MAPLE GROVE, Minn., Oct. 5, 2010 (GLOBE NEWSWIRE) -- Affinity Gold Corp. (Pink Sheets:AFYG) ("Affinity" or "the Company") is pleased to release a corporate update regarding the Company's progress over the previous 45 days as well as a look ahead to the coming months.
Since the prior Corporate Update released on August 18th, the Company has continued to take progressive steps towards meeting the core corporate goals set forth by President and CEO Mr. Corey Sandberg. "I continue to be pleased with the forward progress of Affinity and have become very excited about future opportunities as gold prices continue to make new all-time highs," he said.
On August 25th, the Company announced the appointment of Mr. Robert Miller as the new General Manager of the Company's Peruvian subsidiary. Mr. Miller possesses the management and leadership capabilities to assist in meeting the Company's goal of establishing small-scale alluvial mining operations in Peru.
A return visit to Peru is scheduled for late October in which Mr. Miller will lead Mr. Sandberg and a group of potential business partners from China on a tour of the Company's current and planned sites, which will include multiple stops in southeastern Peru.
The Company is also finalizing details on a mineral sampling program that is intended to be launched in mid-October. This program is intended to target certain concessions in southeastern Peru that the Company believes have the potential to possess gold mineralizations. The samples are intended to be submitted for assay testing and results are expected to be returned in late October or early November.
Internally, the Company has continued to implement new governance policies at the parent and subsidiary level. Furthermore, on September 1st, the Company announced the engagement of Hansen, Barnett, & Maxwell, P.C. as the new independent accounting firm. "I'm pleased to say that we've made the necessary arrangements to begin the work of becoming current in our filings and better position ourselves for a more favorable listing venue."
"Affinity will continue to place key people in leadership roles going forward. This gives me great confidence that the Company will continue on its path towards a successful future that will benefit our shareholders while having a positive impact on the communities in which we operate," said Mr. Sandberg.
About Affinity Gold Corp.:
Affinity Gold Corp. is a mineral exploration and development company engaged in the acquisition, exploration and development of gold mineralization properties internationally. Affinity Gold Corp.'s current primary focus is gold exploration in Peru.
Through its 99.99% owned subsidiary AMR Project Peru, S.A.C., Affinity Gold Corp. is the owner of the mining concession title named "AMR Project" covering 500 hectares and the mining concession certificate as evidenced by Certificate No. 7996-2006-INACC-UADA granted to AMR by the Republic of Peru, National Institute of Concessions and Mining Cadastre on December 11, 2006 (the "Mining Concession Rights").
For further information, please refer to the Company's filings with the SEC on EDGAR available at www.sec.gov
FORWARD-LOOKING STATEMENTS
This news release may include "forward-looking statements" regarding Affinity Gold Corp., and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Affinity Gold Corp. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Affinity Gold Corp. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
CONTACT: Affinity Gold Corp. +1-763-424-4754 info@affinitygold.com Barwicki Investor Relations Investor Relations Contact: andrew@barwicki.com +1-516-662-9461