VANCOUVER, April 25, 2018 /CNW/ - Golden Reign Resources
Ltd. (TSX-V: GRR) (the "Company" or "Golden Reign") announces an
update on operational advancements at its wholly-owned San
Albino-Murra Property (the "Property") in Nueva Segovia, Nicaragua. The Company has initiated
construction of new public access roads. Covering a distance
of approximately 1.2 kilometres in length, the new 7 metre wide
roads will offer improved access to the San Albino Mine and
surrounding areas and provide access around the perimeter of the
future San Albino Mine planned
infrastructure.
"The construction of new public roads will provide ease of
access around, and to, the future San Albino mine site as well as
provide improved public safety and other positive socioeconomic
benefits for the area. These new roads are not only supply
lines to communities and residences, the route to the nearest
hospital and a school bus route for children but also an
infrastructure platform for rural economic diversification and
growth, supporting the full range of different businesses and,
overall, improving the quality of life of local
residents", stated Kevin Bullock, Golden Reign's CEO and
Director.
The Company completed detailed engineering studies and obtained
the required municipal permits for construction of a new access
road to the community of San Albino that also allows the expansion,
enhancement, and/or modification of the existing road into the San
Pablo community. A second road will provide access to a newly
constructed pedestrian bridge that leads to a public school which
is currently accessed through the historic San Albino mill
site. The new roads, which are off-shoots of the primary,
all-season El Jicaro road, will provide access for heavy machinery
and transport trucks carrying large loads of material – resulting
in reduced travel time and significantly improved safety.
Additionally, the Company is seeking to minimize operational impact
on certain affected local communities.
The roads will be outsloped (or crowned) and ditched to promote
drainage and intersecting clips or water bars and lead-offs will be
installed as needed to reduce erosion potential. The roads will be
all-season, maintained by periodic dressing and blading, as
required.
The Company intends to exclusively use local contractors and
community members to undertake and supervise its road construction
initiatives. This is in recognition of the strong support from the
community and local administration. Crews and equipment will
be mobilized shortly with work commencing on both road sections
simultaneously. The work is expected to be complete by the
end of the July 2018.
On behalf of the Board,
"Kevin Bullock"
Kevin Bullock,
P.Eng.
CEO
About Golden Reign:
Golden Reign Resources Ltd. is a publicly listed (TSX-V: GRR)
mineral exploration company engaged in exploring the San
Albino-Murra Property and the El Jicaro Property, both of which are
located in Nueva Segovia,
Nicaragua.
The Company's prime objective is to bring its San Albino Gold
Deposit into production quickly and efficiently, building cash flow
to further advance a number of its other prospective exploration
targets.
The Company's land package comprises 13,771 hectares (138
km2) of prospective ground for gold and silver
mineralization. Hundreds of historical mines and workings exist
within the Corona de Oro Gold Belt, which is approximately 3
kilometres wide by 20 kilometres long and is spanned by the
Company's land package.
Forward-Looking Statements: Some of the
statements contained herein may be considered "forward-looking
information" within the meaning of applicable securities
laws. Forward-looking information is based on certain
expectations and assumptions, including the assumption that the
Company's exploration program will be successfully completed, and
are subject to known and unknown risks and uncertainties.
Such forward-looking information is subject to a variety of risks
and uncertainties which could cause actual events or results to
differ materially from those reflected in the forward-looking
information, including, without limitation, the risk that
satisfactory exploration results will not be obtained, the risk
that exploration results will not translate into the discovery of
an economically viable deposit, risks and uncertainties relating to
political risks involving the Company's exploration and development
of mineral properties interests, the inherent uncertainty of cost
estimates and the potential for unexpected costs and expenses,
commodity price fluctuations, the inability or failure to obtain
adequate financing on a timely basis and other risks and
uncertainties. Such information contained herein represents
management's best judgment as of the date hereof, based on
information currently available.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Golden Reign Resources Ltd.