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Sierra Gold Corporation Confirms the Presence of Platinum Group Metals With Encouraging Results

Posted on: Wednesday, 14 February 2007, 09:00 CST

TORONTO, Feb. 14, 2007 (PRIME NEWSWIRE) -- Sierra Gold Corporation (Pink Sheets:SGCP) has just received assay results from its December bulk-sampling program from SGS Laboratories in Toronto, Canada, that has confirmed the presence of platinum group metals with encouraging results. Sample concentrates were taken from two separate pits. Assay results for platinum were .31 oz/ton and .13 oz/ton respectively. Results for gold and other precious and rare earth metals are expected shortly.

Platinum demand is expected to grow at a 9% rate in 2007. Nearly 50% of platinum demand comes from its use in antipollution devices on automobiles. Major platinum demand also comes from applications in the petroleum, glass and electronics industries as well as from the jewelry industry particularly in India, China and Turkey.

Sierra Gold's geological team has returned to the Pampana North property this week to investigate and further explore the presence and potential values of precious metals. The team will plan a program to more clearly define and develop the property in the areas tested that have given the most encouraging results. This program will also include the hard rock portion of the property as well.

Because the company needs to do more extensive testing to determine the value of the potential precious metals, the value per share of $7.42 given on December 13, 2006 only pertains to the placer gold deposits on the property.

Sierra Gold is engaged in the exploration and development of gold and diamond properties in West Africa. The company will continue to conduct extensive research and development of high quality mineral exploration projects.

Safe Harbor: No assurance can be given that past or similar results of precious metal mining will be indicative of future results. 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.

This news release was distributed by PrimeNewswire, www.primenewswire.com

CONTACT: Sierra Gold Corporation Jeremy Hunt, Corporation Consultant 304.523.3980 jhunt@invstrategies.com www.sierragoldcorp.com

Source: PrimeNewswire

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