VANCOUVER,
July 15, 2013 /CNW/ - In connection
with the press release issued by Colossus Minerals Inc.
("Colossus") on July 15, 2013 related
to development at its Serra Pelada mine, Sandstorm Metals &
Energy Ltd. ("Sandstorm Metals" or the "Company") has provided an
update for its shareholders.
Colossus has encountered challenges with
dewatering wells and pumps in the Central Mineralized Zone at Serra
Pelada which requires additional dewatering capacity and has
delayed gold production. Colossus is continuing its decline
development to have multiple horizons ready for mining in 2014 and
has made progress in the construction of its process plant.
The delay in gold production at Serra Pelada is
not currently anticipated to affect the development timeline for
the platinum/palladium flotation circuit, which is expected to be
processing material in late 2014. Sandstorm Metals has a palladium
stream agreement with Colossus to purchase 35% of the palladium
produced from Serra Pelada at a per ounce price of US$100.
ABOUT SANDSTORM METALS & ENERGY
Sandstorm Metals & Energy Ltd. is the
world's first diversified streaming company. Sandstorm provides
upfront financing to resource companies that are looking for
capital and in return, receives a commodity streaming agreement.
This agreement gives Sandstorm the right to purchase a percentage
of the commodity produced, for the life of the asset, at a fixed
price. Sandstorm has acquired a portfolio of four commodity streams
in copper, palladium and natural gas. Sandstorm plans to grow its
production base through the acquisition of additional commodity
streams.
Sandstorm Metals & Energy is focused on low
cost operations with excellent exploration potential and strong
management teams. Sandstorm has completed royalty and commodity
purchase agreements with Canadian Zinc Corp., Colossus Minerals
Inc., Donner Metals Ltd., Entrée Gold Inc. and Thunderbird Energy
Corp.
For more information visit:
www.sandstormmetalsandenergy.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Except for the statements of historical fact
contained herein, the information presented constitutes
"forward-looking information" or "forward-looking statements"
within the meaning of applicable Canadian securities legislation.
Forward-looking statements can generally be identified by the use
of forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans",
or similar terminology. Forward-looking information is based on
reasonable assumptions that have been made by Sandstorm as at the
date of such information and is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Sandstorm to be
materially different from those expressed or implied by the
forward-looking information, including but not limited to: the
impact of general business and economic conditions; the absence of
control over operations from which Sandstorm will purchase
commodities and risks related to those operations, including risks
related to international operations, government and environmental
regulation, actual results of current exploration activities,
conclusions of economic evaluations and changes in project
parameters as plans continue to be refined; problems inherent to
the marketability of commodities; industry conditions, including
fluctuations in the price of commodities, fluctuations in foreign
exchange rates and fluctuations in interest rates; stock market
volatility; competition; as well as those factors discussed in the
section entitled "Risks to Sandstorm" in Sandstorm's annual report
for the financial year ended December 31,
2012. Although Sandstorm has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. Sandstorm does not undertake to update
any forward-looking information that is contained or incorporated
by reference herein, except in accordance with applicable
securities laws. Sandstorm does not provide any representation as
to its comparability with other companies in its industry
including, but not limited to, Franco-Nevada Corporation, BHP
Billiton and Rio Tinto.
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 release.
SOURCE Sandstorm Metals & Energy Ltd.