VANCOUVER, June 15 /PRNewswire-FirstCall/ - Golden Queen Mining Co. Ltd. is pleased to announce it has engaged Norwest Corporation of Vancouver, British Columbia, to update the feasibility study on the Soledad Mountain Project to reflect current market economics. Norwest Corporation previously prepared a feasibility study on the Project, which is reported in a NI 43-101 compliant Technical Report dated January 23, 2008. The January 2008 report was prepared using base case prices of US$600/ounce for gold and US$12/ounce for silver. Current gold and silver prices are approximately US$1220/ounce and US$18/ounce respectively.
Norwest Corporation estimates that it will take up to three months to complete the study.
The NI 43-101 compliant Technical Report dated January 23, 2008 is available on SEDAR and on the company's website at www.goldenqueen.com.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.
Forward-Looking Statements: Certain statements included herein constitute forward-looking statements. Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the company's periodic filings with securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. For example, pricing assumptions for gold and silver in an economic analysis are subject to risks of significant fluctuations due to market conditions. In addition, readers are cautioned that base case and other gold and silver pricing assumptions used in a feasibility study may be at a significant discount to prevailing market prices. Forward looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the companies' business, including risks inherent in mineral exploration and development. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, should not to put undue reliance on forward-looking statements.
SOURCE Golden Queen Mining Co. Ltd.