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VANCOUVER, British Columbia, Oct. 7, 2013 (GLOBE NEWSWIRE) -- Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSX-V:NEV) announced today that as a result of a review by the British Columbia Securities Commission, the Company is issuing this news release to clarify its disclosure on its website, corporate presentation, and in certain news releases regarding resource estimates at its Golden Arrow property, located near Tonopah, Nevada (the "Golden Arrow Project").
Retraction of Disclosure of Economic Analysis
In a news release of April 1, 2009, and on the Company's website, the Company made reference to the results of a preliminary internal scoping study. The Company wishes to clarify this statement and confirms that it has not prepared a Preliminary Economic Assessment ("PEA").
The Company retracts any statements made regarding the results of a PEA or scoping study.
The Company had, however, prepared and filed on SEDAR on May 15, 2009 a technical report dated May 1, 2009 entitled "Updated Technical Report on the Golden Arrow Project, Nye County, Nevada, USA", by Mine Development Associates of Reno, Nevada, co-authored by Steven Ristorcelli, C.P.G., and Odin Christensen, Ph.D., C.P.G. (the "Technical Report"), with Mr. Ristorcelli being independent of Nevada Sunrise, while Mr. Christensen was not independent of Nevada Sunrise. The Technical Report supports the Mineral Resource estimates present at the Golden Arrow Project and incorporates all relevant technical information available at the time of publication which the Company still considers current. The Company cautions that there has been insufficient exploration to define any Mineral Resources other than what are described in the Technical Report, and that it is uncertain if further exploration will result in any exploration targets at the Golden Arrow Project being delineated as a mineral resource. Investors are referred to the technical information contained in the Technical Report.