The Company further retracted its technical presentation on the La Estrella property that could be misinterpreted as a potential exploration target which was unsupported since the volume and grade disclosed in the earlier presentation were conceptual in nature only. The Company failed to provide the necessary cautionary language needed in the earlier disclosure. The current presentation and website have removed such disclosure completely.
The Company also corrected some potentially misleading disclosure in our earlier fact sheets and presentations related to the Colpayoc property such as "minimum gold resource", "+313,000 oz Gold" and "the resource can be rapidly increased" by retracting such disclosures and updating our website with the latest fact sheet and corporate presentation. The Company's estimated resource estimates are in the "inferred" category and due to the low level of confidence, such resource number can be increased or decreased.
Finally, the Company did not disclose who the qualified person was approving the technical information on its website and certain presentations. The Company's former Chief Executive Officer was the qualified person reviewing the previously disclosed technical information. The Company has since corrected this deficiency by updating its website as well as its fact sheet and presentation to clearly identify that our newly appointed Chief Executive Office is the qualified person who has approved, prepared or supervised the preparation of the revised technical information.
About Estrella Gold Corporation (TSX VENTURE: EST) - Exploration is risky and Estrella is seeking to increase the chances of success as a "Prospect Generator" focused on gold exploration in Latin America. Estrella identifies and acquires new mineral properties, and then conducts initial, low-cost exploration to define a potential new deposit. Once defined, Estrella forms joint ventures with other companies that will provide funding and reduce Estrella's risk and expenditures. The Prospect Generator business model allows Estrella to aggressively seek a major discovery. Estrella has twenty-three (23) active exploration properties in Peru, with five (5) held in venture agreements. The Company has 31.6 million shares issued and outstanding, and is listed on the TSX Venture Exchange (TSX VENTURE: EST).
Mr. John R. Wilson, BSc. MS., is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has prepared, reviewed and verified the technical information contained in this news release. Further information is available at Estrella Gold's website: www.estrellagold.com.
STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
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.
Estrella Gold Corporation
John R. Wilson
President and CEO
(888) 889-4874 (FAX)
Most Popular Stories
- Ex-Mobster to Bulger: Just Say Sorry
- Google Stock Split Ahead
- Guns Are Hot in California
- OSH Selling Most of Its Stores to Lowe's
- El Paso Symposium Offers Help to Startups
- MillerCoors Taps New Hispanic Ad Agency
- First Person Cured of AIDS Virus Wants to Help Others
- Small Businesses Hiring, but Worry About Expense
- Honda Says Sorry About the Lack of Electric Fits
- LULAC Convention Starts With Focus on LGBT Youth