TORONTO, ONTARIO, Nov. 6, 2009 (Marketwire) -- Sulliden Gold Corporation Ltd. ("Sulliden" or the "Company") (TSX:SUE) is pleased to announce that the Company's shareholders approved the Company's change of name to Sulliden Gold Corporation Ltd. at a meeting held September 17, 2009. As of market open today, the Company will commence trading on the TSX under its new name, "Sulliden Gold Corporation Ltd." The Company's ticker symbol remains unchanged.
Peter Tagliamonte, President and CEO commented "As the Shahuindo Gold Project progresses, we think the name Sulliden Gold Corporation better reflects the Company's focus on development, rather than exploration, as we move towards our goal of becoming a gold producer."
About Sulliden
Sulliden is a Canadian based mining company focused on the development and exploration of the Shahuindo Gold Project located in northern Peru, one of the world's most prolific gold and silver producing districts. World-class gold mines in the region include Barrick Gold's Lagunas Norte Mine, 30 km to the south, (1.2 million ounces of gold produced in 2008), and the Yanacocha Mine operated by Newmont Mining Company, 80 km to the north (1.8 million ounces of gold produced in 2008).
The Shahuindo Gold Project has a NI 43-101 compliant Mineral Resource Estimation completed by Met-Chem Canada Inc. in 2005 that estimates 38 million tonnes grading 0.95 grams per tonne of gold and 23 grams per tonne of silver of indicated resource (1.2 million ounces gold and 28 million ounce silver) and 17.2 million tonnes grading 0.62 grams per tonne of gold and 12.83 grams per tonne silver in the inferred category (342,000 ounces gold and 7.1 million ounces silver) (See Sulliden Press Release of April 29, 2005 for details regarding the resource estimate).
In March 2009, the five-year legal dispute that disrupted the Shahuindo Gold Project was resolved. With the current resolution, Sulliden now holds 100 percent registered and undisputed ownership of the Shahuindo property and has secured exploration options on sixteen adjoining mining concessions.
In April 2009, the Board of Directors appointed a new Management team with the focus and ability to develop, finance and operate mining projects. With a strong strategic plan to advance the development of its Shahuindo Gold Project and potential for mineral resource expansion, Sulliden is positioned to generate superior value for its shareholders.
The Mineral Resource Estimation was completed by Met-Chem Canada Inc.
