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Sacre-Coeur Minerals Arranges Equipment Sale to Riverside Resources: Aims at Development of Million Mountain Zone 1 Hardrock Resource for Production

31.07.2012  |  Business Wire

SACRE-COEUR MINERALS, LTD. (the 'Company?) announced today that
it has entered into a purchase and sale agreement (the 'Purchase
Agreement?) with Riverside Resources Inc. ('RRI?; TSXV: RRI.V) under
which the Company sold to RRI one of its three core drills which is
currently surplus to the needs of the Company and has been in storage.
The Purchase Agreement provides that the Company can elect to repurchase
the core drill from RRI or act as agent to sell the drill to a third
party. In either case, the Company shall repay RRI its purchase price
plus a premium of 15%. If after 120 days from the effective date of the
Purchase Agreement, the Company has not repurchased the core drill or
effected a sale to a third party, and if the Company and RRI have not
reached other arrangements, RRI shall be entitled to put the drill back
to the Company for the purchase price plus a 15% premium thereon. The
Company′s performance under the Purchase Agreement is secured by a
subordinate interest in 51% of the shares of its wholly owned subsidiary
company, Sacre-Coeur Guyana, Inc. subject to the standard provisions of
rights of redemption under the Personal Property Security Act
(British Columbia). The shares pledged in the subsidiary company will be
deposited in escrow pending release upon the Company′s performance under
the terms of the Purchase Agreement. The proceeds from the sale of the
drill will be used as working capital for general corporate purposes.


The Company has now completed a base case internal analysis of the
potential development of its Million Mountain Zone 1 hard-rock resource,
including an in-house update to its NI 43-101 resource. This in-house
update and analysis, though not intended to be NI 43-101 compliant, has
provided the Company with strong encouragement for proceeding with an
update of the resource to NI 43-101 standards and initiation of all
actions aimed at moving forward with the evaluation of production and
the commercial potential of the deposit as soon as practicably possible.
These activities shall include as appropriate, commissioning of
environmental studies, application for necessary permits for production
operations, metallurgical studies, commissioning of a third party
feasibility study, and arrangement of financing for development if
warranted.


We are excited about the progress marked by the encouraging results of
our internal analysis of the prospect of near term development of the
Million Mountain hard-rock.

About Sacre-Coeur


The Company is engaged in the acquisition, exploration, development, and
production of properties for gold, metals and diamonds in South America,
initially focussing on exploration and production of gold from its
properties in Guyana. The Company presently holds 100% interest in
approximately 850 sq. km of mineral properties in Guyana, including the
Million Mountain Property which hosts an NI 43-101 compliant hard-rock
resource of 12,119,285 tonnes grading 1.0 g/t Au Measured, and 2,175,278
tonnes grading 0.9 g/t Au Indicated for a total 451,000 tr oz Au
combined. The Company has offices in Vancouver, Canada and Georgetown,
Guyana. More information about the Company is available at <www.scminerals.com>.

ON BEHALF OF THE BOARD OF DIRECTORS OF SACRE-COEUR MINERALS, LTD.

'Gregory B. Sparks?

Gregory B.
Sparks, P. Eng.

President & CEO


Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


This news release may contain 'forward-looking statements? within the
meaning of the United States Private Securities Litigation Reform Act of
1995 or 'forward-looking information? within the meaning of applicable
Canadian securities laws, which we will refer to as 'forward-looking
information?. Often, but not always, forward-looking information can be
identified by the use of words such as 'plans?, 'expects?, 'is
expected?, 'budget?, 'scheduled?, 'estimates?, 'forecasts?, 'intends?,
'anticipates? or 'believes? or the negatives thereof or variations of
such words and phrases or statements that certain actions, events or
results 'may?, 'could?, 'would?, 'might? or 'will? be taken, occur or be
achieved. Forward-looking information includes, but is not limited to,
statements pertaining to development activities, commissioning of
environmental studies, application for necessary permits for production
operations, metallurgical studies, commissioning of a third party
feasibility study, arrangement of financing for development, formal
production decisions, business combinations.


We can give no assurance that the forward-looking information will prove
to be accurate. Forward-looking information by its nature is based on
assumptions and involves known and unknown risks, uncertainties and
other factors, including those discussed in the Company′s quarterly and
annual management discussion and analysis, which are available at www.sedar.com
under the Company′s profile, any of which may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking information. The forward-looking
information is based on a number of assumptions that management believes
are reasonable, including but not limited to assumptions about; the
price of gold; the financial condition of the Company; anticipated costs
and expenditures; estimated production; mineral resources or reserves;
and metallurgical recoveries; general business conditions; and the
ability to achieve our goals. The forward-looking information is also
subject to certain risks, uncertainties and other factors associated
with our business, including but not limited to: gold price volatility;
risks of not meeting production and cost targets; discrepancies between
actual and estimated production; mineral reserves and resources and
metallurgical recoveries; mining operational and development risk;
litigation risks; regulatory restrictions, including environmental
regulatory restrictions and liability; risks of sovereign investment and
operating in foreign countries; currency fluctuations; speculative
nature of gold exploration; global economic climate; dilution; share
price volatility; competition; loss of key employees; additional funding
requirements; and defective title to mineral claims or property, as well
as those factors discussed in the Company′s quarterly and annual
management discussion and analysis. Should underlying assumptions prove
incorrect, or should one or more of the risks, uncertainties or other
factors materialize, actual results may vary materially from those
expressed or implied in the forward-looking information.


Forward-looking information is designed to help you understand
management′s current views of our near and longer term prospects, and it
may not be appropriate for other purposes. Forward-looking information
is based on the reasonable beliefs, estimates and opinions of management
at the date the statements are made and is subject to change without
notice. These factors should be carefully considered and viewers are
cautioned not to place undue reliance on forward-looking information,
which speaks only as of the date of this news release. We will not
necessarily update this information unless we are required to by
applicable securities laws.


Sacre-Coeur Minerals, Ltd.

Gregory Sparks, President and CEO

Email:
greg@scminerals.com

Phone:
604-899-0100

Fax: 604-899-0200

or

Don Mosher - B&D
Capital, Corporate Consultant

Email: don@scminerals.com

Phone:
604-899-0100

Mobile: 604-617-5448

Fax: 604-899-0200



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