Sandstorm Resources Provides Update on Gold Purchase Agreement With Rambler Metals and Mining PLC
Vancouver, British Columbia, August 31, 2010 -- Sandstorm Resources Ltd. ("Sandstorm" or the "Corporation") (TSX-V: SSL) is pleased to announce that it has accepted the feasibility study of Rambler Metals and Mining PLC ("Rambler") (AIM: RMM; TSX-V: RAB) on its copper-gold Ming Mine (the "Ming Mine"), located on the Baie Verte Peninsula in Newfoundland, Canada. In accordance with the gold purchase agreement, Sandstorm will be remitting the second deposit of US$2,000,000 to Rambler, and the third deposit of US$13,000,000 will be remitted to Rambler upon award of all key permits to construct the Ming Mine, which is anticipated in the second half of 2010.
In addition, Sandstorm has amended its gold purchase agreement with Rambler to provide certain protective measures to Sandstorm relating to metallurgical recovery of gold and throughput rates at the Ming Mine.
For more information on the Ming Mine, please visit the Rambler website at www.ramblermines.com <http://www.ramblermines.com> .
ABOUT SANDSTORM RESOURCES
Sandstorm Resources Ltd. is a growth focused resource based company that seeks to complete transactions with companies that have advanced stage development projects or operating mines. By making upfront payments to its partners, Sandstorm receives volumetric production payments (i.e. metal stream deals) on precious metals. Sandstorm helps other companies in the resource industry grow their businesses, while acquiring attractive assets in the process.
Sandstorm is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm has completed volumetric production payments with Luna Gold Corp., SilverCrest Mines Inc., Santa Fe Gold Corporation and Rambler Metals and Mining plc. For more information visit: www.sandstormresources.com <http://www.sandstormresources.com> .
Contact Information:
Sandstorm Executive Vice President of Corporate Development
David Awram
(604) 689-0234 |
