09.16.2004
Trading Symbol - CNQ: SAGE
TORONTO, Sept. 16 /CNW/ - Sahelian Goldfields Inc. (CNQ listed: symbol SAGE) is pleased to announce that 66,308,000, representing 87% of the Series I Warrants which expired on September 12, 2004, have been exercised for total proceeds of $165,770. As a result, there are 411,775,215 shares outstanding. Sahelian is a precious metals mining exploration company with properties in Ontario, Quebec, and Nevada. The Company recently announced that it had executed an option agreement to acquire up to a 70% interest in two gold properties in the Rain District at the south end of the prolific Carlin Trend in Elko County, Nevada, and is actively negotiating to acquire interests in several properties, primarily in the Carlin and Midas Gold Districts of Nevada.
The Company is building an exploration and development company with existing properties and through the acquisition of additional gold and silver properties in the Americas. This release was prepared by management of the Company who takes full responsibility for its contents. The Canadian Trading and Quotation System Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance.
Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production. The Company disclaims any obligation to update forward-looking statements.
For further information: Nigel Lees, President and C.E.O., or Allan Ibbitson, C.F.O., Phone: (416) 204-3170, Fax: (416) 260-2243/ (SAGE.) CO: Sahelian Goldfields Inc. CNW 17:23e 16-SEP-04