Mr. Jorge Benavides, Chairman of the Board of Directors: Mr. Benavides has over 30 years experience in the mining industry and is currently President, CEO and Director of Zincore Metals Inc, a Peruvian-focused base metal exploration and mine development company. Prior to joining Zincore, Jorge was an independent consultant and Senior Advisor to the Chairman of Hochschild Mining PLC. He was with Hochschild from 2001 through 2008, guiding the Company's exploration programs and was a key member of the senior executive team that oversaw Hochschild 's rapid growth into one of the world's premier silver mining companies. Prior to Hochschild, Jorge spent eight years working for Phelps Dodge Mining Company in South America, including serving as Exploration Manager for the Andean Region. Jorge is currently on the Board of Directors of ECI Exploration and Mining Inc. and Pembrook Mining Corp., both private Canadian exploration companies. Mr. Benavides holds a M.Sc. in Ore Deposits and Exploration from Stanford University and a B.Sc. in Geological Engineering from the Colorado School of Mines.
About Sienna Gold: Sienna Gold Inc. (SGP: TSX.V; SGP: BVL) is a Canadian-based exploration and development company with assets in northern Peru. Igor, the Company's 100%-owned flagship gold and silver project, is located in a prolific gold district in eastern La Libertad Department. Recent exploration on the Callanquitas Structure has discovered a significant gold and silver resource, open along strike and at depth. Parallel structures are unexplored and, coupled with the Domo and Tesoros targets, highlight the exploration potential at Igor. The initial Inferred Resource for the Callanquitas Structure is 7.2 million tonnes grading 1.9 grams per tonne (gpt) gold and 71.8 gpt silver; this equates to 3.16 gold equivalent (Au Eq(i)) gpt using a cut-off grade of 1.5 Au Eq(i) gpt. This is approximately 448,500 ounces of gold and 16,600,000 ounces of silver, or 730,500 Au Eq(i) ounces. The relevant NI 43-101 technical report was filed on December 17, 2012 and can be seen on the Company's website (www.siennagold.com) or on SEDAR (www.sedar.com). Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves.
Sienna Gold plans to drill the Callanquitas Structure during 2013, to expand the existing resource. The Company will also begin drilling on other targets at Igor in order to identify new gold-silver zones. The Company intends to update its mineral resource estimate in the second half of 2013 as a prelude to an initial Preliminary Economic Assessment (PEA) in 2014.
All scientific and technical information in this press release had been reviewed and approved by Dr. Warren Pratt (CGeol), a Director of the Company, who is a "Qualified Person" under Canadian National Instrument (NI) 43-101.
On behalf of the Board of Directors
Brian J. Maher, President and Chief Executive Officer
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the Igor project and other future plans, objectives or expectations of Sienna Gold Inc. (the "Company") are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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.
Sienna Gold Inc.
Vice President - Corporate Development
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