BAT Batero Gold Corp

Batero Gold Corp. (TSX VENTURE:BAT) - 

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Batero Gold Corp. (the "Company") announces today that as a result of a review
by the British Columbia Securities Commission (the "BCSC"), the Company is
issuing the following news release to clarify its continuous disclosure record.


On March 22, 2012, the Company issued a news release reporting "Preliminary
Oxide Resource Potential and Metallurgical Test Results" based on the technical
report titled "Technical Report on the Batero-Quinchia Project, Department of
Risaralda, Colombia" dated February 24, 2012 (the "Initial Technical Report").
The Company would like to clarify that the oxide mineralization previously
disclosed in the Initial Technical Report qualifies as an indicated and inferred
resource estimate under National Instrument 43-101 Standards of Disclosure for
Mineral Projects ("NI 43-101"), rather than merely resource potential. 


The Company is filing on SEDAR (i) an amended technical report titled "Technical
Report on the Batero-Quinchia Project, Department of Risaralda, Colombia" dated
February 24, 2012 revised April 19, 2012 (the "Revised Technical Report"); and
(ii) a revised annual information form dated May 8, 2012, that supports the
indicated and inferred oxide resource estimate and corrects certain other
disclosure that was not in compliance with NI 43-101. There have been no other
changes to any previously disclosed resource estimates or other material changes
resulting from the Revised Technical Report.


In addition, the Company would also like to retract its use of the phrases
"resource potential" and "resource estimate potential", both used in reference
to exploration potential and "potential leachable gold resource" used in
reference to the oxide zone within the mineral resource estimate, as such
phrases are not acceptable under NI 43-101. The above terminology was used in
reference to what was initially published in the Initial Technical Report, and
the Revised Technical Report corrects this disclosure.


The Company has also made changes to its website, corporate fact sheet and
presentation that contained references to exploration targets that were
disclosed without providing the required cautionary language in NI 43-101. In
addition, the corporate fact sheet reported mineral resources solely in the form
of contained ounces, contrary to NI 43-101. 


The Company has also removed from its website (i) all links to third party
articles including an article written in the Globe and Mail dated January 16,
2012 that reported an expected initial resource estimate that was not in
accordance with NI 43-101 and (ii) a 2012 article published by Bull & Bear
Financial Report that contained exploration targets that are contrary to NI
43-101. Investors should not rely on this information as it is not in compliance
with NI 43-101 and not supported by the Revised Technical Report.


In those instances where the Company has retracted, revised, clarified or
updated previous disclosure, the Company advises readers not to rely on such
statements as they may continue to be found in the public domain.


The scientific and technical information contained in this news release was
prepared by or under the supervision of Paul Chamois, M.Sc. (applied), P.Geo.,
and Luke Evans, M.Sc., P.Eng., of Roscoe Postle Associates Inc., who are
independent Qualified Persons under National Instrument 43-101.


ON BEHALF OF THE BOARD OF BATERO GOLD CORP.

Brandon Rook, President & CEO 

Batero Gold Corp.

FORWARD-LOOKING STATEMENTS: Certain of the statements and information in this
press release constitute "forward-looking statements" or "forward-looking
information" Any statements or information that express or involve discussions
with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but not always,
using words or phrases such as "expects", "anticipates", "believes", "plans",
"estimates", "intends", "targets", "goals", "forecasts", "objectives",
"potential" or variations thereof or stating that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be
achieved, or the negative of any of these terms and similar expressions) are not
statements of historical fact and may be forward-looking statements or
information.


Forward-looking statements or information relate to, among other things: the
timing and scope of expected diamond drilling; resource estimate, grades on the
Batero-Quinchia project; scope of mineralization within the Batero-Quinchia
project; timing of receipt of permits and regulatory approvals; the sufficiency
of the Company's capital to finance the Company's operations; geological
interpretations and potential mineral recovery processes.


Forward-looking statements or information are subject to a variety of known and
unknown risks, uncertainties and other factors that could cause actual events or
results to differ from those reflected in the forward-looking statements or
information, including, without limitation, risks relating to: fluctuations in
the spot and forward price of gold or certain other commodities; changes in
national and local government legislation, taxation, controls, regulations and
political or economic developments in Canada, Colombia or other countries in
which the Company may carry on business in the future; the uncertainties
involved in interpreting geological data; business opportunities that may be
presented to, or pursued by, the Company; operating or technical difficulties in
connection with mining activities; the speculative nature of gold exploration
and development, including the risks of obtaining necessary licenses and
permits; diminishing quantities or grades of reserves; and contests over title
to properties, particularly title to undeveloped properties. In addition, there
are risks and hazards associated with the business of gold exploration,
development and mining, including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion
losses (and the risk of inadequate insurance, or the inability to obtain
insurance, to cover these risks).


This list is not exhaustive of the factors that may affect any of the Company's
forward-looking statements or information. Forward-looking statements or
information are statements about the future and are inherently uncertain, and
actual achievements of the Company or other future events or conditions may
differ materially from those reflected in the forward-looking statements or
information due to a variety of risks, uncertainties and other factors,
including, without limitation, those referred to in the Company's Filing
Statement dated as of June 22, 2010 under the heading "Risk Factors". Although
the Company has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause results not
to be as anticipated, estimated, described or intended. Accordingly, readers
should not place undue reliance on forward-looking statements or information.


The Company's forward-looking statements and information are based on the
assumptions, beliefs, expectations and opinions of management as of the date of
this press release, and other than as required by applicable securities laws,
the Company does not assume any obligation to update forward-looking statements
and information if circumstances or management's assumptions, beliefs,
expectations or opinions should change, or changes in any other events affecting
such statements or information. For the reasons set forth above, investors
should not place undue reliance on forward-looking statements and information.


Cautionary Note Regarding Mineral Resources and Mineral Reserves

Readers are advised that National Instrument 43-101 of the Canadian Securities
Administrators requires that each category of mineral reserves and mineral
resources be reported separately. Readers should refer to the Company's current
technical reports and other continuous disclosure documents filed by the
Company, available on SEDAR at www.sedar.com for further information the mineral
resource estimates of the Company's projects, which are subject to the
qualifications and notes set forth therein, as well as for additional
information relating to the Company more generally.


Mineral resources which are not mineral reserves, have a great amount of
uncertainty as to their existence and do not have demonstrated economic or legal
viability. Inferred mineral resources have insufficient confidence to allow the
meaningful application of technical and economic parameters or to enable an
evaluation of economic viability suitable for public disclosure. Neither the
Company, nor readers, can assume that all or any part of an inferred mineral
resource will be upgraded to indicated or measured mineral resources. Most
projects at the inferred mineral resource stage do not ever form the basis of
feasibility or other economic studies, or achieve successful commercial
production. Each stage of a project is contingent on the positive results of the
previous stage and that there is a significant risk that the results may not
support or justify moving to the next stage.

Batero Gold (TSXV:BAT)
Historical Stock Chart
From Jun 2024 to Jul 2024

Batero Gold (TSXV:BAT)
Historical Stock Chart
From Jul 2023 to Jul 2024