True Gold Receives Approval to Construct Reservoir
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/25/13 -- True Gold Mining Inc. (TSX VENTURE: TGM) ("True Gold" or the "Company") is pleased to report that the Company has received authorization from the Burkina Faso Ministry of Mines, Quarries, and Energy and the country's Ministry of Environment for the construction of a fresh water reservoir ("barrage") and a holding pond.
Within the approved plan, the Company plans for the barrage to be constructed in two phases across a water drainage system about four kilometres from the Company's Karma Gold Project ("Karma Project") and a water holding pond at the proposed site. The first phase will involve construction of a small barrage with sufficient capacity to provide water for current exploration operations as well as for local community use. The second construction phase, which is subject to the results of the feasibility study on the Karma Project currently underway, is planned for increasing the water holding capacity of the barrage to meet the needs of a potential future mining facility at the Karma Project in addition to providing a potential year-round water source for the local community.
"We are pleased that approvals have been received for the construction of the barrage which will provide a direct social benefit to the local community and at the same time allows True Gold the opportunity to develop a piece of infrastructure that could be utilized for the potential future development of the Karma Project," said Dwayne Melrose, President and CEO, True Gold.
About True Gold
True Gold Mining Inc. is where gold comes to life. We are committed to growing a profitable gold exploration, development and production company by focusing on projects with low costs, low technical risks and solid economics. The Company's board, management and technical teams have proven track records in gold exploration, development, operations and production worldwide.
Additional information about the Company and its activities may be found on the Company's website at www.truegoldmining.com and under the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
Dwayne Melrose, President & CEO
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian and United States legislation. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties; permitting time lines and requirements, requirements for additional capital; and ongoing and future work. Forward-Looking Information can be identified by the use of words and phrases such as "plans", expects", "scheduled", "estimates", "intends", "anticipates", "potential", "believes", "contemplates" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will", "occur" or "be achieved". In making the forward-looking statements in this news release, the Company has applied several assumptions including, but not limited to, certain assumptions that the current exploration and other objectives concerning the Karma Project can be achieved and that the Company's other corporate activities will proceed as expected. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information.
Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms; changes in exploration programs based upon results of exploration; availability of third party contractors and equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration and development industry; environmental risks; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; governmental regulations and the ability to obtain necessary licences and permits; currency fluctuations; changes in environmental laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; the possibility that future exploration or development results or the results of the feasibility study, which is currently underway, will not be consistent with the Company's expectations; as well as those factors discussed in the Company's public disclosure record. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information.
Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Neither 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.
Contacts:
True Gold Mining Inc.
Vancouver Office
604-801-5020
info@truegoldmining.com
True Gold Mining Inc. - Investor Inquiries
Don Mosher
604-801-5020
dmosher@truegoldmining.com
True Gold Mining Inc. - Media Inquiries
Ian Noble
604-809-8750
inoble@truegoldmining.com
www.truegoldmining.com
