NEW YORK, Nov. 2, 2011 (GLOBE NEWSWIRE) — Sagebrush Gold, Ltd. (OTCBB:SAGE.OB) and Continental Resources Group, Inc. (OTCBB:CRGC.OB) announced today that Sagebrush Gold has contracted a second drill rig at the Relief Canyon Mine Project, Pershing County, Nevada. The second drill rig was added to accelerate the Company’s previously announced exploration program at the Deep North Zone and expansion of current resources in, around and underneath the existing pits at Relief Canyon where current NI43-101 gold resources are hosted (see News Release dated October 5, 2011).
The Company has designed an initial, Phase 1 drill program to further test the North Deep Zone, consisting of 11 HQ diameter core holes ranging from 500 feet to 1500 ft. The total Phase One core program is planned for 14,300 feet of core to be drilled. The Company plans to conduct up to 18,000 feet of core drilling to test the North Deep target, located approximately ½ mile to the north of the existing resource at the Relief Canyon Mine. The objective of the drill program is to further test mineralized zones found by previous operators.
Following phase one, the Company plans to conduct a 10,000 ft drill program in and adjacent to the current in pit resource to expand and upgrade existing resources.
Company Chairman Barry Honig commented, “We are pleased to add an additional drill rig at Relief Canyon. As previously mentioned, Sagebrush Gold is committed to adding shareholder value through resource growth. By adding an additional drill rig and accelerating our drill campaigns, we hope to be able to accelerate this growth. The Company has added some of the resource industry’s top technical consultants to lead our exploration programs and assist Sagebrush Gold with our goal.”
The Relief Canyon Gold Project is located in Packard Flat, which is located in the Antelope Springs mining district, Pershing County, 15 miles Northeast of Lovelock Nevada and is a past producing gold mine. The Company acquired the Relief Canyon project on August 31, 2011 (see News Release dated August 31, 2011).
About Sagebrush Gold, Ltd.
Sagebrush Gold, Ltd. is a junior gold exploration company focused on searching for world class resources and seeking out potentially significant gold exploration and development targets in Nevada’s leading gold districts.
Legal Notice and Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words “believes,” “expects,” “given,” “targets,” “intends,” “anticipates,” “plans,” “projects,” “forecasts” or similar expressions, are “forward-looking statements.” Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others: general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; risks of junior exploration and pre-production activities; the Company’s ability to successfully integrate Continental Resources Group business and assets into its own existing business; maintenance of important business relationships. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s and Continental Resources Groups filings with the SEC including the Annual Reports of each of the companies on Form 10-K for the year ended December 31, 2010 and Quarterly Reports on Form 10-Q for the quarterly period ended June 30, 2011, and each subsequently filed Current Report on Form 8-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.
CONTACT: Sagebrush Gold, Ltd.
1640 Terrace Way
Walnut Creek, CA 94597
David Rector, President
877-705-9357
Barry Honig, Chairman
305-571-1000
Email: info@sagebrushgold.com
www.SagebrushGold.com