TORONTO, March 29, 2007 (PRIME NEWSWIRE) -- Sierra Gold Corporation (Pink Sheets:SGCP) has secured and option from its joint venture partner to 100% of the mining rights for a 10 sq.mi. (26 sq.km.) gold property in Sierra Leone, West Africa. The property lies to the north and adjacent to the Pampana North and is considered to be mainly hard rock. These gold concessions serve as a platform to engage in a greenstone belt area with proven historical exploration and geology. This particular area in the Sula Mountains contains the largest known hard rock gold vein deposit in Sierra Leone.
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 mining producing areas worldwide. Sierra Leone's neighbours, Ghana and Mali, are the second and third largest gold producers in all of Africa.
Several world-class mining companies have been historically involved with gold mining operations in West Africa while others have recently established themselves in the region. Like its neighbours, Sierra Leone also has the potential to become a significant gold producing country and Sierra Gold is poised to take advantage of this opportunity. No assurance can be given that past or similar results of the gold mining will be indicative of future results.
Safe Harbour
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding of discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intent to" and similar conditional expressions are intended to identity forward-looking statements within the meaning of the Act and are subject to the safe harbour created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks in the company's SEC reports and filings.