| March 04, 2010 Sandstorm Resources Acquires Gold Stream From Rambler Metals & Mining Plc | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| For Immediate Release: Announcement Highlights:
Vancouver, British Columbia, March 4, 2010 - Sandstorm Resources Ltd. ("Sandstorm" or the "Corporation") (TSX-V: SSL) is pleased to announce that it has entered into a gold purchase agreement with Rambler Metals & Mining plc ("Rambler") (AIM: RMM; TSX-V: RAB), a United Kingdom-based mining and exploration company. Sandstorm has agreed to purchase 25% of the first 175,000 ounces of payable gold, and 12% of the payable gold thereafter, from Rambler's copper-gold Ming Mine (the "Ming Mine"), located on the Baie Verte Peninsula in Newfoundland, Canada. In consideration, Sandstorm will make staged upfront cash payments to Rambler totaling US$20,000,000 (the "Upfront Deposit"). The 'First Deposit' of US$5,000,000 will be paid to Rambler immediately. The 'Second Deposit' of US$2,000,000 will be paid to Rambler upon completion and delivery to Sandstorm of a satisfactory NI 43-101 compliant Feasibility Study, which Rambler anticipates completing in the second quarter of 2010. The 'Third Deposit' of US$13,000,000 will be paid to Rambler upon receipt of all necessary permits for the Ming Mine, which Rambler anticipates receiving in the second half of 2010. "The future exploration potential on this asset is very promising," stated Nolan Watson, President and Chief Executive Officer of Sandstorm Resources, "Rambler's management team has done an exceptional job preparing this asset to go into production. With the recent Nugget Pond Mill acquisition and the permitting process nearly completed, we are confident that Rambler will be able to bring the asset into successful production within the next 12 to 18 months." Rambler will be subject to the following completion guarantees:
The Ming Mine is a past producing underground massive sulfide copper-gold mine located in northwestern Newfoundland. The area has a strong history of gold, base metal and industrial minerals mining. Infrastructure is excellent and the Ming Mine is immediately adjacent to a major highway. A brief history of operations is summarized below:
Rambler has recently purchased the Nugget Pond Mill located just 40 km from the Ming Mine. The gold concentrator will be adapted to process base metals sulfides from the Ming Mine through the addition of a copper flotation circuit as well as process the 'free gold' that exists in the Rambler geological system. The modification will diversify the existing facility and allow for a range of processing capabilities. Rambler has recently compiled an internal business plan to develop the existing NI 43-101 compliant resource at the Ming Mine. The section of the report concerning the underground operation is already at a feasibility level while the work on surface engineering, including the concentrator, is at a scoping level. With the acquisition of the Nugget Pond facility, the detailed surface engineering can now be completed allowing for a full compliant NI 43-101 mine plan. Considering just the existing measured and indicated massive sulfide resources, as well as recently identified similar mineralized zones and an extraction rate of 850 metric tonnes per day, the Ming Mine is expected to have a significant life. This has the potential to increase, as all mineralized zones are open in multiple directions. The above plan also excludes the bulk tonnage lower footwall zone that Rambler intends to develop once it is in production. The internal business plan will form the basis of the full project evaluation which is expected to be publicly released during the first half of 2010. Larry Pilgrim, B.Sc., P.Geo., Chief Mine Geologist with Rambler is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical disclosure in this press release. Additional information on the Ming Mine can be found in "Form 43-101F1 Technical Report Mineral Resource Estimate for the Ming Mine, Newfoundland Canada" dated April 8, 2009 filed on SEDAR at www.sedar.com under Rambler's profile. Sandstorm will file a technical report on SEDAR in support of this press release within 45 days of the date of this press release. For more information on the Ming Mine, please visit the Rambler Metals & Mining website at www.ramblermines.com. ABOUT SANDSTORM RESOURCES Sandstorm Resources Ltd. is a growth focused resource based company that seeks to complete transactions with companies that have advanced stage development projects or operating mines. By making upfront payments to its partners, Sandstorm receives volumetric production payments (i.e. metal stream deals) on precious metals. Sandstorm helps other companies in the resource industry grow their businesses, while acquiring attractive assets in the process. Sandstorm is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm has completed volumetric production payments with Luna Gold Corp, SilverCrest Mines Inc., Santa Fe Gold Corporation and Rambler Metals & Mining plc. For more information visit: www.sandstormresources.com The February 19, 2009 Mineral Resource Statement for the entire Ming Mine is: Ming Mine Mineral Resource Statement - 19 February 2009 Rambler Metals and Mining Canada Limited
Cautionary Note Regarding Forward-Looking Information Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information is based on reasonable assumptions that have been made by the Corporation as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Sandstorm to be materially different from those expressed or implied by the forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which Sandstorm will purchase gold and risks related to those mining operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; problems inherent to the marketability of minerals; industry conditions, including fluctuations in the price of metals, fluctuations in foreign exchange rates and fluctuations in interest rates; stock market volatility; competition; delays in the construction of the Ming Mine as well as those factors discussed in the section entitled "Risk Factors" in Sandstorm's annual information form for the financial year ended March 31, 2009. Although Sandstorm has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Sandstorm does not undertake to update any forward-looking information that is contained or incorporated by reference herein, except in accordance with applicable securities laws. Sandstorm is a precious metals company. It considers it peers to be Silver Wheaton Corp., Royal Gold Inc., Franco-Nevada and International Royalty Corp. Contact Information: Sandstorm President and CEO Nolan Watson (604) 689-0234 Investor Relations Contact David Awram (604) 689-0234 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
You can view the Next News Releases item: Mon Mar 22, 2010, Sandstorm Announces Graduation to Tier 1 of the TSX Venture Exchange You can view the Previous News Releases item: Mon Mar 1, 2010, Sandstorm Provides Update On Aurizona Gold Production You can return to the main News Releases page, or press the Back button on your browser. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||