🕐10.03.11 - 15:27 Uhr
Extorre Lists On The NYSE Amex Exchange Under The Symbol “XG”
View the online version http://extorregoldmineslimited.createsend3.com/t/y/e/fhkhyy/uudljlhrj/jr/, or unsubscribe
http://extorregoldmineslimited.createsend3.com/t/y/u/fhkhyy/uudljlhrj/jy/ from our list.
Extorre Lists On The NYSE Amex
Exchange Under The Symbol "XG"
Vancouver, B.C., March 10, 2011 – Extorre Gold Mines Limited (TSX
:XG, Frankfurt: E1R, OTC: EXGMF – "Extorre" or the "Company") is
pleased to announce that its common shares have been approved
for listing on the NYSE Amex, and will commence trading on
Monday, March 14, 2011.
The Company will trade under the symbol
"XG" on both the NYSE Amex and TSX Exchanges.
Extorres Co-Chairmen, Yale Simpson and Bryce Roxburgh, stated
"The NYSE Amex listing represents a significant milestone in our
corporate growth.
The listing is expected to provide a more
convenient trading market for U.S.
investors.
It will
significantly enhance Extorres visibility in the U.S.
investment community.
"The listing on the OTCQX platform was an excellent interim
market for the Company but that listing will be discontinued
going forward."
About Extorre
Extorre is a Canadian public company listed on the Toronto Stock
Exchange (symbol XG) and on the OTCQX (symbol EXGMF).
Extorres
assets comprise approximately $39 million in cash, the Cerro
Morro and Don Sixto projects, and other mineral exploration
properties in Argentina.
On April 19, 2010, Extorre announced a National Instrument 43-101
compliant mineral resource estimate for Cerro Moro:
Indicated Category: 357,000 oz.
gold + 15.3 million oz.
silver
(612,000 oz.
gold equivalent*), plus
Inferred Category: 190,000 oz.
gold + 12.0 million oz.
silver
(390,000 oz.
gold equivalent*)
The 612,000 ounce gold equivalent* indicated resource has an
average grade of 32.3 g/t gold equivalent*, a grade considered
exceptional by industry standards.
The silver contribution is
high, accounting for approximately 50% of the metal value.
Additional inferred resources of 390,000 ounces gold equivalent*
are also reported from Cerro Moro.
Extorre released the results of a preliminary economic assessment
("PEA") of the Cerro Moro Project on October 19, 2010.
The PEA
highlighted the robust economics of a future mine expected to
produce an average of 133,500 gold equivalent* ounces annually
during the first 5 years of operations.
The cash cost per ounce
(gold equivalent*) is estimated to be US$ 201/ounce.
Project
CAPEX has been estimated at US$ 131 million (of which 21% is a
VAT that is refundable after production commences).
The project
economics were calculated using gold and silver prices of US$
950/ounce and US$ 16/ounce, respectively.
Extorre has 6 drills rigs operating, four on the Cerro Moro
property and two on discovery drilling elsewhere in Santa Cruz
Province.
*Gold equivalent grade is calculated by dividing the silver assay
or resource by 60, adding it to the gold value and assuming 100%
metallurgical recovery.
You are invited to visit the Extorre web site at www.extorre.com
Latest news
Feb 22, 2011
New Discovery By Extorre In Santa Cruz Province, Argentina
more
Feb 07, 2011
Extorre Extends High Grade Gold-Silver Zones at Cerro Moro
more
Jan 24, 2011
Cerro Moro Infill Drilling For Pre-Feasibility Study Completed -
Drilling Now Focused Entirely on New Veins and Extensions
more
Contact
EXTORRE GOLD MINES LIMITED
Eric Roth
President and CEO
[]
Suite 1660, 999 West Hastings St.
Vancouver, BC Canada V6C 2W2
For further information, please contact:
Rob Grey
VP Corporate Communications
T: 604.681.9512
F: 604.688.9532
Toll-free: 1.888.688.9512
Safe Harbour Statement – This news release contains "forward
-looking information" and "forward-looking statements" (together,
the "forward-looking statements") within the meaning of
applicable securities laws and the United States Private
Securities Litigation Reform Act of 1995, including our belief
as to the commencement of trading on the NYSE Amex, the extent
and timing of drilling programs, various studies including the
PEA, exploration results, the potential tonnage, grades and
content of deposits, timing, establishment and extent of
resources estimates, potential production from and viability of
its properties, production costs and permitting submission and
timing.
These forward-looking statements are made as of the date
of this news release.
Readers are cautioned not to place undue
reliance on forward-looking statements, as there can be no
assurance that the future circumstances, outcomes or results
anticipated in or implied by such forward-looking statements
will occur or that plans, intentions or expectations upon which
the forward-looking statements are based will occur.
While we
have based these forward-looking statements on our expectations
about future events as at the date that such statements were
prepared, the statements are not a guarantee that such future
events will occur and are subject to risks, uncertainties,
assumptions and other factors which could cause events or
outcomes to differ materially from those expressed or implied by
such forward-looking statements.
Such factors and assumptions
include, among others, the effects of general economic
conditions, the price of gold and silver, changing foreign
exchange rates and actions by government authorities,
uncertainties associated with legal proceedings and negotiations
and misjudgments in the course of preparing forward-looking
information.
In addition, there are known and unknown risk
factors which could cause our actual results, performance or
achievements to differ materially from any future results,
performance or achievements expressed or implied by the forward
-looking statements.
Known risk factors include risks associated
with project development; the need for additional financing;
operational risks associated with mining and mineral processing;
fluctuations in metal prices; title matters; uncertainties and
risks related to carrying on business in foreign countries;
environmental liability claims and insurance; reliance on key
personnel; the potential for conflicts of interest among certain
of our officers, directors or promoters of with certain other
projects; the absence of dividends; currency fluctuations;
competition; dilution; the volatility of the our common share
price and volume; tax consequences to U.S.
investors; and other
risks and uncertainties, including those relating to the Cerro
Moro project and general risks associated with the mineral
exploration and development industry described in our interim
financial statements and MD&A for the fiscal period ended March
31, 2010 filed with the Canadian Securities Administrators and
available at www.sedar.com.
Although we have attempted to
identify important factors that could cause actual actions,
events or results to differ materially from those described in
forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated,
estimated or intended.
There can be no assurance that forward
-looking statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated
in such statements.
Accordingly, readers should not place undue
reliance on forward-looking statements.
We are under no
obligation to update or alter any forward-looking statements
except as required under applicable securities laws.
Cautionary Note to United States Investors - The information
contained herein and incorporated by reference herein has been
prepared in accordance with the requirements of Canadian
securities laws, which differ from the requirements of United
States securities laws.
In particular, the term "resource" does
not equate to the term "reserve".
The Securities Exchange
Commissions (the "SEC") disclosure standards normally do not
permit the inclusion of information concerning "measured mineral
resources", "indicated mineral resources" or "inferred mineral
resources" or other descriptions of the amount of mineralization
in mineral deposits that do not constitute "reserves" by SEC
standards, unless such information is required to be disclosed
by the law of the Companys jurisdiction of incorporation or of
a jurisdiction in which its securities are traded.
U.S.
investors should also understand that "inferred mineral
resources" have a great amount of uncertainty as to their
existence and great uncertainty as to their economic and legal
feasibility.
Disclosure of "contained ounces" is permitted
disclosure under Canadian regulations; however, the SEC normally
only permits issuers to report mineralization that does not
constitute "reserves" by SEC standards as in place tonnage and
grade without reference to unit measures.
NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
© 2010 Extorre Gold Mines Limited // Design + Development
Scopemedia