Norman Cay Development Provides Corporate Update and Outlook for 2012

STEVENSVILLE, Mich., May 17, 2012 /PRNewswire/ -- Norman Cay Development, Inc. (OTCQB: NCDL) ("Norman Cay" or the "Company"), an emerging international gold exploration and development company, is pleased to provide this corporate update and outlook for the remainder of 2012.       

"During the last few months, Norman Cay has made significant progress in its business plan toward the exploration of its highly prospective Edum Banso Gold Project.  The Company is now better positioned to move forward, after having added Ralph Shearing, a veteran geologist, to the project team and laying out a multi-stage exploration program to follow up geophysical and gold geochemical anomalies identified by the prior operators," said Steve Flechner, the newly appointed president of Norman Cay Development.  "Furthermore, the Company has submitted the remaining documents necessary for final mineral concession option rights assignment approval from Ministry of Lands and Natural Resources in Ghana and also connected with Ghana-experienced technical consulting firms in preparation for conducting the planned exploration program.  The next several months are expected to be very productive and we anticipate announcing detailed exploration work plans and schedules as soon as the necessary funding is achieved."

Phase I of the 2012 exploration program at the Edum Banso Gold Project is currently planned to consist of detailed geological mapping, soil sampling, assaying, and data analysis to confirm previous exploration work and determine optimal locations for Phase II trenching and auger sampling.  Phase II should identify the bedrock sources of known gold geochemistry in preparation for a potential 15-30 hole drill program expected to follow as Phase III.  The Company expects Phase I exploration to take approximately 60 days to complete and an additional 30 days for testing and analysis.  The Company's exploration expenditures for Edum Banso are planned to reach about $970,000 over the next 12 months.  These planned exploration programs are subject to change based on the availability of sufficient funding, recommendations from the Ghana-experienced technical consulting firm, and the timing of rainy season conditions. 

The 2012 Edum Banso Gold Project exploration program is designed to be a continuation of previous work conducted on the concession by Newmont Gold (2004) and Xtra-Gold Resources (2008) which included extensive geophysical (aeromagnetic) interpretation, soil and stream sediment sampling (5,782 samples), trenching (319 meters), auger drilling (252 holes), and rock chip sampling (81 samples).  To date, four distinct mineralized gold zones have been identified over an area approximately 8 km long and 600 m wide, including two southern zones sharing contact with the unique Mpohor Complex mafic intrusions.  The Mpohor Complex also hosts the producing HBB Father Brown and Adoikrom open pit gold deposits of Golden Star Resources located less than 1km to the southeast.

Further updates regarding the Edum Banso Gold Project and other Norman Cay business will be made as additional information becomes available.

About Norman Cay Development

Norman Cay Development, Inc. is an emerging U.S. based mineral exploration company offering shareholders the opportunity to participate in the ownership of high-potential international gold exploration and development.  The Company's wholly-owned subsidiary, Discovery Gold Ghana Limited, holds a 65% interest in the exclusive rights to explore and develop the Edum Banso Gold Project within the historic Ashanti Gold Belt in Ghana.

For further information regarding Norman Cay Development, Inc., contact:

LiveCall Investor Relations
Gerry Belanger, (855) 490-9700 (Toll-free)
E-mail: [email protected]

Forward-Looking Statements

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions.  Norman Cay Development, Inc. (the "Company") bases these forward-looking statements on current expectations and projections about future events, based on information currently available.  Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements.  The Company has no mineral resource or reserve estimate for the Edum Banso Gold Project at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties.  The Company disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

SOURCE Norman Cay Development, Inc.