KINGMAN, Ariz., May 31, 2013 /PRNewswire/ -- Sierra Resource
Group, Inc. (OTCBB: SIRG) (the "Company" or "Sierra") has become
aware that an outdated, technically incomplete, draft version of
its Mining Plan of Operation (MPO), as well as an old investor
presentation, may have been circulated via the Internet. The
Company did not authorize the release of this information, and
investors are cautioned not to rely on any of the information
contained in the outdated MPO or investor presentation.
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"This version is so incomplete that it is virtually useless to
anyone and can only serve to confuse the investing public. In
assessing the value of an investment in our Company, investors
should rely only on publicly available information contained in our
SEC filings and our official press releases," said J. Rod Martin, Chief Executive Officer of
Sierra.
Mr. Martin also asked shareholders and investors to refrain from
contacting Federal and State Permitting Officials, engineering
firms and other Company vendors. "Excessive phone calls
distract these officials from their important work and may delay
the processing of our permit applications," Mr. Martin said.
"Investors should not rely on any information except as disclosed
in our SEC filings and press releases. We understand the need to be
informed. As we near the end of the permitting process and look
forward to re-opening the Chloride Copper Mine, we are redoubling
our efforts to keep all shareholders and interested parties
informed of our progress and achievements."
Sierra's policies prohibit Company personnel from disseminating
material, non-public information or tips relating to the Company or
any of its subsidiaries, or any information that might affect the
market, in order to comply with SEC insider trading regulations.
Company personnel are also prohibited from engaging in short-term
or speculative transactions involving the Company's securities.
About Sierra Resource Group Inc.
Sierra Resource Group Inc. (OTCBB:SIRG) is a U.S based
exploration and mining company committed to the exploration,
discovery and development of gold, silver, copper and other mineral
resources. Sierra's primary asset was 90% ownership of the Chloride
Copper Mine (the "Mine") located near Kingman Arizona. Now after acquiring the
remaining 10% minority interest, Sierra owns 100% of the
Mine. The technical report, NI43-101, by Scott Wilson Roscoe
Postle Associates March 10, 2006,
estimates the Chloride Copper Mine contains 27,000,000 pounds of
copper.
Sierra plans to use open pit mining and plans to reopen the
existing SX/EW plant on site with a maximum capability of producing
up to 5,400,000 pounds of Copper Cathode per year.
Sierra's Management and Board of Directors consist of expert
geologists, mining professionals and experienced business
people.
FOR INFORMATION CONTACT:
Sierra Resource Group, Inc.
Ph. 702.462.7285
For more information visit our website:
www.sierragroupinc.com
J. Rod Martin CEO
info@sierragroupinc.com
Safe Harbor Statement under the Private Litigation Reform Act
of 1995. Forward-looking statements in this document do not
constitute guarantees of future performance. Such forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those anticipated. You can
anticipate that actual results will be different due to the
inherent uncertainty of estimates; forecasts and projections may be
better or worse than projected. Forward-looking statements may
relate, among other things, to expected financial and operating
results and the Company's ability to achieve its goals, plans and
objectives. The risks and uncertainties that may affect
forward-looking statements include among others: the Company's
limited operating history, the speculative nature of the Company's
planned operations, difficulty in developing new projects,
difficulty gaining necessary governmental approvals, the Company's
lack of market research and marketing organization, the Company's
inexperience in operating internationally, and difficulty managing
rapid growth. At this time, there can be no assurance that the
Company will successfully complete the permitting processes
referred to in this press release or obtain the financing it needs
to execute its plans. For a more detailed discussion of the risks
and uncertainties of Sierra Resource Group's business, please refer
to the Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2012, the
Company's Quarterly Report on Form 10-Q for the period ending
March 31, 2013, and the Company's
Reports Form 8-K, all as filed with the Securities and Exchange
Commission, and as subsequently amended. The Company assumes no
obligation to update any forward-looking statement contained in
this press release or with respect to any of the information
described herein.
SOURCE Sierra Resource Group, Inc.