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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: loantech	2/21/2007 9:22:24 AM
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Good news for Glencairn:Glencairn to expand gold production at Libertad Glencairn Gold Corp (C:GGG) Shares Issued 240,591,698 Last Close 2/20/2007 $0.62 Wednesday February 21 2007 - News Release Mr. Peter Tagliamonte reports GLENCAIRN PLANS EXPANSION AT LIBERTAD MINE Glencairn Gold Corp. is planning to expand gold production at its Libertad mine in Nicaragua by converting the heap-leach mine to a conventional milling operation. Preliminary internal studies have been undertaken in consultation with engineering firm AMEC Americas Limited. Glencairn currently estimates that the expansion will require approximately two years to complete. Mining operations at Libertad will be suspended during this period commencing the end of March, 2007. (The company will host a conference call to discuss the expansion.) "We anticipate that this conversion project will secure a long-term future for Libertad. Our expectation is that Libertad can become a significant producer for Glencairn," said president and chief executive officer, Peter Tagliamonte. Following consultations between Glencairn Gold and senior representatives of the newly elected Nicaraguan government, senior authorities of the Ministry of Energy & Mines issued the following statement: "It is a positive sign to see that an international company is showing such confidence in the country of Nicaragua and its new government. Our government is very interested in promoting new investments such as this, which create good employment opportunities for Nicaraguans and strengthen the country's development."

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