🕐15.11.10 - 23:27 Uhr

New Dawn Mining Corp.: 27.7% Quarterly Increase in Consolidated Gold Production



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Add to your address book or safe list to ensure delivery of email blasts (click for instructions) 27.7% Quarterly Increase in Consolidated Gold Production

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42.5% Quarterly Increase in Consolidated Gold Sales

Consolidated Gold Sales Reach Record High, Exceeding
US$5 Million for the Quarter Ended September 30, 2010

Toronto, Ontario, November 15, 2010 - New Dawn Mining Corp. (TSX: ND) reported consolidated gold production of 4,141 ounces of gold produced (4,024 ounces attributable to New Dawn, after adjusting for the minority interests share of gold production from the Central African Gold properties) for the quarter ended September 30, 2010, as compared to 3,243 ounces of gold produced (3,243 ounces attributable) for the quarter ended June 30, 2010, an increase of 27.7% (24.1% increase on an attributable basis).

As a result of New Dawns investment in which it acquired an 89% controlling interest in Central African Gold Plc effective June 16, 2010, New Dawn has consolidated for accounting purposes the operations of Central African Gold from that date. However, Central African Golds properties were conducting limited operations or were on care and maintenance through June 30, 2010, and therefore did not have any gold production or sales for the period from June 16, 2010 through June 30, 2010. Accordingly, gold production and sales for the quarter ended June 30, 2010 reflects only the operations of New Dawns Turk and Angelus Mines for such period.

Commented Ian R. Saunders, President and CEO of New Dawn, "Inclusive of reserves, New Dawns attributable gold mineral resource base has increased by 92% with the filing of the new Central African Gold NI 43-101-compliant mineral reserve and resource estimate, as announced on October 19, 2010. The quarterly production and sales results announced today are simply the first indication of growth that New Dawn will be embarking upon in the coming quarters and years ahead. The Central African Gold mining properties and the Companys Turk and Angelus Mines have a combined target of 50,000 to 60,000 ounces of annualized gold production within the next 18 to 24 months, followed by an annualized gold production target of 100,000 ounces within the next 4 to 5 years. In addition, we will be continuing to explore on our highly prospective ground in Zimbabwe for additional development opportunities."

During the quarter ended September 30, 2010, consolidated gold sales totalled US$5,059,903 (US$4,949,676, after adjusting for the minority interests share of gold sales from the Central African Gold properties) at an average sales price per ounce of gold of US$1,239, as compared to consolidated gold sales for the previous quarter ended June 30, 2010 of US$3,549,786 (US$3,549,786 attributable) at an average sales price per ounce of gold of US$1,194. Consolidated gold sales for the quarter ended September 30, 2010 increased 42.5% (39.4% increase on an attributable basis), as compared to the previous quarter ended June 30, 2010, as a result of both increased production at the Turk and Angelus Mines and production activity at the mining properties owned by Central African Gold, in which New Dawn acquired an 89% controlling interest in June 2010.

100% of sale proceeds were received in US dollars.

At September 2010 month-end, an additional 608 ounces or 18.9 kgs of gold awaited export documentation for sale in South Africa, and will be included in October 2010 sales.

The increase in gold production was a result of greater tonnage mined and processed at the Turk and Angelus Mines, as well as the limited production from the Central African Gold properties, resulting in a 27.7% increase in gold production (24.1% increase on an attributable basis). The Dalny and Old Nic Mines, having resumed operation in early August 2010 on a limited basis, collectively contributed an initially modest 571 ounces (454 ounces attributable) to New Dawns total production output for the quarter ended September 30, 2010. The Dalny and Old Nic Mines are expected to contribute an increasing proportion of New Dawns consolidated gold production in future periods. Historical production at Dalny Mine up to 2006 was 2.44M ounces of gold from 10.2M tonnes of mineralized material grading approximately 7.42 g/t. The Dalny Mine complex includes a strike length of over 15km.

New Dawns 100%-owned Turk and Angelus Mines produced 3,570 ounces of gold or 111 kgs during the quarter ended September 30, 2010, as compared to 3,243 ounces of gold or 100.9 kgs during the quarter ended June 30, 2010, an increase of 10.1%.

During the quarter ended September 30, 2010, gold production output levels increased at the Turk and Angelus Mines, but were still adversely affected by unscheduled power cuts. As previously announced, the power situation at Turk and Angelus Mines is being stabilized with the installation of diesel generators expected to be completed and operational by December 31, 2010.

The quarter ended September 30, 2010 is the fourth fiscal quarter of the Companys fiscal year ended September 30, 2010. The Company will file its consolidated financial statements and related materials for the fiscal year ended September 30, 2010, and report its consolidated results of operations for such period, by the filing deadline of December 29, 2010.

About New Dawn �

New Dawn is a Zimbabwe-focused junior gold company currently expanding gold production at its wholly-owned Turk and Angelus Mines and, with its June 2010 investment in which it acquired an 89% controlling interest in Central African Gold, New Dawn is targeting consolidated annualized gold production of 50,000 to 60,000 ounces within the next 18 to 24 months, increasing to 100,000 ounces of annualized gold production within the next 4 to 5 years.

Having recently filed a new NI 43-101-compliant mineral reserve and resource estimate for the Central African Gold properties acquired, New Dawns total attributable mineral reserves, including its Turk and Angelus Mines, increased 32% to 220,000 ounces of gold grading 3.81 g/t from 1,785,000 tons of mineralized material. The attributable mineral reserves are comprised of attributable proven mineral reserves of 109,400 ounces of gold grading 3.69 g/t from 874,700 tons of mineralized material and attributable probable mineral reserves of 110,600 ounces of gold grading 3.78 g/t from 910,300 tons of mineralized material.

Additionally, New Dawns total attributable measured and indicated mineral resources (inclusive of attributable mineral reserves) increased by 92% to 1,558,400 ounces of gold grading 2.37 g/t from 20,436,000 tons of mineralized material and New Dawns total attributable inferred mineral resources increased by 54% to 552,600 ounces of gold grading 4.95 g/t from 3,477,000 tons of mineralized material.

Presently, New Dawn operates 3 significant gold camps in Zimbabwe, where it owns 6 mines, 3 of which are currently producing gold and expanding production. New Dawn is on the path to becoming a leading gold mining company in Zimbabwe, active in both gold production and gold exploration, by employing modern mining techniques and deploying capital in a country that is geologically rich, highly prospective, and significantly under explored.

Additional information on New Dawns gold reserve and resource estimates is included at the Companys website at or in the Companys filings on SEDAR at

The TSX has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

The contents of this news release were supervised and reviewed by Ian R. Saunders, B.Sc., who is President, Chief Executive Officer, and a Director of New Dawn Mining Corp., and who is a Qualified Person within the meaning of NI 43-101.

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Special Note Regarding Forward-Looking Statements: Certain statements included or incorporated by reference in this news release, including information as to the future financial or operating performance of the Company, its subsidiaries and its projects, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding targets, estimates and assumptions in respect of gold production and prices, operating costs, results and capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company�s actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Such factors include, among others, risks relating to reserve and resource estimates, gold prices, exploration, development and operating risks, political and foreign risk, uninsurable risks, competition, limited mining operations, production risks, environmental regulation and liability, government regulation, currency fluctuations, recent losses and write-downs and dependence on key employees. See "Risk Factors" in the Company�s Annual Information Form - 2009. Due to risks and uncertainties, including the risks and uncertainties identified above, actual events may differ materially from current expectations. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise.

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