May 06, 2016Vancouver, British Columbia (May 6, 2016) - Sutter Gold Mining Inc. (SGM:TSX-V, SGMNF:OTCQX)('Sutter' or 'the Company')
The Company has been informed that its principal lender and shareholder, RMB Australia Holdings Limited ('RMBAH'), has engaged Primary Capital Inc. of Vancouver to assist in the potential sale of its debt and equity interests in Sutter. RMBAH owns approximately 47% of the Company's shares and as of December 31, 2015 has debt totaling approximately $46.5M, secured by the Company's assets. The Company has not been involved in any discussions to date, but is facilitating Primary Capital's engagement by providing access to information under confidentiality to approved, interested parties. Sutter will provide additional disclosure as required. There can be no assurances that any transaction will result from these matters and the Company will apprise shareholders of any developments.
Primary Capital (www.primarycapital.ca) is a privately owned exempt market dealer with offices in Toronto and Vancouver that finances and provides M&A advice with a focus on public companies that are active worldwide.
About Sutter
Sutter currently holds a number of precious metals properties in California, USA, including the permitted Lincoln underground mine near Sutter Creek, California, as well as a new, permitted processing facility, located near the entrance to the Lincoln Mine. In March 2014, the project was put on care and maintenance while certain mineral processing issues are being evaluated and the Company reduced costs due to capital constraints.
For further information, please contact:
Amanda Miller, Chief Financial Officer at 303 238 1438 ext. 223
Email: [email protected]
Website: www.suttergoldmining.com
Forward-Looking Statements
This news release contains 'forward-looking information' under Canadian securities law. Any information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words such as 'expect', 'anticipate', 'believe', 'plans', 'estimate', 'scheduling', 'projected' or variations thereof or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information. Forward-looking information relates to, among other things: the price of silver and gold; the accuracy of mineral resource and mineral reserve estimates; the ability of the Company to finance its operations and capital expenditures; future financial and operating performance including estimates of the Company's revenues and capital expenditures and estimated production.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks relating to: fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licenses; title to properties; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; operations and political conditions; environmental risks; and risks and hazards of mining operations. This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward-looking information about the future is inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
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.