********************** Sierra Gold Corporation is engaged in the business of mining and exploration of gold properties in Sierra Leone, West Africa. Sierra Gold Corporation through its subsidiary has secured 33 exploration mining and 7 dredging permits in Sierra Leone. In addition the company is developing a farming and a green/carbon project to enhance local employment opportunities in its local areas of interest.
**************************
A. Plan of Operation The corporation conducted dredging operations in the Tonkalill,i Bomballili, 60 and Zimmi Districts in 2012 and currently has 5 of its dredges operating in those districts. As well, the company continues to support local artisanal miners and buy their production in order to extract native gold thereby partially offsetting operational costs while at the same time locating potential sites for development. Gold and precious gems recovered from operations are being sold through intermediaries or exported for sale as market conditions dictate. Proceeds of sales are used for further developmental and expansion programs. Further financing, specifically for the ongoing equipment acquisition and company expansion may be required and funds will be acquired through sales of company equity and/or loans and gold loans. As of March 31, 2012 the company had completed its harvesting of all crops and was commencing the land preparation for the current seasons planting of rice, sorghum, peanuts and corn. The cropping plan for 2013 is to use seeds from the current harvest as required for planting and sell the balance to offset expansion costs. The companys test planting of a variety of garden vegetables to determine the viability of future production for both local sales and export is completed and for the most part was successful. The program will continue in 2013 with test marketing to local restaurants and other business opportunities.