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8-K - FORM 8-K - GRYPHON GOLD CORP | form8k.htm |
NEWS RELEASE | |
Gryphon Gold Corporation, 611 N Nevada Street, Carson City, NV 89703 |
Gryphon Gold Announces Installation of Replacement
ADR
Refining Facility Boiler
CARSON CITY, NV - January 15, 2013 - Gryphon Gold Corporation (the Company or Gryphon Gold) (GGN: TSX; GYPH: OTCQB), a gold exploration, development, and production company focused on its Borealis Oxide Heap Leach Project in Nevada (the Borealis Property), announced that it has installed a replacement boiler in its Adsorption Desorption Recovery (ADR) refining facility. The boiler is currently undergoing testing and the Company expects it to be in operation by the end of this week.
We are pleased to have found a new boiler so quickly to replace our previous unit that malfunctioned, stated Donald B. Tschabrun, Chief Operating Officer of Gryphon Gold. Once fully operational, we can immediately restart stripping gold from carbon and expect to pour gold early next week. In the interim, we have continued to circulate solution through the carbon columns to generate a backlog of gold.
ABOUT GRYPHON GOLD:
Gryphon Gold produces gold from
its Borealis Property, which is located in Nevadas Walker Lane Gold Belt. The
Company is expanding its production capacity and advancing the development of
the oxide heap leachable gold and silver historically identified that includes
both pre-processed and unprocessed ore. Gryphon Gold also plans to further
expand and develop the significant sulphide resource available through
exploration, metallurgical design and sulphide project permitting and
development. The Borealis Property contains unpatented mining claims (including
claims leased to the Companys wholly owned subsidiary) of approximately 20
acres each, totaling about 15,020 acres, which has successful past production.
Gryphon Gold routinely posts news and other important information on its website: www.gryphongold.com.
For further information, please contact:
James T. ONeil Jr. | Deborah K. Pawlowski |
CEO and Interim CFO | Kei Advisors LLC |
775.883.1456 | 716.843.3908 |
joneil@gryphongold.com | dpawlowski@keiadvisors.com |
Safe Harbor Statement
This press release
contains forward-looking statements and "forward-looking information" within
the meaning of United States and Canadian securities laws, which may include,
but are not limited to, statements relating to operating results; installation
and operation of a boiler and crushers, resumption and expansion of production
capacity, expansion of the heap leach pad, development of resources, and plans
to advance the development of the Borealis Property. Such forward-looking
statements and forward-looking information reflect our current views with
respect to future events and are subject to certain risks, uncertainties and
assumptions, including risks associated with mining operations, risks associated
with the installation and operation of new equipment, risks associated with the
reduction in revenue from operations for the periods referred to in this
release; risks associated with Gryphons limited capital resources, risks
associated with the oxide heap, risks associated with exploration, metallurgical
design and project permitting and development and the risks and uncertainties
outlined under the section headings Forward-Looking Statements and Risks
Factors and Uncertainties in the Annual and Quarterly Reports, as filed with
the SEC and Canadian securities administrators and in the Companys other
reports, documents, and registration statements filed with the SEC (available at
www.sec.gov) and with Canadian securities administrators (available at
www.sedar.com ). Should one or more of these risks or uncertainties materialize,
or should underlying assumptions prove incorrect, actual results may vary
materially from those anticipated, believed, estimated or expected. The Company
does not undertake to update forward-looking statements or forward-looking
information, except as may be required by law. Full financial statements and
securities filings are available on the Companys website: www.gryphongold.com
and www.sec.gov or www.sedar.com.
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