Las Vegas, Nevada - Patriot Gold Corp. ("Patriot" or the "Company") (OTCQB:PGOL) announces that as a result of a review by the British Columbia Securities Commission ("BCSC"), the Company is issuing this news release to retract certain historical disclosure pertaining to the Bruner Property, which, as previously filed in press releases and posted on the Company's website was not compliant with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
On May 1, 2009 and September 12, 2012, the Company issued press releases in which a historical resource estimate pertaining to the Bruner Property did not comply with NI 43-101 as the Company did not disclose the source and date of such statement, the relevance and reliability of the historical estimate, the key assumptions, parameters and methods used to prepare the historical estimate, an explanation of the differences between the category of resource stated and current accepted categories of mineral resources and disclosure on what work needs to be done to upgrade or verify the historical estimate as a current mineral reserve or mineral resource, all as required by section 2.4 of NI 43-101.
After further review of the source information, the Company is unable to re-state the estimate in compliance with NI 43-101 requirements; consequently, the Company retracts the estimate described herein in its entirety. The Company advises and cautions readers that the retracted disclosure may continue to be found in the public domain.
Robert Coale is the Qualified Person (as defined by NI 43-101) who has reviewed and approved the technical information in this news release as it relates to the Bruner Property.
Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov.