ANGEL GOLD: ANNOUNCES FILING OF INITIAL NI 43-101 TECHNICAL REPORT FOR THE EL CAFETAL PROJECT
January 8, 2013
Vancouver, British Columbia – Angel Gold Corp. (TSX-V: ANG) (“Angel” or the “Company”) is pleased to announce the completion of the initial National Instrument 43-101 Technical Report for the Company’s El Cafetal Project in Colombia by Paul Pelke, Certified Professional Geologist (AIPG), California Registered Geologist and Qualified Person under the guidelines of National Instrument 43-101. A copy of the technical report titled “NI 43-101 Technical Report on the El Cafetal Concession, Department of Antioquia, Republic of Colombia” and dated January 2, 2013 has been filed and is available on www.sedar.com. In the report, Mr. Pelke presents the compiled data from sampling of the underground mine workings on the property, the Mobile Metal Ion (MMI) soil sampling program and the geophysical program, comprised of Induced Polarity and Resistivity surveys and a magnetic field survey. He concludes that the exploration conducted to date indicates that the property merits a serious drilling program and proposes a budget of USD $751,550 for an initial phase of 2,000 meters of drilling and if results warrant a second phase of drilling 3,800 meters budgeted at USD $1,348,950 for a total of $2,100,500 for the 2013 drilling program.
“I am pleased that we have received and filed the initial 43-101 technical report for our El Cafetal gold project, which is a drill-ready property with all drilling permits currently in place. Initial drill sites and access trails have been completed and we look forward to advancing the initial drilling program in an expeditious manner. The property covers approximately 1,300 meters of strike length of an east-west trending zone of subparallel, sheeted gold veins and has never been drilled before” stated Stella Frias, President and CEO of Angel Gold Corp.
Mr. Paul A. Pelke, a Qualified Person under NI 43-101 and a consulting geologist to the Company has reviewed the content of this press release.
About Angel Gold Corp.:
Angel is a Canada-based gold exploration company focused on responsible development of mineral resources in Colombia, host to some of the world’s largest gold deposits. Angel has been working in Colombia for over three years and is advancing two main gold projects: the El Cafetal Gold Project and the Buritica West Gold Project. In addition, the Company continues its acquisition strategy in Colombia, having recently claimed over 6,800 hectares in four separate project areas.
On Behalf of the Board of Directors of Angel Gold Corp.
Blanca Stella Frias, Director
President and Chief Executive Officer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.For investor relations please contact:
Contact Financial Corp.
Angel Gold Corp.
837 Hastings Street West, Suite 408
Vancouver, BC, Canada V6C 3N6
Symbol: TSX-V: ANG
The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release. This news release contains certain “forward- looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.