• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Guyana Gold Corp. Receives Proposal for Joint Venture to Develop Port Kaituma Gold Project

Posted on: Thursday, 12 June 2008, 09:00 CDT

Guyana Gold Corp. (OTC:GYGC-News) is pleased to report that it has received a joint venture proposal to develop the Port Kaituma Gold Project. The proposal would expand the company's land position and increase the scale of the Port Kaituma project. Guyana Gold Corp. had received a number of joint processing proposals and has now expanded those proposals to include ownership in the Port Kaituma project. Guyana Gold Corp.'s plans are to build a modern processing facility at Port Kaituma with far greater recovery rates of gold. The new joint ownership presents an excellent opportunity for Guyana Gold Corp. to increase revenue, expand mine life and accelerate the capital recovery costs of modernizing the Port Kaituma mine.

Eduard Aronov, President of Guyana Gold Corp., stated, "The Port Kaituma projects may realize many potential synergies leading to accelerated development of deposits on the joint venture property. The potential Joint Venture partner is preparing a geological information package and Guyana Gold Corp. will report updates as they become available."

The Port Kaituma property is located in the administrative region in Guyana. The main mineral interests in Guyana are gold, diamond and bauxite and, recently, semi-precious stones. The property is currently producing 100 ounces of gold per month and recently announced the purchase of additional equipment to increase its production to about 250 ounces per month.

For more information on the Company and its properties, please visit the website at www.guyanagoldcorp.com.

About Guyana Gold Corp.

Guyana Gold Corp. is a junior mineral exploration company that specializes in identifying, acquiring and developing precious and base metal properties as well as assessing whether certain claims possess exploitable commercial and precious mineral reserves. The Company's objective is to develop a balanced global portfolio of early-to-advanced stage projects. Guyana is currently focused on gold projects in the Caribbean. In Guyana, the Company's key mineral project is located in the region of Port Kaituma.

"Safe Harbor Statement"

FORWARD LOOKING STATEMENTS This Information and Disclosure Statement contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. Forward-looking statements represent the Company's expectations or beliefs concerning future events. The words believe, expect, anticipate, intend, estimate, project and similar expressions are intended to identify forward-looking statements. The Company cautions that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements, including without limitations the factors described in this Information and Disclosure Statement. Investors are cautioned not to place undue reliance on such forward-looking statements because they speak only of the Company's views as of the statement dates. Although the Company has attempted to list the important factors that presently affect the Company's business and operating results, the Company further cautions investors that other factors may in the future prove to be important in affecting the Company's results of operations. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Source: Business Wire

More News in this Category