MANILA, Philippines,
Nov. 14, 2014 /CNW/ - St.
Augustine Gold and Copper Limited
(TSX: SAU) ("St. Augustine" or the "Company"), a
development-stage company advancing the King-king Copper-Gold
Project in Mindanao, Philippines,
reports that it has filed its corporate and financial results for
the third quarter ended September 30,
2014. St. Augustine also announces the appointment of
Mr. Michael Regino as Senior
Vice-President and Ms. Maryknoll
Zamora as interim Chief Financial Officer of the
Company.
Q3 Financials
St. Augustine's Management's Discussion and Analysis and
Financial Statements for the third quarter ended September 30, 2014, are available on the
Company's website, www.sagcmining.com, and on SEDAR
at www.sedar.com.
Management Changes
Mr. Regino and Ms. Zamora's appointments are in line with St.
Augustine's previous announcements in which the Company stated it
would be strengthening its presence in the Philippines to continue the timely
development of King-king.
Mr. Michael Regino has over 30
years of corporate experience. He sits on the Boards of Directors
of several companies, including San Augustin Services, Inc.,
KingKing Mining Corp. and Nationwide Development Corp. Mr. Regino
has also been responsible for the Davao operations of KingKing
Mining Corp. since 2014. He holds an MBA from Ateneo de
Manila University and a Bachelor
of Economics from Ateneo de Zamboango University. As Senior Vice
President, Mr. Regino will oversee the operations and finance
functions of St. Augustine and will help advance King-king's
permitting process.
Ms. Maryknoll Zamora has over 20
years of finance, accounting, audit, tax and legal experience. She
is the Head of Finance at Prime Asset Ventures, Inc. (PAVI) and
oversees the finance division of each of PAVI's five subsidiaries.
Prior to this, she was Vice President, Finance and Administration
of Alcorn Gold Resources Corp. Ms. Zamora holds an MBA from De
La Salle University Graduate School of
Business (DLSU), an LL.B. from Adamson University College of Law
and a Bachelor of Accountancy from the Polytechnic University of the Philippines (PUP).
Mr. Regino and Ms. Zamora round out a senior leadership team now
based in Asia. The team is focused
on finalizing project permitting and commencing construction in
2016.
St. Augustine also announces that Mr. Lou Lazo, VP of Human Resources, is no longer
with the Company. St. Augustine wishes to thank Mr. Lazo for his
contributions and wishes him well in his future endeavors.
The King-king Copper-Gold Project
The King-king Copper-Gold Project is located in Compostela
Valley in the Philippines, and is
expected to recover 3.16B lbs. of copper and 5.43M oz. of gold over
its 25 year mine and process life. According to the
Preliminary Feasibility Study ("PFS") that was released on
September 18, 2013 and then filed on
www.sedar.com on November 1, 2013,
the Project has a pre-tax NPV of $2.0
billion with an IRR of 24.8%. The mineral reserve
amounts to 617.9 million tonnes at 0.300% total copper and 0.395
g/t gold.
About St. Augustine
St. Augustine (SAU.T) is a TSX-listed mining company focused on
the development of the King-king Copper-Gold Project. King-king, a
copper-gold porphyry deposit located in Mindanao, Philippines, is one of the largest undeveloped
copper-gold deposits in the world. King-king is listed as a top
three-priority project by the Philippine government.
For further information about the King-king Copper-Gold Project,
refer to St. Augustine's website, www.sagcmining.com, for the
updated investor presentation.
National Instrument 43-101 Compliance
Mr. James J. Moore, P.E., Vice President Technical of St
Augustine and a qualified person under National Instrument 43-101
("NI 43-101") has reviewed and approved the scientific and
technical information contained in this news release.
Cautionary Note Regarding Forward-Looking Statements
This announcement includes certain "forward-looking
statements" within the meaning of Canadian securities
legislation. All statements, other than statements of
historical fact included herein are forward-looking statements.
Forward-looking statements involve various risks and uncertainties
and are based on certain factors and assumptions. There can be no
assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could
cause actual results to differ materially from the Company's
expectations include uncertainties related to fluctuations in gold,
copper and other commodity prices and currency exchange rates;
uncertainties relating to interpretation of drill results and the
geology, continuity and grade of mineral deposits; uncertainties
relating to the completion of a bankable feasibility study;
uncertainty of estimates of capital and operating costs, recovery
rates production estimates and estimated economic return; the need
for cooperation of the Company's joint venture partner and
government agencies in the development of the Company's mineral
projects; the need to obtain additional financing to develop the
Company's mineral projects; the possibility of delay in development
programs or in construction projects and uncertainty of meeting
anticipated program milestones for the Company's mineral projects;
and other risks and uncertainties disclosed under the heading "Risk
Factors" in the Annual Information Form dated March 25, 2014, and filed with Canadian
securities regulatory authorities on the SEDAR website at
www.sedar.com.
SOURCE St. Augustine Gold and Copper Limited