WALNUT CREEK, Calif., Sept. 27, 2011 (GLOBE NEWSWIRE) -- Sagebrush Gold, Ltd. (OTCBB:SAGE) and Continental Resources Group, Inc. (OTCBB:CRGC) announced today that Sagebrush Gold has successfully obtained the approval of BLM and the Nevada Division of Environmental Protection ("NDEP") to the transfer of permits to Gold Acquisition Corp, a wholly owned subsidiary of the Company, for activities at the Company's Relief Canyon Gold Project. The transferred permits include the BLM Plan of Operations and related bond, the NDEP Reclamation Permit, and the NDEP Water Pollution Control Permit. Additionally, BLM and NDEP have authorized exploration drilling to begin on approved sites in the Plan of Operations/Reclamation Permit.
The Relief Canyon Gold Project is in Packard Flat, which is located in the Antelope Springs mining district, Pershing County, 15 miles Northeast of Lovelock Nevada. "While significant work has been completed by past operators, Sagebrush Gold believes that Relief Canyon provides the Company with dual opportunities consisting of excellent new exploration targets in under-explored areas of the property and drilling to increase and upgrade existing resources," said Sagebrush Chairman Barry Honig. The Company is currently planning an aggressive exploration program aimed at growing the current NI43-101 compliant gold resource at Relief Canyon.
Barry Honig stated, "We are pleased to have these permits transferred to Sagebrush Gold and we are very excited about the prospect of drilling at Relief Canyon. We believe that we will be able to increase the number of ounces estimated in the ground and therefore add shareholder value in the near-term."
About Sagebrush Gold, Ltd.
Sagebrush Gold, Ltd. is a junior gold exploration company focused on searching for world class resources and seeking out potentially significant gold exploration and development targets in Nevada's leading gold districts.
Legal Notice and Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar expressions, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. The Company assumes no obligation to update any of the information contained or referenced in this press release.