New Carolin Gold Recieves 5-Year Exploration Permit and Engages Underground Project Geologist
April 12, 2017 - New Carolin Gold Corp. (the "Company") (TSXV: LAD) (OTCBB: LADFF) is pleased to announce that it has received a 5-year exploration permit from BC Ministry of Mines effective April 07, 2017. Receiving this important permit clears the path for the Company to complete underground preparation work at the Carolin Mine and execute on the planned Phase Two underground exploration work program. The Company also announces that it has engaged Mr. Jamie Pardy P.Geo. as project manager for the upcoming Phase Two underground work program. Jamie has 30 years' experience as a geologist, exploration manager, technical services manager, and acted in various capacities with the BC Ministry of Mines. Jamie was most recently employed for 6 years with Great Panther Silver as exploration & country manager in Peru. He was involved in assessing silver-gold and base-metal projects, geological modeling, resource estimation, underground development/drilling and financial modeling. Jamie also acted as technical services manager for Great Panther in Mexico, directing mine production, geology and exploration. Previously, he was exploration manager for Goldbrook Ventures for Ni-Cu-PGEs in Northern Quebec, prior to being acquired by China-based JJ Nickel. During his tenure with the BC Ministry of Mines Jamie acted as a regional / staff geologist, mines inspector and was Lima-based manager of the Peru Minerals and Metals Public Sector Assistance Program. He also worked as a regional planner and participated in and facilitated various multi-sector land use agreements and plans.
Operations Update
Field work has been delayed because of severe winter weather conditions and snow pack at the Carolin Mine. During the delay project management has been assessing project data which included data from 2016 drilling, surface sampling and underground sampling programs, and mapping, scans and surveys of the underground workings and stopes carried out in June and December of 2016. Additional work has also been done on 3D geological modeling in order to identify drill targets and underground stations for the upcoming Phase Two program. With weather now cooperating and the permit having been issued, the Company has scheduled a resumption of work on April 19, 2017.
Further announcements of work completed, work plans and schedules are forthcoming.
About New Carolin Gold Corp.
New Carolin Gold Corp. is a Canadian-based brownfields development company focused on the exploration, evaluation and development of our 100% owned property, consisting of 144 square kilometers of contiguous mineral claims and crown grants collectively known as the Ladner Gold Project. The Company is currently executing exploration programs on the property which is located 2 hours by freeway from Vancouver near Hope, British Columbia, in the prospective and under-explored Coquihalla Gold Belt. The Company has an existing mine permit, water licenses and tailings facility in place, as well as 10.5 kilometers of underground tunnels for exploration access. The Ladner Gold Project is host to several historic gold producers, including the Carolin Mine, Emancipation Mine, Arum Mine, Ward Mine, and Pipestem Mine, in addition to numerous artisan workings and gold prospects that typically exploit high grade visible gold mineralization.
For additional information, please visit the Company's website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Robert L. Thast"
President & Chief Executive Officer
Phone: 604.542.9458
Cell: 604.220.5031
E-mail: ceo@newcarolingold.com
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 the accuracy of this press release.
Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
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