VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 21, 2012) -
Sutter Gold Mining Inc. (TSX VENTURE:SGM)(OTCQX:SGMNF) ("Sutter" or "the Company") At the request of IIROC, Sutter Gold Mining Inc. wishes to confirm that the Company's management is unaware of any undisclosed material changes in the Company's operations that would account for the recent increase in market activity.
The material in this news release has been reviewed by Matthew Collins, COO, a Qualified Person as defined by Canadian NI 43-101.
About Sutter Gold Mining -
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 appr. 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:
Dr. Leanne M. Baker, President, CEO & Director
Sutter Gold Mining Inc.
Forward-Looking Statements
This news release contains "forward-looking information----the Company's revenues and capital expenditures and estimated production.
Forward-looking information is subject ---- 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.
SGM USA RICH GOLD MINES Mark Anderson covers banking, finance, accounting, technology, telecom, venture capital, hospitality, tourism and restaurants for the Sacramento Business Journal.