Ucore Rare Metals Releases 2011 Bokan Drill Results Pending Augmented Resource Calculation

HALIFAX, NOVA SCOTIA--(Marketwire - Jan. 23, 2012) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or "the Company") is pleased to announce finalized assay results from the 2011 drill program at the Bokan-Dotson Ridge rare earth element (REE) project in southeast Alaska. The 2011 drill program produced a total of 10,112 metres of core from 34 diamond drill holes. The data will be used to upgrade the status of the existing National Instrument (NI) 43-101 compliant resources from Inferred to Indicated and to increase the size of the existing mineral resources at Dotson Ridge. Together with the previous Ucore drill programs from 2007 to 2010, the Company has now completed 134 drill holes in total, comprising 19,662 meters of core at the Bokan property.

A map showing the location of the drill holes reported in this press release can be accessed on the Company's website (http://ucore.com/2011drillholes).
The following table summarizes significant intersected values from 27 out of 34 holes completed in 2011.

2011 Assay Drill Core Results

Hole	Depth From(m)	Depth to(m)	Width (m)	LREO (wt.%)	HREO (wt.%)	TREO (wt.%)	HREO/TREO (%)
LM11-92	151.93	153.72	1.79	0.53	0.52	1.04	50
LM11-92	167.36	171.1	3.08	0.27	0.15	0.42	36
LM11-92	179.27	181.67	2.4	0.32	0.20	0.51	38
LM11-101	154.63	156.65	2.02	0.59	0.20	0.79	25
LM11-103	184.4	186.56	2.16	0.39	0.30	0.69	43
LM11-105	147.55	151.26	3.71	0.62	0.24	0.86	28
LM11-106	189.5	192	2.5	0.48	0.15	0.63	24
LM11-106	296.2	298.7	2.5	0.29	0.19	0.48	40
LM11-107	109.26	113.55	4.29	0.14	0.18	0.32	57
LM11-108	139.65	141.17	1.52	0.31	0.33	0.64	51
LM11-109	153.87	155.72	1.85	0.18	0.23	0.41	56
LM11-110	222.45	226.77	4.32	0.32	0.33	0.80	51
LM11-112	76.42	79.32	2.9	0.58	0.17	0.75	22
LM11-112	121.01	123.26	2.25	0.19	0.28	0.47	60
LM11-112	125.07	131	4.68	0.22	0.16	0.38	42
LM11-113	160.8	161.6	0.8	0.45	0.53	0.97	54
LM11-113	164.03	166.38	2.35	0.41	0.34	0.75	45
LM11-114	156.36	157.05	0.69	0.33	0.24	0.57	42
LM11-114	209.63	210.65	1.02	0.55	1.51	2.06	73
LM11-114	219.81	222.02	2.21	0.56	0.30	0.86	35
LM11-115	142.72	144.66	1.94	0.67	0.51	1.18	43
LM11-115	153.24	154.45	1.21	0.59	0.44	1.03	42
LM11-116	126.24	128.75	2.51	0.52	0.22	0.74	30
LM11-116	132.31	133.76	1.45	0.42	0.11	0.53	21
LM11-116	151.53	156.8	2.79	0.28	0.34	0.62	55
LM11-116	161	162.5	1.5	0.32	0.32	0.64	49
LM11-116	173.9	175.6	1.7	0.46	0.38	0.84	45
LM11-117	217.62	236.55	5.71	0.27	0.37	0.65	58
LM11-117	249.95	255.75	3.85	0.39	0.17	0.56	30
LM11-118	94.98	96.04	1.06	0.63	0.24	0.88	28
LM11-118	144.68	146.77	2.09	0.33	0.23	0.56	41
LM11-119	191.1	193.5	2.4	0.26	0.10	0.36	28
LM11-119	258.74	261.26	2.52	0.29	0.15	0.44	34
LM11-119	268.24	270.5	2.26	0.34	0.15	0.49	32
LM11-120	178	179.93	1.93	0.49	0.26	0.75	35
LM11-121	215.57	217.63	2.06	0.31	0.21	0.52	40
LM11-121	222.46	225.35	2.89	0.43	0.34	0.77	44
LM11-122	55.16	56.5	1.34	0.33	0.30	0.63	47
LM11-122	80.07	82.17	2.1	0.26	0.28	0.54	52
LM11-122	86.12	87.69	1.57	0.41	0.40	0.81	49
LM11-123	82.47	85.69	3.22	0.37	0.32	0.68	46
LM11-123	96.75	99.62	2.87	0.18	0.21	0.40	53
LM11-123	123.07	126.43	3.36	0.62	0.47	1.09	43
LM11-124	112.1	113.81	1.71	0.26	0.19	0.46	43
LM11-124	129.4	132.88	3.48	0.39	0.28	0.67	42
LM11-125	180.83	182.17	1.34	0.29	0.16	0.44	35
LM11-125	184.42	186.69	2.27	0.48	0.56	1.04	53
LM11-125	203.59	205.79	2.2	0.38	0.30	0.68	44
LM11-126	86.52	88.42	1.9	0.99	0.36	1.36	27
LM11-126	96.15	99.54	3.3	0.62	0.28	0.90	31
LM11-127	161.35	162.91	1.56	1.60	1.47	3.07	48
LM11-127	197.78	199.54	1.76	1.37	0.70	2.06	34
LM11-127	228.67	234.23	2.67	0.35	0.16	0.51	31
LM11-128	151.46	161.13	4.94	0.42	0.29	0.71	41
LM11-128	162.84	165.85	3.01	0.56	0.28	0.84	33
LM11-128	175.13	193.88	3.05	0.73	0.32	1.05	31
LM11-129	268.9	271.66	2.76	1.07	0.55	1.62	34
LM11-129	319.94	321.2	1.86	1.57	0.64	2.22	29

• LREO = Light rare earth elements: La, Ce, Pr, Nd, and Sm as oxide
• HREO = Heavy rare earth elements: Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu, and Y as oxide
• TREO = Total rare earth oxides: LREO + HREO
• Totals may not equal due to rounding
• Major contributing rare earth oxides to LREO and TREO: La2O3, Ce2O3, Nd2O3
• Major contributing rare earth oxides to HREO: Dy2O3, Gd2O3, Y2O3

"The completion and analysis of the 2011 drill program is another significant milestone for Ucore," said Jim McKenzie, President and CEO of the Company. "The 2011 drill program is remarkable for being the most ambitious to date, generating more linear metres of core during one season than in all of the previous drill seasons combined. The sheer size of the 2011 program clearly demonstrates that Ucore is rapidly increasing the scale and intensity of its development activities at Bokan. What's more, the rare earth grades obtained this year surpass all prior years, with several intercepts ranging from 2-3% TREO. The total core volume generated this year has been more than sufficient to upgrade the bulk of the existing resource from Inferred to Indicated under NI 43-101 guidelines, as the Company counts down to the release of a Preliminary Economic Assessment in the near future."

The 2011 exploration program confirmed the integrity and continuity of the Dotson Zone. The zone has a strike length of more than 2,000 metres, with an average width of 50 metres, and contains at least 24 high-grade mineralized veins or vein-arrays. The zone remains open both at depth and on strike. 2011 drill results show that there are multiple wide and high grade intersections within the steeper holes, indicating that the already high grade mineralization is apparently strengthening at depth. The results both reinforce and augment the historical U.S. Bureau of Mines resource estimate and geological model for the area (Warner & Barker; USBM OFR 33-89). The USBM model inferred persistent rare earth mineralization in the subject zone both along the strike and at the depth, in combination with anomalously high ratios of heavy to total rare earth elements.

In addition to standard diamond drilling, the 2011 field program included the generation of numerous bulk surface samples. These bulk samples are serving as input material for plant-scale metallurgical and innovative X-ray transmission ore sorting testwork being conducted at Hazen Research Inc. of Golden Colorado and Commodas Ultrasort of Hamburg Germany, respectively (see Ucore press release "Ucore XRT Testing Shows Prospective Doubling of Mill Feed Grade" Oct 31, 2011). The 2011 field program additionally included comprehensive environmental baseline testing, as well as desktop engineering studies, as a prelude to mine planning and development commencing in 2012. Beyond the central exploration targets at Dotson Ridge, Ucore exploration geologists conducted surface work at several Bokan-area REE occurrences in 2011, using prior USBM studies as a means of generating outbound targets.

NI 43-101 Compliance
The diamond drill core was split on site, with half the core transported by commercial carriers to the Activation Laboratories analytical facility in Stewart, B.C., Canada and analyzed at their labs in Ancaster, Ontario. Check assay samples were submitted to ALS Laboratories in Anchorage, Alaska, USA and analyzed at ALS Laboratories in Vancouver, B.C. Sample containers were sealed and chain of custody was maintained throughout the transport. The QA/QC program included the insertion of certified standards, blanks and duplicates in the submitted sample shipment; and laboratory insertion and analysis of standards and blanks, duplicates and re-splits. Analyses were made by inductively-coupled plasma mass spectrometry with lithium metaborate fusion, reporting whole rock analyses as an additional quality control measure. Reported values are length-weighted averages from multiple samples. All widths reported are core intercepts and do not reflect true width of the mineralized structure. Jim Robinson, P.Geo. (NWT), an independent geologist with Aurora Geosciences, has prepared the technical data relative to the drill assays provided herein and is the qualified person responsible for their accuracy.

Background
Ucore Rare Metals Inc. is a well-funded junior exploration company focused on establishing REE, uranium and other rare metal resources through exploration and property acquisition. With multiple projects across North America, Ucore's primary focus is the 100% owned Bokan - Dotson ridge REE property in Alaska. The Bokan - Dotson ridge REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in expediting mine production and limiting the capital costs associated with mine construction.

The Bokan properties are located in an area reserved for sustainable resource development with an existing road network providing access to the main target areas. REE mineralization at the Bokan-Dotson ridge project occurs in a well-demarcated vein system related to a Mesozoic Bokan peralkaline granitic complex. However, a number of other occurrences of REE mineralization are also located within, or at the margins of the complex. Viewed in a geological and geophysical context, the Bokan complex is a distinctive circular structure and is highly prospective for rare earth deposits.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

Contact Information

Ucore Rare Metals Inc.
Mr. Jim McKenzie
President and Chief Executive Officer
(902) 482-5214
www.ucore.com

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HIV-AIDS Testing Market to Explode to $4.4 Billion by 2016

SOURCE: TriMarkPublications.com

January 11, 2012 13:00 ET

NEW YORK, NY--(Marketwire - Jan 11, 2012) - TriMarkPublications.com cites in its newly published "HIV-AIDS Testing Markets" report that the global HIV-AIDS testing market is forecasted to catapult to $4.4 billion by 2016. For more information, visit: www.trimarkpublications.com/hiv-aids-testing-markets.

HIV-AIDS testing can be categorized into six main modalities: predictive, screening, prognostic, monitoring, pharmacogenomic and theranostic. There are an estimated 33.3 million people living with HIV worldwide and approximately 2.6 million people are newly infected each year. Although the Asian and African regions account for more than 90% of the HIV-infected population, the U.S. and European regions make up greater than 60% of the HIV testing market.

The "HIV-AIDS Testing Markets" report covers:

• Enzyme-Linked Immunosorbent Assay (ELISA)
• Antibody/p24 Antigen Test (Fourth-Generation Test)
• Western Blot Assay
• Line Immunoassays
• Indirect Fluorescent Antibody (IFA) Assay
• Nucleic Acid Tests for Infectious Diseases
• Emerging Technologies

The "HIV-AIDS Testing Markets" report examines companies manufacturing HIV/AIDS testing equipment and supplies in the world. Companies covered include: Abbott, Alere, Ani, Avioq, Bio-Rad, bioLytical, Biomedical, bioMerieux, Bioner, Chembio, Core, EY, Gen-Probe, Green Cross, Immunoscience, InTec, J Mitra, Maxim, MedMira, Oral Collection Devices, OraSure, Orgenics, Ortho-Clinical, Premier, Qiagen, Qualpro, Roche, Savyon, Shanghai Kehua, Siemens, Span, Standard and Trinity.

Detailed charts with sales forecasts and marketshare data are included. For more information, visit: www.trimarkpublications.com/hiv-aids-testing-markets.

About TriMarkPublications.com
TriMarkPublications.com is a global leader in the biotechnology, healthcare and life sciences market research publishing. For more information, please visit http://www.trimarkpublications.com.
Important Notice
The statements contained in this news release that are forward-looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially.

Contact Information

Contact

TriMarkPublications.com
Media Relations
1-888-OK-TRIMARK
www.trimarkpublications.com

Related articles

• Global HIV/AIDS Testing Market to Exceed US$3.5 Billion by 2015, According to a New Report by Global Industry Analysts, Inc. (prweb.com)

Brigus Gold Corp Reports Additional High-Grade Gold Assays from the 147 Zone

Wednesday Jan 11, 2012 by Business Wire

 

Brigus Gold Corp. ("Brigus" or the "Company") (NYSE Amex: BRD)(TSX: BRD) is pleased to announce that exploration drilling on the southern portion of the Black Fox Complex continues to return high-grade gold assays from the 147 Zone.
The following table includes highlights from the drill holes reported today from the 147 Zone (all uncut, average gold grades over core length widths):

Hole Number  Core Width    Gold Assay
                  (m)          (gpt)
              ----------    ----------
  GF11-239       5.35          13.72
-----------   ----------    ----------
  including      1.00          45.53
-----------   ----------    ----------
                 5.00          3.15
              ----------    ----------
  GF11-249       3.59          5.14
-----------   ----------    ----------
  including      0.50          13.92
-----------   ----------    ----------
                 18.00         11.89
              ----------    ----------
  including      3.00          3.36
-----------   ----------    ----------
     and         6.00          33.57
-----------   ----------    ----------
     and         3.00          63.54
-----------   ----------    ----------
  GF11-253       12.00         5.39
-----------   ----------    ----------
  including      0.55          46.49
-----------   ----------    ----------
  GF11-263       10.00         8.75
-----------   ----------    ----------
  including      1.00          18.10
-----------   ----------    ----------
     and         5.00          13.12
-----------   ----------    ----------
  GF11-266       11.00         3.52
-----------   ----------    ----------
  including      4.00          7.29
-----------   ----------    ----------
  GF11-280       39.40         4.41
-----------   ----------    ----------
  including      1.00          10.22
-----------   ----------    ----------
     and         16.65         6.55
-----------   ----------    ----------
     and         6.00          11.78
-----------   ----------    ----------
     and         8.00          5.73
-----------   ----------    ----------

"We are very pleased to receive additional high grade drill results over thick intervals," said Howard Bird, Brigus' Vice President of Exploration. "These excellent results expand the 147 Zone and will positively impact the size of the current gold resource."

The independent initial NI 43-101 resource estimate for the 147 and Contact zones, as released in December 2011, added more than 50 percent to the gold resource at the Black Fox Complex. The ongoing drill program continues to successfully increase the size of the gold resource through step-out drilling and is also designed to convert Inferred ounces to Indicated ounces through systematic in-fill drilling. An updated resource estimate will be released mid-year 2012.

The 147 and Contact zones provide Brigus with near term production growth opportunities because of their proximity to the Black Fox mine infrastructure.

Brigus is continuing its exploration program in 2012 through an $8.0 million surface exploration program focused on expanding the 147 and Contact zones as well as other high potential zones on the Black Fox Complex. Currently, there are four drill rigs in operation on the property.

The Black Fox Complex covers an area of approximately 18 square kilometres within the Timmins Mining District, Ontario. The core area of the 147 Zone extends for approximately 250 m in a north-south direction dipping at approximately 80 degrees to the east. Gold mineralization primarily occurs within multiple quartz carbonate brecciated zones within bleached units of variolitic mafic volcanics and other parallel footwall zones.

Details of the most recent 147 Zone drill holes and the 147 Zone drill-hole location map can be found on the Company's website at www.brigusgold.com.

Surface drilling was conducted by Norex Drilling and was supervised by the Brigus exploration team. All sample analyses reported herein were performed by Polymet Labs of Cobalt, Ontario, which is ISO 9001:2000 certified in North America using standard fire assay procedures. Intercepts cited do not necessarily represent true widths, unless otherwise noted. Brigus Gold's quality control checks include insertion of blanks, standards and duplicates to ensure laboratory accuracy. Senior Exploration Project Manager John A. Dixon, P. Geo., reviewed the technical exploration information in this release as the Qualified Person for the Company.

About Brigus
Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The Company operates the wholly owned Black Fox Mine and Mill in the Timmins Gold District of Ontario, Canada. The Black Fox Complex encompasses the Black Fox Mine and adjoining properties in the Township of Black River-Matheson, Ontario, Canada. Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus Gold has completed its transaction to sell a 75% interest in the Ixhuatan Project located in the state of Chiapas to Cangold. In the Dominican Republic, Brigus has signed an agreement to sell its remaining interests in three mineral exploration projects.

Cautionary and Forward-Looking Statements
Statements in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All statements regarding the Company's ability to successfully expand the Black Fox Complex gold resource, add to Black Fox resources, advance new discoveries to production, convert resource estimates into near-term production, release of an updated mineral resource estimate in 2012 and the Black Fox underground mine exploration drilling program and continue to obtain positive down dip continuity of significant gold mineralization are forward-looking statements and estimates that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from these forward-looking statements include environmental risks and other factors disclosed under the heading "Risk Factors" in Brigus Gold's most recent Annual Information Form and Management Discussion and Analysis filed under the company's name at www.sedar.com and annual report on Form 40-F filed with the United States Securities and Exchange Commission at www.sec.gov and elsewhere in Brigus Gold's documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex, the United States Securities and Exchange Commission and other regulatory authorities. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

SOURCE: Brigus Gold Corp.

Brigus Gold Corp. 
Jennifer Nicholson, CA, 902-422-1421 
Executive Vice President 
jnicholson@brigusgold.com 
or 
Katherine Burgess, 902-422-1421 
Manager, Stakeholder Relations 
kburgess@brigusgold.com

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Talison Lithium releases 2nd quarter sales volumes

Talison Lithium Announces Preliminary Second Quarter 2012 Sales Volume

Perth, Western Australia, January 12, 2012 – Talison Lithium Limited (“Talison” or the “Company”) (TSX: TLH | US: TLTHF) today announced its preliminary sales volume and production results for the three months ended December 31, 2011 (“Q2 FY2012”).  The Company also provided an update on its growth projects encompassing its Australian capacity expansion, lithium minerals conversion plant and Salares 7 brine project.

Preliminary Results

Talison sold 75,221 tonnes lithium concentrate during Q2 FY2012 (or approximately 11,200 tonnes lithium carbonate equivalent (“LCE”)). Sales in the quarter were affected by significant congestion at the Port of Bunbury due to berth closures and unplanned Port shutdowns impacting all Port users. This resulted in approximately 38,000 tonnes of Talison’s lithium concentrate sales that were ready at the Port for shipment in early December being delayed into January 2012. These shipments have now departed and will be included in Q3 FY2012 sales. Sales for the 2012 fiscal year are not expected to be affected.

For the six months ended December 31, 2011 Talison sold 155,536 tonnes of lithium concentrate (approximately 23,100 tonnes LCE), a 4% increase compared to the six months ended December 31, 2010.

Q2 FY2012 production was 89,015 tonnes lithium concentrate (approximately 13,200 tonnes LCE), a 7% increase compared to Q2 FY2011.  For the six months ended December 31, 2011, Talison produced 179,723 tonnes of lithium concentrate (approximately 26,700 tonnes LCE), a 9% increase compared to the six months ended December 31, 2010.

Growth Projects

Greenbushes Stage 2 Expansion On Schedule and On Budget

The Stage 2 Expansion at the Greenbushes Lithium Operations continues to proceed on schedule and on budget.  Foundations for the new chemical-grade plant are complete, installation of steel-work is continuing and the conveyer belt to the finished product stockpile is being constructed.

The Company continues to expect commissioning of the Stage 2 Expansion during Q4 FY2012.  Upon completion, the Stage 2 Expansion will double Talison’s current production capacity to approximately 740,000 tonnes per annum lithium concentrate (approximately 110,000 tonnes per annum LCE).

Work on the new chemical-grade plant as part of the Stage 2 Expansion at the Greenbushes Lithium Operations

Conveyer belt to finished product stockpile being constructed as part of the Stage 2 Expansion at the Greenbushes Lithium Operations

Proposed Minerals Conversion Plant

Responding to growing global demand for an additional secure supply of lithium chemicals, particularly from electric vehicle battery manufacturers, Talison is aggressively pursuing its proposed plant to convert lithium minerals into lithium carbonate (“Minerals Conversion Plant”).

Commencing in early calendar 2012, the next phase of the project includes a detailed engineering study of a 20,000 tonnes per annum lithium carbonate plant located in Western Australia. Talison is targeting commissioning in FY2015 and anticipates making an investment decision on the project by the end of calendar 2012.

Discussions with potential customers for the Minerals Conversion Plant are continuing positively. To accelerate the formation of customer relationships in Japan, Talison recently signed a Memorandum of Understanding with Sojitz Corporation to discuss on a non-exclusive basis collaborative marketing and distribution opportunities of lithium carbonate produced by Talison to customers in Japan.

Greenbushes Resource Development and Salares 7 Project

Talison is accelerating resource definition drilling at the Greenbushes Lithium Operations due to the encouraging progress to date in the development of the Minerals Conversion Plant.

The objective of accelerating the drilling is to increase lithium mineral reserves and extend the mine life at Greenbushes to support future additional expansions of the lithium concentrate processing plants and a potential doubling in capacity of the Minerals Conversion Plant.

Consequently Talison is reallocating resources in H2 FY2012 from the Salares 7 Project to the drilling at Greenbushes. The drilling program at the Salares 7 Project will be deferred and the focus will be on the environmental approvals process. This is not anticipated to affect the overall development timetable for the Salares 7 Project.

Financial Results Release February

Talison will release its financial results for Q2 FY2012 in mid-February, 2012.

Peter Oliver, Chief Executive Officer and Managing Director of Talison will host a conference call to discuss the results.

Teleconference and replay call details will be distributed prior to the release of financial results.

To view this entire press release please visit:
http://www.talisonlithium.com/investor-centre/news

 About Talison Lithium

Talison Lithium Ltd. (TSX: TLH | US: TLTHF ) is a leading global producer of lithium with projects in Western Australia and Chile. 

The  Company’s principal objective is to grow shareholder value by meeting the anticipated future growth in demand for lithium. The lithium produced by Talison Lithium is used in batteries for consumer electronics, electric bicycles, buses and passenger vehicles. It is also used in aerospace alloys, wind turbines, glass and ceramics.
Talison Lithium is committed to pursuing sustainable development in all aspects of its operations to ensure, wherever possible, that the Company can meet demand for lithium without compromising the needs of future generations.
The Greenbushes ore body is a highly mineralised zoned pegmatite with a strike length of more than 3km. The Greenbushes Lithium Operations Mineral Reserve is unique among known lithium deposits in that it contains approximately 50% spodumene.

The Greenbushes Lithium Operations have two processing plants located at the mining operations. One plant produces technical-grade lithium concentrates, the other produces chemical-grade lithium concentrate.
In September 2010, Talison Lithium merged with Salares Lithium Inc which gave it exposure to prospective lithium brine projects in Chile.

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San Gold sets new production record in 4th Quarter!

TSX : SGR
Nasdaq - OTCQX : SGRCF

January 10, 2012 06:00 ET

San Gold achieves Record Production in Q4 2011

WINNIPEG, MANITOBA--(Marketwire - Jan. 10, 2012) - San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced preliminary results of operations at its Rice Lake Mining Complex in Manitoba, Canada for the quarter ended December 31, 2011.
Q4 Production Highlights

• Record gold production of 20,359 ounces with additional 4,000 to 5,000 in surface ore stockpile.
• December production of 8,388 ounces annualized supports 100,000 ounce guidance for 2012.
• Milling and crushing initiatives completed to upgrade mill capacity to 2,000 tons per day.
• Exploration results issued in December continue to demonstrate the tremendous potential of our new mine trends.

Fourth Quarter 2011 Preliminary Operating Results
San Gold produced a record 20,359 ounces of gold in the fourth quarter with approximately 25,400 tons of ore in the surface stockpiles representing an additional 4,000 to 5,000 ounces of gold in front of the mill.
During December the operation established a new daily mill record of 2,056 tons per day, with an average throughput of 1,775 tons per day. The operation began the year at an average production rate of 829 tons per day.

"This has been a tremendous year for our production team at Rice Lake. We've executed a very aggressive development plan, increasing our milling capacity by two-thirds while building out an extensive mine complex along a new mining horizon. We are well positioned going into 2012 and will continue to aggressively pursue new opportunities as they emerge," said San Gold President and Chief Executive Officer George Pirie.

There were two planned events during the fourth quarter that resulted in lost milling opportunities. In the first two weeks of October, throughput rates in the flotation circuit were reduced while the second bank of new flotation cells was commissioned. In November, three milling days were lost due to the commissioning of the new screening plant and the relocation of the three stage crushing circuit. No upgrades that will affect mill throughput are planned through the first half of 2012.

Total gold production for 2011 was 74,280 ounces with 4,000 to 5,000 in surface stockpiles accumulated during the year, effectively meeting our full year guidance of 80,000 ounces. On an annualized basis, December production supports our 100,000 ounce production forecast for 2012.

About San Gold
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba. The Company employs more than 400 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
For further information on San Gold, please visit www.sangold.ca.

Cautionary Note
This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of precious metals, as well as those factors discussed in the section entitled "Other MD&A Requirements and Additional Disclosure and Risk Factors" in the Company's most recent quarterly Management's Analysis and Discussion ("MD&A"). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such 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.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.

The TSX and the OTCQX exchanges have not reviewed and do not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

• 
  
  San Gold Corporation
  Tim Friesen
  Communications Director
  1 (204) 772-9149 ext. 202
  
  San Gold Corporation
  George Pirie
  President and CEO
  1 (416) 214-0024
  www.sangold.ca
  
  TD Securities ACTION Notes today:
  San Gold Corp. (SGR-T) C$2.00 ....
  BUY (Unchanged);Target: C$3.50 (Unchanged)
  Poised to Deliver

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