VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/20/13 -- Barisan Gold Corporation (TSX VENTURE: BG) wishes to inform shareholders that its majority-owned Indonesian subsidiary, PT Gayo Mineral Resources ("Gayo"), has received an extension to its Exploration Izin Usaha Pertambangan ("IUP"). The IUP has been extended until March 5, 2015. This, combined with the two IUPs extended in December 2012 (see press release dated December 24, 2012), completes the IUP extension process for all our exploration licenses in Indonesia.
The Gayo IUP is 80% owned by Barisan Gold and is solely operated by the Company. The IUP contains the Upper Tengkereng, Lower Tengkereng, Upper Ise-Ise and Sekeulen gold-copper porphyry prospects. Gayo continues to work with local government authorities seeking forestry borrow-use permits, which would allow it to resume drilling at Upper Tengkereng and other gold-copper porphyries.
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About Barisan Gold Corporation
Barisan Gold (TSX VENTURE: BG) is a Canadian-based minerals exploration company listed on the TSX Venture Exchange under the symbol "BG". The Company is engaged in the exploration, acquisition and development of mineral properties in Indonesia. Barisan Gold currently owns and operates three gold and gold-copper properties in Indonesia's Aceh Province on the northern tip of Sumatra Island, namely the Barisan gold-copper porphyry belt, the Abong epithermal gold project and the Takengon gold-copper porphyry prospect. Barisan Gold currently has 40,706,186 shares outstanding.
Caution Regarding Forward Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. These statements reflect management's current assumptions and expectations regarding future work programs (such as those planned for the Collins epithermal gold prospect), results, performance or events as of the date hereof and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements.
Those risks include the interpretation of drill results and the estimation of mineral resources and reserves; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, permitting and licensing risks; and general market and mining exploration risks.
Forward looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
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.
Barisan Gold Corporation
+1 604 684 2183
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