Toronto, Sept. 30, 2019 – Continental Gold Inc. (TSX: CNL; OTCQX: CGOOF) (“Continental” or the “Company”) is pleased to announce the release of photos showing construction advancement at its flagship Buriticá project in northwestern Antioquia, Colombia.
Additionally, project construction is advancing more rapidly than planned and, as a result, the Company is pleased to update guidance for mechanical completion of the project from H1 2020 to Q1 2020. Ramp‑up to commercial production is anticipated to take 6-9 months from the date that mechanical completion for the project is achieved.
About Continental Gold Inc.
Continental Gold is the leading large-scale gold mining company in Colombia and is presently developing it’s 100% owned Buriticá project in Antioquia. Buriticá is one of the largest and highest-grade gold projects in the world and is being advanced utilizing best practices for mine construction, environmental care and community inclusion. Led by an international management team with a successful record of discovering, financing and developing large high-grade gold deposits in Latin America, the Buriticá project is on schedule with mechanical completion anticipated during the first quarter of 2020. For information on the Buriticá project, please refer to the technical report, prepared in accordance with NI 43–101, entitled “NI 43‐101 Buriticá Mineral Resource 2019‐01, Antioquia, Colombia” and dated March 18, 2019 with an effective date of January 30, 2019, led by independent consultants Ivor Jones Pty Ltd. The technical report is available on SEDAR at www.sedar.com, on the OTCQX at www.otcmarkets.com and on the Company website at www.continentalgold.com.
This news release contains or refers to forward–looking information under Canadian securities legislation—including statements regarding the development and construction of the Buriticá project, timing of mechanical completion and production start-up, advancing the Buriticá project and future plans and objectives of the Company—and is based on current expectations that involve a number of significant business risks and uncertainties. Forward–looking statements are subject to other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward–looking statements. Specific reference is made to the most recent Annual Information Form on file with Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward–looking statements. All the forward–looking statements made in this news release are qualified by these cautionary statements and are made as of the date hereof. The Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.