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NewsBot Date: November 14, 2005 02:07:10 PM
CGLD Capital Gold, News DD Research Message Board
Capital Gold's El Chanate Gold Project Takes Center Stage at Mexico Mining Reception
NEW YORK, July 13 /PRNewswire-FirstCall/ -- Capital Gold Corporation's (OTC Bulletin Board: CGLD) El Chanate gold project in Sonora, Mexico, was featured at a high level Mexican reception held in New York. The event, attended by miners, investors, analysts and the media, was specially convened by the Mexico Ministry of Commerce, the Mexican Trade Commissioner and Mexico Trade, to celebrate Mexico's burgeoning gold mining sector and the opportunities that it holds out to U.S. and international investors.
Principal speakers included Mr. Salvador Ortiz Vertiz, Under Secretary, Ministry of Commerce and Mexico's principal mining authority, Ian Telfer, CEO of Goldcorp, Inc., soon to be Mexico's largest producer, and Roger Newell, VP and Director of Capital Gold. Presentations were moderated by Eduardo Ramos Gomez, President of the US-Mexico Chamber of Commerce and previously Mexico's Ambassador to Singapore. Other high level Mexican officials included Eduardo Gonzalez, Mexico's Trade Commissioner in New York and Director of Bancomext and Pedro Matar of Mexico Trade, who directs mining investment into a number of Mexican states.
Mr. Salvador Ortiz Vertiz said that Mexico's mining sector had grown substantially in recent years and had attracted a growing number of North American and international mining companies, two of which Goldcorp and Capital Gold, represented the best of the major and junior mining companies.
In thanking the Minister, Roger Newell, Vice President of Development and a Director of Capital Gold, described the progress the company was making at their El Chanate open pit gold project in Sonora which, he said, is bringing the company close to production. 'Capital Gold is appreciative of the support given to the company by the Sonora State authorities and the federal government agencies all of which is highly conducive to profitable mining in Mexico and provides yet another level of support for those investing in our company. We are delighted that Capital Gold is able to represent Mexico's junior mining projects at so distinguished a gathering and especially pleased to have been able to advise so many analysts, investors and the media about our progress and the promise we -- and Mexico -- hold out to investors,' he said.
Capital Gold Announces Further Progress At El Chanate Gold Project; Purchases Major Equipment and Additional Mining Concession
Capital Gold Corporation (OTC/BB: CGLD) announced today the first of several major equipment purchases at the El Chanate open pit gold project in Sonora Mexico, a significant step bringing the mine closer to production.
In addition to the equipment purchase, the company also announced that an additional mining concession - El Charro - had also been purchased and that the title had been received. El Charro represents an area of widespread gold mineralization and lies within the current EL Chanate property boundaries.
Describing the company's progress, Capital Gold's Chairman, Gifford Dieterle, said today that they had acquired two 7-foot Symons HD Short Head cone crushers which would undertake the final stage of the crushing process at El Chanate. Primary and secondary crushers are currently being evaluated for purchase, as well as screens and feeders. "Capital Gold personnel and outside experts are investigating several units currently made available to us and we anticipate further purchases later this month," he said.
Mr. Dieterle said that the company had also succeeded in establishing an excellent water supply at the mine site. The acquisition of a water well is now complete with ownership transferred to the company on June 1st. The well is located on a large regional aquifer that is capable of producing a sustained flow of about 1,200 gallons per minute, more than adequate for the company's needs. Mr. Dieterle said that pictures of the operating well are posted on the company's website, www.capitalgoldcorp.com.
Access to the El Chanate mine site is also well in hand. The company had purchased land for the right of way for both service and access roads and title had been transferred. "The purchase of the crushing unit is a significant step that brings us closer towards our ultimate goal of gold production at El Chanate. This, together with our purchase of the El Charro mining concession and the progress of a widespread gold mineralization that it brings, encourages us greatly," Mr. Dieterle added.
Capital Gold Names Eppler as Senior Financial Advisor
NEW YORK, April 18, 2005 (PRIMEZONE) -- Capital Gold Corporation (OTCBB:CGLD) is pleased to announce that it has named W. Durand Eppler as Senior Financial Advisor to the company, effective immediately. His duties include heading the company's financial planning and corporate strategy for the El Chanate gold project in Sonora, Mexico.
Mr. Eppler, formerly of Newmont Mining Corporation, held the positions of Vice President of Newmont Capital, Ltd., President of Newmont Indonesia, Vice President of Corporate Development and Vice President Corporate Planning. Prior to joining Newmont, he was Managing Director of Chemical Securities Corporation, providing corporate finance and investment banking services to companies in the natural resource sector. Mr. Eppler holds an M.S. degree in Mineral Economics from the Colorado School of Mines and a Bachelor of Arts from Middlebury College. He is also a 25 year member of the Society of Mining Engineers. "We are very happy to add Randy Eppler to the Capital Gold team," says Chairman Gifford Dieterle. "He brings to us a wealth of experience in both the financial and business development areas."
Further information about Capital Gold and the El Chanate project is available on the Company's website, www.capitalgoldcorp.com
Statements in this press release, other than statements of historical information, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from those projected or suggested due to certain risks and uncertainties, some of which are described below. Such forward looking statements include comments regarding the establishment and estimates of mineral reserves (and non-reserve mineralized material), future increases in mineral reserves, the recovery of any mineral reserves, construction cost estimates, construction completion dates, equipment requirements and costs, production, production commencement dates, grade, processing capacity, potential mine life, results of feasibility studies, development, costs and expenditures. Factors that could cause actual results to differ materially include timing of and unexpected events during construction, expansion and startup; variations in ore grade, tons mined, crushed or milled; delay or failure to receive board or government approvals; timing and availability of external financing on acceptable terms for equipment, construction, working capital and other purposes; the availability of adequate power and water supplies; the availability of adequate mining equipment; technical, permitting, mining or processing issues, and fluctuations in gold price and costs. There can be no assurance that future developments affecting the Company will be those anticipated by management.
The forecasts contained in this press release constitute management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received and that actual results will vary from these estimates, possibly by material amounts. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event. Investors and others should not assume that any forecasts in this press release represent management's estimate as of any date other than the date of this press release. Additional information concerning certain risks and uncertainties that could cause actual, results to differ materially from that projected or suggested is contained in the Company's filings with the Securities and Exchange Commission (SEC) over the past 12 months, copies of which are available from the SEC or may be obtained upon request from the Company.
CONTACT:
Capital Gold Corporation
Jeff Pritchard, VP-Corporate Relations
Tel: 212-344-2785
Fax: 212-344-4537
Email: investorrelations@capitalgoldcorp.com
Media Inquiries
Marston Webb International
Victor Webb/Madlene Olson
Tel: 212-684-6601
Fax: 212-725-4709
Email: marwebint@cs.com
