Message #2 From:
NewsBot Date: December 12, 2005 11:29:00 AM
GLG News Glamis Concludes Successful Analyst Tour of Marlin Mine and Cerro Blanco Project; Provides Updates on Other Recent Drilling Activity
RENO, Nev.--(BUSINESS WIRE)--Dec. 12, 2005--Glamis Gold Ltd. (TSX:GLG)(NYSE:GLG) today announced that presentation slides and other supporting data used during its recently concluded Guatemalan analyst tour are available at its website at www.glamis.com. The data include background and highlights of the Marlin Mine, now in commercial production, as well as the Cerro Blanco development project. The December 5-7 event brought together 21 analysts and portfolio managers with Glamis management, operations and exploration personnel for site visits, presentations and Q&A sessions.
Glamis also announced that it has commenced drilling at the Guayacan prospect, located approximately four kilometers south of its El Sauzal mine in Chihuahua State, Mexico. The target represents a 1.5 km by 5 km surface gold anomaly along with some zones of high grade gold mineralization in scattered exposures. Some base metals mineralization has also been noted. The preliminary exploration program consists of twenty core holes expected to be complete by the first quarter of 2006.
Additionally, the Company has posted to its web site drilling results from the Dee property, located at the north end of the Carlin Trend in Nevada. The results include data from drilling in the South Arturo Zone that has previously been disclosed by Barrick Gold Corporation. Glamis holds a 40% interest in the Dee property; Barrick owns the remaining 60% and is operator of the joint venture.
Glamis Gold Ltd. is a premier intermediate gold producer with low-cost gold mines and development projects in Nevada, Mexico and Central America. Plans call for growth from over 400,000 ounces of gold production in 2005 to over 700,000 ounces in 2007. The Company remains 100 percent unhedged.
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, include, but are not limited to those with respect to, the price of gold, the estimation of mineral reserves and resources, the realization of mineral reserves estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, Glamis' hedging practices, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", or "does not expect", "is expected", "budget", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variation of such words and phrases or state that certain actions, events or results, "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Glamis to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual results of current exploration activities, actual results of current reclamation activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, possible variations in ore grade or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Other Considerations" in the Glamis Annual Information Form. Although Glamis has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
