VANCOUVER, Sept. 25, 2014 /CNW/ - Sandstorm Gold Ltd.
("Sandstorm" or the "Company") (NYSE MKT: SAND, TSX: SSL) has
remitted $9.25 million of the
$25 million it has committed to True
Gold Mining Inc. ("True Gold") (TSX-V: TGM) in connection with the
previously announced gold stream financing between Sandstorm,
Franco-Nevada Corporation and True Gold. True Gold is developing
the Karma Project in Burkina Faso,
West Africa ("Karma Project") and
Sandstorm anticipates remitting the remaining $15.75 million to True Gold over the course of
2014 and 2015.
Construction at the Karma Project is proceeding as planned. By
the end of September, site earthworks are expected to be over 60%
complete and long lead-time capital items such as the soft and hard
rock crushing circuits, leach pad liner, cement silos, and power
plant have been ordered while the major mining equipment including
the primary excavator, haul trucks, dozers, and graders will begin
to arrive at site in November. A scoping study of the North
Kao deposit is underway and is expected to be released in the
fourth quarter of this year.
Exploration at the Karma Project is ongoing. A total of 14,712
metres of drilling in 97 holes and 373 line-kilometres of ground
geophysics have been completed. Exploration is focused on both the
expansion of 2013/14 discoveries, such as the northern extension of
the Nami deposit (6.0 metres of 29.5 g/t Au)1, Watinoma
(70.5 metres of 1.91 g/t Au)2 and Yabonsgo (5.6 metres
of 12.6 g/t Au)3, as well as testing new targets to feed
the exploration pipeline (Soulou and Anomaly B).
(1) See True Gold news release
dated June 9, 2014.
(2) See True Gold news release dated
August 20, 2013.
(3) See True Gold news release dated
March 3, 2014.
Scott Heffernan, M.Sc., P.Geo.,
Vice President Exploration of True Gold, is the designated
Qualified Person within the meaning of NI 43-101 for this news
release. Mr. Heffernan has reviewed and verified that the
scientific and technical information contained in this release is
accurate and approves of the written disclosure of same.
ABOUT SANDSTORM GOLD
Sandstorm Gold Ltd. is a gold streaming company. Sandstorm
provides upfront financing to gold mining companies that are
looking for capital and in return, receives a gold streaming
agreement. A gold stream gives Sandstorm the right to purchase a
percentage of the gold produced from a mine, for the life of the
mine, at a fixed price per ounce. Sandstorm has acquired a
portfolio of ten streams and thirty-six royalties, fourteen of
which are producing gold. Sandstorm plans to grow and diversify its
low cost production profile through the acquisition of additional
gold streams.
For more information visit: www.sandstormgold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This press release contains "forward-looking statements", within
the meaning of the U.S. Securities Act of 1933, the U.S. Securities
Exchange Act of 1934, the Private Securities Litigation Reform Act
of 1995 and applicable Canadian securities legislation, concerning
the business, operations and financial performance and condition of
Sandstorm Gold Ltd. ("Sandstorm"). Forward-looking statements
include, but are not limited to, statements with respect to the
future price of gold, the estimation of mineral reserves and
resources, realization of mineral reserve estimates, and the timing
and amount of estimated future production. Forward-looking
statements can generally be identified by the use of
forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans",
or similar terminology.
Forward-looking statements are made based upon certain
assumptions and other important factors that, if untrue, could
cause the actual results, performances or achievements of Sandstorm
to be materially different from future results, performances or
achievements expressed or implied by such statements. Such
statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which Sandstorm will operate in the future,
including the price of gold and anticipated costs. Certain
important factors that could cause actual results, performances or
achievements to differ materially from those in the forward-looking
statements include, amongst others, gold price volatility,
discrepancies between actual and estimated production, mineral
reserves and resources and metallurgical recoveries, mining
operational and development risks relating to the parties which
produce the gold Sandstorm will purchase, regulatory restrictions,
activities by governmental authorities (including changes in
taxation), currency fluctuations, the global economic climate,
dilution, share price volatility and competition.
Forward-looking statements are subject to known and unknown
risks, uncertainties and other important factors that may cause the
actual results, level of activity, performance or achievements of
Sandstorm to be materially different from those expressed or
implied by such forward-looking statements, including but not
limited to: the impact of general business and economic conditions,
the absence of control over mining operations from which Sandstorm
will purchase gold and risks related to those mining operations,
including risks related to international operations, government and
environmental regulation, actual results of current exploration
activities, conclusions of economic evaluations and changes in
project parameters as plans continue to be refined, risks in the
marketability of minerals, fluctuations in the price of gold,
fluctuation in foreign exchange rates and interest rates, stock
market volatility, as well as those factors discussed in the
section entitled "Risks to Sandstorm" in Sandstorm's annual report
for the financial year ended December 31,
2013 available at www.sedar.com. Although Sandstorm has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. Sandstorm does
not undertake to update any forward looking statements that are
contained or incorporated by reference, except in accordance with
applicable securities laws.
SOURCE Sandstorm Gold Ltd.