
SACRE-COEUR MINERALS BEGINS SHIPPING OF GOLD PRODUCED FROM TEST MINING PROGRAM AT MILLION MOUNTAIN PROJECT IN GUYANA
March 10, 2010
VANCOUVER, B.C. – SACRE-COEUR MINERALS, LTD.(the"Company")”)announces that it has commenced shipping of limited gold production from its alluvial test mining program on Million Mountain Alluvial Zone 2, located in Guyana South America. Initial shipments totalling approximately 30 tr oz Au will be sold to the Guyana Gold Board this week. Following these initial shipments, production from on-going test mining will be periodically sold to the Guyana Gold Board as the Company continues testing operations while it prepares for full scale production as announced in its PR dated 24 – February, 2010. Output is expected to gradually increase as the Company moves incrementally into full scale production from its first operating unit over the next few months.
Gold produced by the Company is purchased by the Guyana Gold Board, an agency of the Republic of Guyana, at London PM fixing price on the day of settlement, less royalty payable to the Guyana Government equal to 5% of the settled value.
This is an important milestone in the development of the Company’s alluvial gold deposits in Guyana. Sales of gold produced from the test mining program will help offset the costs associated with ramping up to full scale production, as well as the Company’s ongoing hard-rock gold exploration program. The goal of the Company at full scale alluvial production is to reach cash self-sufficiency with respect to all of its operating and exploration costs through revenue generated by its alluvial mining activities. While the Company remains unflaggingly committed to its primary objective of identifying and developing major hard-rock gold deposits on the more than 1,000 sq km of properties it holds in Guyana, the Company also expects to further expand its alluvial operations to include multiple operating units in order to fully exploit the alluvial gold resource potential on it properties concurrent with its on-going exploration programs.
Technical Staff
The Company’s mining and exploration program is overseen by Mr. A. David Heyl, P. Geo., Director Mining and Exploration for the Company. The refinery is managed by Mr. Ardito Martohardjono, Refinery Manager. Exploration is directed by Mr. Henry Salvado, Chief Geologist – Puruni District. The alluvial exploration program is headed by Mr. Roan Dabuet, assisted by Mr. Johnson Poshiwa, both Senior Project Geologists with many years of alluvial gold experience. Mr. Martohardjono, in addition to his role as Refinery Manager, is a Director of the Company, and a laboratory specialist who provides assistance establishing lab protocols, sample handling procedures, and assay quality control. The undersigned, Mr. Heyl, and Mr. Salvado are qualified persons under NI 43-101.
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in South America, initially focussing on exploration for gold on its properties in Guyana. The Company presently has an interest in approximately 1000 sq. km of mineral properties in Guyana, including the Million Mountain Property. The Company has offices in Vancouver, Canada and Georgetown, Guyana. More information about the Company is available at www.scminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.
“Gregory B. Sparks”
President and CEO
For further information, contact:
Gregory B. Sparks, President and CEO
Email: greg@scminerals.com
Phone: 604-899-0100
Fax: 604-899-0200
Scott Young, Corporate Communications – Canada
Email: scott@scminerals.com
Phone:
: 705-888-2756
Fax: 604-899-0200
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.
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Investor relations contacts
Scott Young, Investor Relations – Canada
Phone: (604) 888-2756
Fax: (604) 899-0200
Email: scott@scminerals.com