Date of earliest event reported: July 18, 2011
(Exact Name of Registrant as Specified in Charter) |
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
Vancouver, BC V6B 1N2 (Address of Principal Executive Offices) (Zip Code) |
(604) 261-2229
(Registrant's Telephone Number, including Area Code)
N/A
(Former name or address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure
The Registrant issued a new release filed herewith as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. | Description |
|
|
99.1 |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Gryphon Gold Corporation | |
(Registrant) | |
Dated: July 18, 2011 | By: /s/ John L. Key |
John L. Key Chief Executive Officer |
3
Exhibit 99.1
Gryphon Gold Updates Progress on Borealis Mine
Development
July 18, 2011 - Gryphon Gold Corporation (GGN:TSX; GYPH:OTC.BB) is pleased to announce that on site construction work for the Borealis Oxide Heap Leach Operation as of July 18, 2011 is on schedule and below budget. Gryphon anticipates first revenue from gold sales in October, 2011.
John Key, Chief Executive Officer of Gryphon Gold, commented Construction progress has been impressive. We set a very aggressive schedule that goes from groundbreaking to production in four months. Our contractors have remained on schedule and have been able to trim expenses from their original quotes. I have every confidence that we will be shipping loaded carbon into this strong gold market on schedule.
As of July 17, 2011, the main areas of advance since the June 6, 2011 groundbreaking are:
A construction update with pictures is posted on www.gryphongold.com.
For further information please contact:
John L. Key, CEO and President
1-775-883-1456 jkey@grypyhongold.com
Lisanna Lewis, VP, Treasurer, Investor
Relations
1-604-261-2229 llewis@gryphongold.com
ABOUT GRYPHON GOLD:
Gryphon Gold is a Nevada-focused gold
exploration company. The Companys principal property is its Borealis gold
project located in the Walker Lane gold belt of western Nevada.
This press release contains forward-looking statements and "forward-looking information" within the meaning of United States and Canadian securities laws, which may include, but are not limited to statements relating to the Companys plans to advance its Borealis Oxide Heap Leach Project; the schedule for site construction work, heap leach pad construction, pad loading, and revenue from gold sales at the Borealis Oxide Heap Leach Project; assumptions related to the commercial viability of the Borealis Oxide Heap Leach Project; assumptions related to gold grade and recoverability, estimates of tonnage and grade, anticipated release of further updates on the progress at the Borealis project and other statements relating to plans, estimates, objectives, and timing. Such forward-looking statements and forward-looking information reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risk that additional financing for the development of the Borealis Oxide Heap Leach Project may not be available on terms satisfactory to the Company if at all, risks associated with the start up of mining operations, and the risks and uncertainties outlined under the section headings Forward-Looking Statements and Risks Factors and Uncertainties in the Companys annual report on Form 10-K, as filed with the SEC on June 28, 2010, under the section heading Risk Factors in the Companys most recent quarterly report on Form 10-Q, as filed with the SEC on February 11 2011, under the section heading Risk Factors I the Companys Form S-1/A, as filed with the SEC on May 12, 2011 and in the Companys other reports, documents, and registration statements filed with the SEC (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com ). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. The Company does not undertake to update forward-looking statements or forward-looking information, except as may be required by law. Full financial statements and securities filings are available on the Companys website: www.gryphongold.com and www.sec.gov or www.sedar.com.
The technical report information in this press release was approved by Mr. Steve Craig, VP of Exploration of Gryphon Gold Corporation, and is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. Mr. Craig has supervised the preparation of the data contained in the press release.
Cautionary Note to U.S. Investors concerning estimates of Reserves and Resources: The 2011 Pre-Feasibility Study published on April 25, 2011 uses the terms "Proven and Probable Reserves" and "Mineral Reserves". We advise U.S. investors that while these terms are Canadian mining terms as defined in accordance with Canadian National Instrument 43-101 (NI 43-101") Standards of Disclosure for Mineral Projects and the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended, such definitions differ from the definitions in U.S. Securities and Exchange Commission ("SEC") Industry Guide 7. Under SEC Industry Guide 7 standards, a "final" or "bankable" feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into SEC Industry Guide 7 reserves. The 2011 Pre-Feasibility Study also uses the terms Measured Resources, Indicated Resources, Measured & Indicated Resources and Inferred Resources. We advise U.S. investors that while these terms are defined in and required by Canadian regulations, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Inferred Resources have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or pre-feasibility study, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant reserves as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into Guide 7 reserves.
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