VANCOUVER, April 25, 2018 /CNW/ – Golden Reign Resources Ltd. (TSX-V: GRR) (the “Company” or “Golden Reign”) announces an update on operational advancements at its wholly-owned San Albino-Murra Property (the “Property”) in Nueva Segovia, Nicaragua. The Company has initiated construction of new public access roads. Covering a distance of approximately 1.2 kilometres in length, the new 7 metre wide roads will offer improved access to the San Albino Mine and surrounding areas and provide access around the perimeter of the future San Albino Mine planned infrastructure.
“The construction of new public roads will provide ease of access around, and to, the future San Albino mine site as well as provide improved public safety and other positive socioeconomic benefits for the area. These new roads are not only supply lines to communities and residences, the route to the nearest hospital and a school bus route for children but also an infrastructure platform for rural economic diversification and growth, supporting the full range of different businesses and, overall, improving the quality of life of local residents“, stated Kevin Bullock, Golden Reign’s CEO and Director.
The Company completed detailed engineering studies and obtained the required municipal permits for construction of a new access road to the community of San Albino that also allows the expansion, enhancement, and/or modification of the existing road into the San Pablo community. A second road will provide access to a newly constructed pedestrian bridge that leads to a public school which is currently accessed through the historic San Albino mill site. The new roads, which are off-shoots of the primary, all-season El Jicaro road, will provide access for heavy machinery and transport trucks carrying large loads of material – resulting in reduced travel time and significantly improved safety. Additionally, the Company is seeking to minimize operational impact on certain affected local communities.
The roads will be outsloped (or crowned) and ditched to promote drainage and intersecting clips or water bars and lead-offs will be installed as needed to reduce erosion potential. The roads will be all-season, maintained by periodic dressing and blading, as required.
The Company intends to exclusively use local contractors and community members to undertake and supervise its road construction initiatives. This is in recognition of the strong support from the community and local administration. Crews and equipment will be mobilized shortly with work commencing on both road sections simultaneously. The work is expected to be complete by the end of the July 2018.
On behalf of the Board,
Kevin Bullock, P.Eng.
About Golden Reign:
Golden Reign Resources Ltd. is a publicly listed (TSX-V: GRR) mineral exploration company engaged in exploring the San Albino-Murra Property and the El Jicaro Property, both of which are located in Nueva Segovia, Nicaragua.
The Company’s prime objective is to bring its San Albino Gold Deposit into production quickly and efficiently, building cash flow to further advance a number of its other prospective exploration targets.
The Company’s land package comprises 13,771 hectares (138 km2) of prospective ground for gold and silver mineralization. Hundreds of historical mines and workings exist within the Corona de Oro Gold Belt, which is approximately 3 kilometres wide by 20 kilometres long and is spanned by the Company’s land package.
Forward-Looking Statements: Some of the statements contained herein may be considered “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is based on certain expectations and assumptions, including the assumption that the Company’s exploration program will be successfully completed, and are subject to known and unknown risks and uncertainties. Such forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking information, including, without limitation, the risk that satisfactory exploration results will not be obtained, the risk that exploration results will not translate into the discovery of an economically viable deposit, risks and uncertainties relating to political risks involving the Company’s exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management’s best judgment as of the date hereof, based on information currently available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.