Laboratory Methodology and Quality Assurance
All samples summarised in this news release and shown in Appendix "A" were collected by personnel of the Company under the supervision of senior staff and a qualified person, as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Each collected sample weighs roughly 4 kg and employees transported these samples to the independently run sample preparation facility operated by Genalysis Laboratory Services Pty Ltd ("Genalysis"). The facility prepares samples for analysis (the samples are crushed and milled with 90% passing through 75 microns) and ships them to the Genalysis laboratory in Johannesburg, South Africa, where the gold is determined by a fire assay of a 50 gram sample.
The Genalysis laboratory is registered to ISO 9001:2001 and has received ISO/IEC 17025 accreditation. In addition to the internal QA-QC program used by this accredited laboratory, the Company also maintains an independent QA-QC program that includes the use of certified standard reference materials, blanks, as well as field duplicates. The quality control data associated with these results falls within acceptable ranges for all relevant parameters.
This news release has been prepared under the supervision of Mr. Charles Byron, Pr. Sci. Nat., MAusIMM, MGSAA who has verified the data disclosed, including sampling, analytical and test data underlying the technical information contained herein. Mr.Byron has more than 25 years relevant industry experience and is a BSc Honours graduate in Geology. He is the Chief Geologist of the Company and serves as the qualified person as defined by NI 43-101.
About Galane Gold
Galane Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana. Galane Gold is a public company and its shares are quoted on the TSX Venture Exchange and the Botswana Stock Exchange under the symbol GG. Galane Gold's management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programs. Galane Gold is committed to operating at the highest standards and is focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates.
Certain statements contained in this news release constitute "forward-looking statements". All statements other than statements of historical fact contained in this news release, including, without limitation, statements regarding exploration results and the Company's exploration and development plans and objectives and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.
Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to: the possibility that future exploration results with not be consistent with the Company's expectations; failure to establish estimated mineral resources or mineral reserves (the Company's mineral resource and mineral reserve figures are estimates and no assurance can be given that the indicated levels of gold will be produced); the Company's dependence on a single mineral project; gold price volatility; risks associated with the conduct of the Company's mining activities in Botswana; regulatory, consent or permitting delays; risks relating to the Company's exploration, development and mining activities being situated in a single country; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; mining tax regimes; risks arising from holding derivative instruments; the Company's need to replace reserves depleted by production; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; operating or technical difficulties in connection with mining or development activities; lack of infrastructure; employee relations, labour unrest or unavailability; health risks in Africa; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; development of the Company's exploration properties into commercially viable mines; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; and litigation risk.
Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.
Any potential quantity and grade disclosed herein is conceptual in nature. There has been insufficient exploration to define a mineral resource at Jim's Luck and it is uncertain if further exploration will result in a target being delineated as a mineral resource.
Jim's Luck Prospect Drilling Results
To view "Table 1: Jim's Luck: EBCC Zone Summary of Drill Hole Intersections" please visit the following link: http://media3.marketwire.com/docs/25ggtable1.pdf.
To view "Table 2: Jim's Luck: WBMC Zone Summary of Drill Hole Intersections" please visit the following link: http://media3.marketwire.com/docs/25ggtable2.pdf.
To view "Table 3: Jim's Luck: Western Parallel Zone Summary of Drill Hole Intersections" please visit the following link: http://media3.marketwire.com/docs/25ggtable3.pdf.
Neither the 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.
Galane Gold Ltd.
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