence in
the Lincoln project.
Our number one priority over the last many months has been to
secure the additional investment needed
to achieve commercial production.
We are supportive of RMB and Tyhee's transaction, which
will provide both the funding and technical/operational
expertise to make Lincoln a success,
aligning all parties' interests.
We look forward to working with Tyhee
to meet our common objectives."
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.
For further information, please contact:
Amanda Miller,
Chief Financial Officer
T:303 238 1438 ext. 223
amiller@suttergoldmining.com
www.suttergoldmining.com
Greg Taylor
GT Investor Relations Inc.
O: 905 337-7673 C: 416 605-5120
gtaylor@tyhee.com
www.tyhee.com
Brian Briggs
President -- Tyhee Gold
T: 604 681-2877
info@tyhee.com
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=104015030
God Bless
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