Reno, Nevada, September 11, 2012. Cibolan Gold Corporation (OTC.Q: CIBG) announced today that it has begun the process of soliciting quotations from global vendors for pricing on the metallurgical processing and gold recovery equipment and systems it will need as the its Wilson Independence gold project is put into production. The Company will use contractors to mine using open pit mining methods. The heap leaching process facilities and equipment necessary to initially capture the gold in solution as well the equipment used in subsequent stages of gold recovery including carbon columns, pumps, stripping circuits, electro-winning circuits and furnaces is being solicited. In addition the Company intends to set up an atomic adsorption lab at the mine site.
Daniel J. Forbush, Company President and CEO, noted “A search for the best match in equipment is underway which will have a significant impact on the return on investment on this project. Our understanding of the Independence has progressed to the point where we now have a pretty comprehensive indication of how we will be able to recover gold and silver from our mineralization. This is great news for all our shareholders and partners. Thanks to the diligent efforts of the management team and our expert outside consultants we can now define with some certainty the types and capacity of the equipment we will need to produce and sell gold from our property.”
About Cibolan Gold Corporation: Cibolan Gold Corporation is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company is actively exploring and developing its 100% controlled Independence property strategically located in the prolific and highly prospective Battle Mountain Mining District of Nevada.
Cautionary Note to U.S. Investors – The U.S. Securities and Exchange Commission permits U. S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this presentation, such as “measured”, “indicated”, and “inferred” “resources”, which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our form 10-K which may be secured from us or the SEC website at: http://www.sec.gov/edgar.html
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the Company will find appropriately priced equipment or a contractor willing to move the muck on our property, or that it will be able to complete any additional financing activity, or that the near surface mineralized material will be economically recoverable.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Cibolan Gold Corporation
1155 West Fourth Street, Suite 210
Reno, NV 89503