FREETOWN, Sierra Leone, Feb. 12, 2008 (PRIME NEWSWIRE) -- Sierra Gold Corporation, (Pink Sheets:SGCP) announced today that after four and a half years of research and exploration, the Company has extracted and sold the first-ever kilogram of alluvial gold from its holdings in the West African nation of Sierra Leone. Proceeds from the sale of the initial gold production are being used for continuing operations and will facilitate the purchase of customized equipment that will allow SGCP to advance its alluvial operation and commence the 'hard rock' phase of gold production.
Sierra Gold CEO Doug Evans commented on the progress of the company: "The extraction and sale of our first gold production validate our years of research and exploration. Needless to say, we are extremely excited that the company has entered the production phase." Mr. Evans added, "Our alluvial production, coupled with our soon-to-be initiated hard rock production, should provide significant returns on invested capital throughout the second half of 2008 and beyond. We look forward to sharing our successes with shareholders along the way."
About Sierra Gold Corp
Sierra Gold is engaged in the exploration and development of gold and diamond properties in West Africa. The greenstone belt of West Africa has had a long history of gold mining and prospecting. The region has been one of the fastest growing gold producing areas worldwide. Sierra Leone's neighbors, Ghana and Mali, are the second and third largest gold producers in all of Africa.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sierra Gold Corporation., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.