VANCOUVER,
Oct. 29, 2013 /PRNewswire/ - Sarama
Resources Ltd ("Sarama" or the "Company") announces
the filing of a technical report prepared in accordance with the
Canadian Securities Administrator's National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI
43-101") in support of the Company's September 16, 2013 news release which announced a
maiden Mineral Resource estimate for the South Houndé Project in
Burkina Faso.
Cube Consulting Pty Ltd and Orway Mineral
Consultants Pty Ltd prepared the technical report titled "NI 43-101
Independent Technical Report, South Houndé Project, Bougouriba and
Ioba Provinces, Burkina Faso",
dated October 28, 2013. The technical
report is available under the Company's profile on SEDAR at
www.sedar.com.
There are no material differences in the
technical information contained in the technical report compared to
the disclosure in the September 16,
2013 news release.
For further information on the Company's
activities, please contact:
Andrew Dinning
or Paul Schmiede
e: info@saramaresources.com
t: +61 (0) 8 9363 7600
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
ABOUT SARAMA RESOURCES LTD
Sarama Resources Ltd (TSX-V: SWA) is a West
African focused gold explorer with substantial landholdings in
Burkina Faso, Liberia and Mali.
Sarama's flagship properties are situated within
the Company's South Houndé Project area in south-west Burkina Faso. The Company's exploration
programs within the prolific Houndé greenstone belt have built on
significant early success to deliver a maiden Inferred Mineral
Resource estimate of 1.5 Moz gold1. Outside of
Burkina Faso, Sarama is focused on
consolidating a number of under-explored landholdings in other
emerging and established mining jurisdictions.
Incorporated in 2010, the Company's board and
management team have a proven track record in Africa and a strong history in the discovery
and development of large-scale gold deposits. Sarama is well
positioned to build on its current success with a strong financial
position and a sound exploration strategy across its property
portfolio.
______________________________________
1 29.13 Mt @ 1.6 g/t Au for 1.50 Moz Au (at 0.8 g/t Au cut-off)
CAUTION REGARDING FORWARD LOOKING
STATEMENTS
Information in this news release that is not
a statement of historical fact constitutes forward-looking
information. Such forward-looking information includes
statements regarding the Company's future exploration and its
maiden Mineral Resource estimate at the South Houndé Project.
Actual results, performance or achievements of the Company may vary
from the results suggested by such forward-looking statements due
to known and unknown risks, uncertainties and other factors. Such
factors include, among others, that the business of exploration for
gold and other precious minerals involves a high degree of risk and
is highly speculative in nature; Mineral Resources are not Mineral
Reserves, they do not have demonstrated economic viability, and
there is no certainty that they can be upgraded to Mineral Reserves
through continued exploration; few properties that are explored are
ultimately developed into producing mines; geological factors; the
actual results of current and future exploration; changes in
project parameters as plans continue to be evaluated, as well as
those factors disclosed in the Company's publicly filed
documents.
There can be no assurance that any
mineralisation that is discovered will be proven to be economic, or
that future required regulatory licensing or approvals will be
obtained. However, the Company believes that the assumptions and
expectations reflected in the forward-looking information are
reasonable. Assumptions have been made regarding, among other
things, the Company's ability to carry on its exploration
activities, the sufficiency of funding, the timely receipt of
required approvals, the price of gold and other precious metals,
that the Company will not be affected by adverse political events,
the ability of the Company to operate in a safe, efficient and
effective manner and the ability of the Company to obtain further
financing as and when required and on reasonable terms. Readers
should not place undue reliance on forward-looking
information.
Sarama does not undertake to update any
forward-looking information, except as required by applicable
laws.
QUALIFIED PERSON STATEMENT
Information with respect to data
verification, exploration information and the preparation of the
Mineral Resource estimate can be found in the Company's technical
report entitled "NI 43-101 Independent Technical Report, South
Houndé Project, Bougouriba and Ioba Provinces, Burkina Faso" dated October 28, 2013, which is available under the
Company's profile on SEDAR at www.sedar.com.
Scientific or technical information in this
News Release that relates to the preparation of the Company's
Mineral Resource estimate is based on information compiled or
approved by Adrian Shepherd.
Adrian Shepherd is an employee of
Cube Consulting Pty Ltd and is considered to be independent of
Sarama Resources Ltd. Adrian
Shepherd is a chartered professional member in good standing
of the Australasian Institute of Mining and Metallurgy and has
sufficient experience which is relevant to the commodity, style of
mineralisation under consideration and activity which he is
undertaking to qualify as a Qualified Person under National
Instrument 43-101. Adrian Shepherd
has reviewed and approved this News Release and consents to the
inclusion in this News Release of the information, in the form and
context in which it appears.
SOURCE Sarama Resources Limited