Business & Finance
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Published in Business and Finance on Monday, March 30th 2009 at 14:04 GMT, Last Modified on 2009-03-30 14:05:01 by Market Wire
CAMERON PARK, CA--(Marketwire - March 30, 2009) - Firstgold Corp. (TSX: [ FGD ]) (
"We received notice today that the carbon from the Relief Canyon mine has been processed, and a doré bar containing 13.62 ounces of gold and 42 ounces of silver has been poured. While the quantity is not indicative of regular run rates, achieving this milestone officially makes Firstgold a gold producing company with a revenue source. Now it is only a matter of time for the grades to build and production to reach its full capacity at Relief Canyon," commented Company Founder/COO Scott Dockter.
"Over the next year, I believe you will see remarkable progress in Firstgold Corp.," stated Steve Akerfeldt, Firstgold CEO.
In addition to the announcement of the first gold/silver doré pour, Firstgold announces that Ed Baer will not become a board member as previously announced. Upon further discussion between the parties, potential conflicts were identified that make this appointment inadvisable. The Board wishes to thank Mr. Baer for considering the appointment.
Over the last 24 months Firstgold has spent $16 million developing a processing facility at Relief Canyon, located outside Lovelock Nevada, on the site of the previously producing Pegasus Gold Mine. Firstgold currently leases over 10,000 acres of prime exploration property in Nevada. Additional information about Firstgold Corp. can be found by visiting its web site at [ www.firstgoldcorp.com ].
Safe Harbor Statement
The matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended that involve risks and uncertainties. Although Firstgold Corp. believes that the expectations reflected in such forward-looking statements are reasonable, the forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. Firstgold Corp. cautions investors that any forward-looking statements made by Firstgold Corp. are not guarantees of future performance and that actual results may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those reflected in forward-looking statements include, but are not limited to, risks and uncertainties regarding the actual mineralization of Firstgold Corp.'s mining properties, the unproven nature of and potential changes to Firstgold Corp.'s business model, the risk that the capital and other resources that Firstgold Corp. will need to exploit its business model will not be available, and the risks discussed in Firstgold Corp.'s Form 10-KSB and in Firstgold Corp.'s 10-QSBs and in Firstgold Corp.'s other filings with the Securities and Exchange Commission.
Cautionary Note to U.S. Investors -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press releases), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-k which may be secured from the SEC, or from their website at [ http://www.sec.gov/edgar.html ]
