July 25, 2011
Sandstorm Gold Announces 19 Metres of 4.67 g/t and 53 Metres of 2.09 g/t at Luna Gold's Aurizona Mine
Vancouver, British Columbia, July 25, 2011 - Sandstorm Gold Ltd. ("Sandstorm") (TSX-V: SSL) is pleased to announce that Luna Gold Corp. ("Luna") (TSX-V: LGC) has reported additional positive assay results from drilling at the Aurizona Mine. Significant mineralized intercepts from the twelve new holes are:
- 12.00 metres @ 3.43 g/t Au including 0.50 metre @ 49.60 g/t Au and 0.50 metre @ 14.75 g/t Au in BRAZD311
- 19.00 metres @ 4.67 g/t Au including 3.00 metres @ 14.08 g/t Au and 2.00 metres @ 14.32 g/t Au in BRAZD314
- 53.00 metres @ 2.09 g/t Au including 2.50 metres @ 7.11 g/t Au and 0.50 metre @ 11.70 g/t Au in BRAZD319
In accordance with Sandstorm's gold purchase agreement with Luna, Sandstorm is entitled to purchase 17% of the life of mine gold produced from the Aurizona Mine at a per ounce price equal to the lesser of US$400 and the then prevailing market price.
Sandstorm President & CEO Nolan Watson commented, "It is encouraging to see the continuation of positive drill results at Aurizona. We are looking forward to Luna's resource upgrade in Q4 2011."
Of the current 40,000 metre drill program, which commenced in August 2010, assays from 51 holes totaling 14,346 metres have been received and samples from 14 additional holes are currently at the assay lab. The most recent assay results are for twelve drill holes totaling 3,678 metres drilled on ten sections covering a strike extent of 1.5 kilometres of the Piaba deposit. All drill holes intersected considerable zones of gold mineralization and the deposit remains open at depth. Significant mineralized intercepts from holes drilled across the deposit are tabulated below.
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