VANCOUVER, Aug. 4, 2016 /CNW/ - NewCastle Gold
Ltd. (NCA:TSX-V) (the "Company" or "NewCastle") is
pleased to announce the appointment of Susan Muir as Vice President Investor Relations
and Corporate Communications effective August 8, 2016. Susan is a seasoned investor
relations executive, and was most recently Vice President, Investor
Communications at Barrick Gold Corporation following a series of
increasingly senior roles since 2007. Prior to Barrick, Susan also
has 25 years of experience analyzing and covering large and small
cap precious metals equities, respectively, for several major
Canadian investment banks.
Richard Warke, the Company's
Executive Chairman commented, "We are very pleased to have
someone of Susan's calibre join our team. Susan is well known in
the mining investment community and will greatly assist us in
communicating our strategy and future plans at this critical time
in our development."
Susan holds a Bachelor of Arts from Concordia University and will be based in
Toronto.
About NewCastle
NewCastle has 100% of the
right, title and beneficial interest in and to the Castle Mountain
Venture, a California general
partnership, which owns the Castle Mountain property (the
"Project") in San Bernardino County,
California. The Castle Mountain heap leach gold mine
produced over one million ounces of gold from 1992 to 2001, when
mining was suspended due to low gold prices. The Mine and
Reclamation Plan, under which the mine operated, was authorized by
the County of San Bernardino as
the Lead Agency and remains in effect. Water for the drill programs
was accessed from existing patented wells on the Project.
An updated NI 43-101 resource for the Project was announced
December 2, 2015 which includes
Measured Mineral Resources of 17.4 million tonnes grading 0.86 g/t
gold containing 0.48 million gold ounces, Indicated Mineral
Resources of 202.5 million tonnes grading 0.57 g/t gold containing
3.71 million gold ounces along with Inferred Mineral Resources of
40.8 million tonnes grading 0.58 g/t gold containing 0.76 million
gold ounces. The Project hosts a disseminated low sulphidation
epithermal system. Gold is primarily hosted by late-stage rhyolite
volcanic units within zones of silicification and brecciation
associated with northeast-southwest trending/southeast dipping
fault structures which are interpreted to have developed within a
collapsed caldera environment. Eleven gold domains are represented
by both steep and shallow-dipping orientations.
Ian R. Cunningham-Dunlop, P.
Eng., the Company's Vice President Exploration, is the designated
Qualified Person for this news release within the meaning of NI
43-101. He has reviewed and verified that the technical information
contained in this release is accurate and has approved of the
written disclosure of the same.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Forward-Looking Statements
This news release contains "forward-looking statements" and
"forward-looking information" (collectively, "forward-looking
information") within the meaning of applicable Canadian securities
legislation. Forward-looking information is not, and cannot
be, a guarantee of future results or events.
Forward-looking information is based on, among other things,
opinions, assumptions, estimates and analyses that, while
considered reasonable by us at the date the forward-looking
information is provided, inherently are subject to significant
risks, uncertainties, contingencies and other factors that may
cause actual results and events to be materially different from
those expressed or implied by the forward-looking information. The
material factors or assumptions that we identified and were applied
by us in drawing conclusions or making forecasts or projections set
out in the forward looking information include, but are not limited
to that the Company is able to procure personnel, equipment and
supplies required for its exploration and development activities in
sufficient quantities and on a timely basis and that actual results
will be consistent with management's expectations.
The risks, uncertainties, contingencies and other factors that
may cause actual results to differ materially from those expressed
or implied by the forward-looking information may include, but are
not limited to, the risks discussed under the heading "Risks" in
general to the business of NewCastle in documents filed (or to be filed)
with Canadian regulatory authorities. Should one or more risk,
uncertainty, contingency or other factor materialize or should any
factor or assumption prove incorrect, actual results could vary
materially from those expressed or implied in the forward-looking
information. Accordingly, the reader should not place undue
reliance on forward-looking information. NewCastle does not assume any obligation to
update or revise any forward-looking information after the date of
this news release or to explain any material difference between
subsequent actual events and any forward-looking information,
except as required by applicable law. Readers should refer to the
Company's Annual Information Form and Management Discussion and
Analysis for the year ended December 31,
2015 as well as the Company's most recent Management
Discussion and Analysis, available on www.sedar.com.
SOURCE NewCastle Gold Ltd.