Swiss June gold exports fall to the lowest in more than two years
Gold prices hit a record high of $2,483.60 per ounce on Wednesday.
-40% Increase in Grade-
VAL-D’OR, QUEBEC–(Marketwire – March 26, 2012) – White Tiger Gold Ltd. (“White Tiger”) (TSX:WTG) announced today, the Company’s 100% owned Lamaque Project, has improved its grade over the past month, such that it is now 40% higher than that achieved in 2011. This improvement in grade is a result of better dilution control in the stopes.
With long-hole dyke stopes continuing to provide increased ore tonnages, the Company expects to see even higher production once an upgrade to a high-lift C4 conveyor in the crushing system is completed. This conveyor has constrained crushed and milled tonnages to 1200 tpd. This optimization has already begun and is scheduled for completion by mid-April, when it will permit increased production to more than 2000 tpd. In addition, the on-going diamond drilling program continues to produce positive results by extending and increasing mineable ore in the Flats, North Wall and Sigma West ore bodies. As a result of this performance, White Tiger intends to restart operations in Sigma West.
“These combined improvements, the addition of Sigma West, and increase in gold production put White Tiger Gold on track to meeting the Company’s objective of becoming cash flow positive in the second quarter of 2012,” said Daniel Major, President and CEO of White Tiger Gold Limited.
This press release was reviewed and approved by Dr. Ed van Hees, P.Geo., the Qualified Person for the Lamaque mine project who is independent of the company.
About White Tiger Gold
White Tiger Gold Ltd. is a TSX-listed mining and exploration company, focused on the development of mineral resources in Canada, the Russian Federation and Peru.
Caution Concerning Forward-Looking Information
This news release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws including with respect to the entering into of a definitive loan facility agreement with VTB and the completion of the business combination between White Tiger Gold and CMC. Words such as “may”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate” and similar terminology are used to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by the management of White Tiger Gold in light of their experience, current conditions and their expectations of future developments as well as other factors which they believe to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to: the conditional nature of the agreement between VTB and White Tiger Gold, including the completion of satisfactory due diligence by VTB on White Tiger Gold and CMC; the conditional nature of the business combination between White Tiger Gold and CMC, including the requirement for approval of the business combination by the shareholders of each of CMC and White Tiger Gold, the TSX, the TSX Venture Exchange, the Ontario Superior Court of Justice as well as any required approval under the Investment Canada Act; any exercise by White Tiger Gold of its rights of termination under the arrangement agreement between White Tiger Gold and CMC (together, the “Companies“) dated as of March 11, 2011, as amended June 16, 2011; changes in equity and debt markets; fluctuations in gold and other commodity prices; as well as other risks and uncertainties which are more fully described in White Tiger Gold’s Annual Information Form dated March 30, 2011 and annual and quarterly Management’s Discussion and Analysis and in other filings made by White Tiger Gold with Canadian securities regulatory authorities and available at www.sedar.com.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable laws, White Tiger Gold disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although White Tiger Gold believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
