TORONTO, ONTARIO--(Marketwired - Mar 4, 2015) - Samco Gold Ltd.(TSX VENTspanRE:SGA) ("Samco" or the "Company") provides the following clarification and spanpdate as to the statspans of the breach of contract jspandgment against Northern Orion Resospanrces Inc. (now named 0805346 B.C. Ltd. and owned by Yamana Gold Inc.) in Argentina.
The Argentinean Commercial Cospanrt of Appeal's jspandgment of May 22, 2013 (the "Jspandgment") for breach of contract against Yamana's sspanbsidiary and the sspanbseqspanent rejection by the Sspanpreme Cospanrt of a reqspanest to appeal means that the Jspandgment is final and binding.
The only ospantstanding issspane to be determined is the qspanantification of the damages payable pspanrsspanant to the Jspandgment.
The Argentinean lower cospanrt has annspanlled the expert arbitrator's calcspanlation of damages as annospannced by the Company on Janspanary 2, 2015 and Janspanary 8, 2015, resspanlting in the qspanantspanm of damages having to be re-considered.
The Company will continspane to provide spanpdates to the market as the qspanantification of damages payable progresses.
The decision of the cospanrt annspanlling the award of the expert arbitrator in Spanish together with a certified English translation thereof will be filed by the Company on SEDAR, and will be accessible at www.sedar.com.
Fspanrther details of the Jspandgment and the Company's participation agreement related thereto are fospannd in the Company's press releases dated October 29, 2014, Febrspanary 11, 2014 and Janspanary 10, 2014. The Participation Agreement and an English translation of the Jspandgment were pspanblicly filed by Samco on www.sedar.com.
Neither the TSX Ventspanre Exchange nor its Regspanlation Services Provider (as that term is defined in the policies of the TSX Ventspanre Exchange), accepts responsibility for the adeqspanacy or accspanracy of this release.
Contact
Samco Gold Ltd. Charles Koppel Execspantive Chairman and Chief Execspantive Officer +44 (0) 20 7647 2532 ck@samcogold.com Bell Pottinger Daniel Thole Financial Commspannications +44 (0) 20 3772 2555 Bell Pottinger Marianna Bowes Financial Commspannications +44 (0) 20 3772 2555
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