CGD Carlin Gold Corporation

Carlin Gold Corporation (TSX VENTURE:CGD) ("Carlin" or the "Company") is pleased
to announce the appointment of two new directors to the Company's board of
directors, following the closing of last week's $2.68 million private placement
with Electrum Gold Exploration LLC ("Electrum"). Under the terms of its
agreement unit purchase agreement, Electrum had the right to designate two
directors on the Company's board of directors. They are Mr. Kenneth Rye of
Denver, Colorado and Mr. Jay Sujir of Vancouver. 


Mr. Kenneth Rye is currently Managing Director for Global Evaluations for The
Electrum Group LLC, which he joined in 2008. He has extensive experience in both
the mineral exploration and financial advisory areas. His 25 plus years in the
mining industry have included tenures with major gold producers including
Homestake Mining Company, International Corona Corporation and Giant
Yellowknife/Pamorex Minerals. Mr. Rye holds a B.Sc. in Earth Science from the
University of Waterloo, an M.Sc. in Geology from the University of Western
Ontario and an MBA from St. Mary's College of California.


Mr. Jay Sujir is a partner of the law firm of Anfield Sujir Kennedy and Durno
LLP of Vancouver, specializing in corporate finance and securities law. Mr.
Sujir was called to the Bar of British Columbia in 1986 after receiving a
Bachelor of Laws degree in 1985 and Bachelor of Arts (Economics and Philosophy)
degree in 1981, both from the University of Victoria.


Mr. K. Wayne Livingstone, president of the Company, commented: "Carlin Gold is
very fortunate to be able to add such exceptional technical and corporate
expertise to its board, with the addition of Mr. Rye and Mr. Sujir."


The Company also announces the issuance of an aggregate of 400,000 stock options
to purchase 400,000 shares of the Company at an exercise price of $0.125 cents
per share, expiring July 30, 2017. The stock options are being issued to Mr. Rye
and Mr. Sujir and are subject to approval by regulatory authorities. 


About Carlin

Carlin is a junior resource company focused on gold exploration. The Company
owns a 100% interest in three mineral properties in Nevada, U.S.A., all of which
represent Carlin-type gold targets. The Company has an approved drilling permit
for 24 drill sites on its Cortez Summit property, and it plans to begin drilling
in August 2012.


The Cortez Summit property consists of 142 claims located on the Cortez Trend in
Nevada, adjacent to Barrick's recently announced gold discoveries, Red Hill and
Gold Rush and the past producing Horse Canyon and Buckhorn gold deposits. The
Cortez Trend contains a major gold endowment that exceeds 40 million ounces
total gold produced, reserves and resources. Production in 2011 at Barrick's
Cortez district operations has been reported to be 1.42 million ounces of gold.


Company geologists believe that the geological environment at Cortez Summit is
similar to Barrick's nearby Carlin-type deposits. The Devonian-age Horse Canyon
and Wenban Formations are thought to potentially underlie the property at
shallow to moderate depths. Portions of these two units host much of the gold
resources in the district, including at Cortez Hills and Red Hill-Goldrush.
Sampling along a prominent north-northwest trending structural zone on the west
side of Cortez Summit has yielded gold values of 447 and 263 ppb in
hydrothermally altered Horse Canyon rocks. This is part of an attractive
untested structural and stratigraphic target in the southwest part of the
property that will be the focus of the Company's initial drilling program. Much
of this target is blind, being covered by post-mineral gravel and basaltic
andesite. The Company conducted a gravity survey to obtain information from the
target terrain underneath the cover. The survey was successful in defining
potentially favorable structures, which represent drill targets.


Carlin also owns two other exploration properties in Nevada and a 50% joint
venture interest in 3,960 mineral claims in Yukon, Canada.


K. Wayne Livingstone, President and Chief Executive Officer

Note:

Robert Thomas, CPG, Vice President of Carlin and a qualified person as defined
by Canadian National Instrument 43-101, has reviewed and approved the technical
information contained in this news release on behalf of Carlin.


Forward looking statements: This news release includes certain "forward-looking
information within the meaning of Canadian securities legislation and
"forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (collectively "forward looking
statements")." Forward-looking statements include predictions, projections and
forecasts and are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect",
"potential", "project", "target", "schedule", budget" and "intend" and
statements that an event or result "may", "will", "should", "could" or "might"
occur or be achieved and other similar expressions and includes the negatives
thereof. All statements other than statements of historical fact included in
this release are forward-looking statements 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. 


Forward-looking statements are based on a number of material factors and
assumptions. Important factors that could cause actual results to differ
materially from Carlin's expectations include availability of capital and
financing in connection with future private placement, regulatory approval,
actual exploration results, changes in project parameters as plans continue to
be refined, results of future resource estimates, future metal prices,
availability of capital and financing on acceptable terms, general economic,
market or business conditions, uninsured risks, regulatory changes, defects in
title, availability of personnel, materials and equipment on a timely basis,
accidents or equipment breakdowns, delays in receiving government approvals,
unanticipated environmental impacts on operations and costs to remedy same, and
other exploration or other risks detailed herein and from time to time in the
filings made by the Company with securities regulators. Although the Company has
attempted to identify important factors that could cause actual actions, events
or results to differ from those described in forward-looking statements, there
may be other factors that cause such actions, events or results to differ
materially from those anticipated. There can be no assurance that
forward-looking statements will prove to be accurate and accordingly readers are
cautioned not to place undue reliance on forward-looking statements.

Carlin Gold (TSXV:CGD)
Historical Stock Chart
From Nov 2024 to Dec 2024

Carlin Gold (TSXV:CGD)
Historical Stock Chart
From Dec 2023 to Dec 2024