Vancouver, Canada – August 15, 2011 –Caza Gold Corp. (CZY: TSX-V and FSE: CZ6).
From time to time the B.C. Securities Commission (“BCSC”) selects listed companies for a technical disclosure review. As a result of a recent review by the B.C. Securities Commission, Caza is issuing this news release to clarify certain parts of our past disclosure.
Clarification of prior disclosure for the Santiago and Balleza-La Cienega Properties
In its October 9, 2009 news release, the Company disclosed a Mexican Government 2006 estimate of the fixed tonnage potential with associated gold and silver grades for the Santiago Property. The news release cautioned that this was not a resource; however, NI 43-101 prohibited its disclosure because the estimate was not known to be based on assumptions, methods and parameters suitable for estimation of fixed quantities and grades, was not estimated by a QP, and did not have attached resource classification as required by NI 43-101. The Company retracts its disclosure of the Mexican Government 2006 estimate of the fixed tonnage potential and associated gold and silver grades in its October 9, 2009 news release and clarifies that it does not have any other historical or current resource estimates suitable for disclosure at its Santiago Property. In the event that the Company receives a material resource estimate it will promptly disclose the results and file a technical report as required by NI 43-101.
Subsequently the Company disclosed estimates, referred to as targets or potential, of the contained ounces of gold or silver in high-grade and low-grade deposits on its Santiago and Balleza-La Cienega Properties. Some disclosure included gold and silver grade ranges, or fixed grades. The disclosure occurred on the Company’s website, Corporate Presentation, and Corporate Fact Sheet, and in a management interview with A. Korelin posted on the Company’s website. In making this disclosure, the Company intended to provide guidance on the potential quantity and grade ranges of potential mineral deposits targeted by its exploration programs. However, the disclosure did not explain how the estimates of potential were determined, did not always use ranges, and omitted required cautionary language to explain the conceptual nature of estimates of potential.
The Company retracts its prior disclosure about size and grade of estimates of potential exploration targets at the Santiago and Balleza-La Cienega Properties. Phase 1 drilling programs have just been completed at the Santiago and Balleza Projects and results will be available in the coming weeks. The Company will promptly disclose the results and file a technical report as required by NI 43-101.
Potential of the Los Andes Property
Reference has also been made in the Company’s public disclosure to the potential of its Los Andes Project in Nicaragua and its geologic comparison with similar high-sulfidation epithermal gold systems. The following restates prior disclosure about potential at Los Andes.
The areal extent and mineralogy of intense hydrothermal alteration at Los Andes directly compares with the well documented world class mines such as Yanacocha, Peru- Pierina, Peru- Pueblo Viejo Dominican Republic, and several other deposits. Not only is the areal extent of the alteration system very large at Los Andes, the mineralogy of the alteration demonstrates mineral zonation related to igneous dikes, large fault systems and large breccia bodies, showing the clear association of high-sulfidation mineralogy, (natroalunite, alunite, pyrophyllite, dickite, zunyite, topaz, illite, montmorillonite, and smecktite). These mineral assemblages show higher temperature mineral assemblages surrounded by haloes of lower temperature minerals indicating possible feeder structures for hot fluids which caused the alteration and metal deposition.
In addition to the alteration system at Los Andes, which is larger than all of the above mentioned mines, and contains the critical high-sulfidation alteration minerals, Los Andes contains sporadic anomalous gold values and widespread anomalous geochemical values of indicator metals for these types of gold systems, such as selenium, bismuth, tellurium, and mercury, to name a few, that have similar values as those seen at all of the above mentioned mines.
The Geology of the Los Andes project is similar to the above world class mines, however the project data is not yet sufficient to estimate potential quantity ranges that could have comparable grades. The Company is currently conducting detailed mapping and sampling of the Los Andes property in preparation for future drilling programs.
Greg Myers, Ph.D. P. Geo is the Qualified Person who reviewed and approved the contents of this news release.
CAZA GOLD CORP.
/s/ Greg Myers
President and CEO
About Caza Gold Corp. – Caza Gold is a junior resource company focused on the acquisition and exploration of strategic gold properties in Mexico and Latin America. In 2011, the Company plans to drill the prospective Santiago and Moris properties in Mexico and explore its large portfolio of high sulfidation, epithermal gold properties in Nicaragua.
"Neither 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."
CAUTIONARY DISCLAIMER – FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute "forward-looking statements" within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties, as discussed in the Company's filings with Canadian securities agencies. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable law. We seek safe harbour.