2012-09-19 00:17:29 -
Vancouver, British Columbia, September 18, 2012. Prodigy Gold Incorporated ("Prodigy", "Prodigy Gold", "the Company") is pleased to announce that it held its Annual General Meeting ("AGM") on September 14, 2012 and the following persons were elected to the Board of Directors: Michael Phelps, Thomas Barber, Robert Harrington, Tom Mullan, Brian Maher, Dave Richardson, George Salamis and David Watkins.
About Prodigy Gold: Prodigy Gold Inc. (PDG: TSX.V) is currently evaluating the development of the Magino mine gold project in Ontario as an open-pit mining opportunity with the potential for deeper, higher grade gold production. The Magino project contains Indicated gold resources of 5,809,000 ounces grading 0.89 gpt gold (203.0 million tonnes), and 300,000 ounces of Inferred gold resources grading 0.91 gpt
gold (10.3 million tonnes) at a cut off grade of 0.35 gpt gold. Included within this resource estimate is a higher grade zone consisting of 5,033,000 ounces grading 1.06 gpt gold (147.7 million tonnes) of Indicated resource and 255,000 ounces of Inferred gold resources grading 1.16 gpt gold (6.8 million tonnes). Please see the Prodigy Gold press release dated August 20, 2012, for more details. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves.
A Prefeasibility Study for the proposed open pit mining project at Magino is scheduled for completion early in 2013. Bringing the Magino mine project through the feasibility process and towards production is a catalyst for growing Prodigy Gold and building substantial value for Prodigy shareholders: Today's Discovery, Tomorrow's Future.
All scientific and technical information for the Magino project has been reviewed and approved by Tom Pollock, P.Geo., Prodigy Gold's Vice President - Exploration, who is a qualified person under the definitions established by National Instrument 43-101.
On behalf of the Board of Directors
Brian J. Maher
President, Chief Executive Officer and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Prodigy Gold Incorporated
tel.: 1-604-688-9006 Fax: 1-604-688-9029
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the Magino mine property and other future plans, objectives or expectations of Prodigy Gold Incorporated (the "Company") 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. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. Neither 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.
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