Sandstorm Metals & Energy Provides Gordon Creek Update
VANCOUVER, BRITISH COLUMBIA, Nov 21, 2012 (Menafn - MARKETWIRE via COMTEX) --Sandstorm Metals & Energy Ltd. ("Sandstorm" or the "Company") (tsxventure:SND) is pleased to announce that Thunderbird Energy Corp.("Thunderbird") has substantially completed theinfrastructure build-out at the Gordon Creek property located inUtah, USA. The well sites are prepared and equipped and the processof bringing the first 8 wells online has begun through Thunderbird'supgraded compression facility. Although issues with certain suppliershave caused minor delays in recent weeks, Thunderbird and Sandstormare encouraged by the progress of the operations and anticipateproviding a further update in December once all of the wells areonline and initial production rates have begun to stabilize.
Thunderbird has also acquired four sections of new mineral leases inthe Gordon Creek area representing a 20% increase in the Gordon Creekland position. This new acreage adds up to 18 new locations andbrings the undrilled location inventory to approximately 85 (based ona 4 well per section density). Of the 85 locations, 47 are surveyedand in the advanced stages of surface acquisitions, permitting andlicensing.
Sandstorm has a natural gas stream agreement with Thunderbird topurchase 35% of all natural gas produced from the first 50 wellsdrilled at Gordon Creek with an option to participate in additionalwells. Sandstorm will purchase the natural gas at US1.00 per Mcf ofgas delivered plus 20% of the market price received above US4.00 perMcf.
ABOUT SANDSTORM METALS & ENERGY
Sandstorm Metals & Energy Ltd. is the world's first diversifiedstreaming company. Sandstorm provides upfront financing to resourcecompanies that are looking for capital and in return, receives acommodity streaming agreement. This agreement gives Sandstorm theright to purchase a percentage of the commodity produced, for thelife of the asset, at a fixed price. Sandstorm has acquired aportfolio of seven commodity streams in copper, palladium, oil,natural gas and coal. Sandstorm plans to grow its production basethrough the acquisition of additional commodity streams.
Sandstorm Metals & Energy is focused on low cost operations withexcellent exploration potential and strong management teams.Sandstorm has completed commodity purchase agreements with ColossusMinerals Inc., Donner Metals Ltd., Novadx Ventures Corp., TerrexEnergy Inc., and Thunderbird Energy Corp.
For more information visit: www.sandstormmetalsandenergy.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Except for the statements of historical fact contained herein, theinformation presented constitutes "forward-looking information" or"forward-looking statements" within the meaning of applicableCanadian securities legislation. Forward-looking statements cangenerally be identified by the use of forward-looking terminologysuch as "may", "will", "expect", "intend", "estimate", "anticipate","believe", "continue", "plans", or similar terminology.Forward-looking information is based on reasonable assumptions thathave been made by Sandstorm as at the date of such information and issubject to known and unknown risks, uncertainties and other factorsthat may cause the actual results, level of activity, performance orachievements of Sandstorm to be materially different from thoseexpressed or implied by the forward-looking information, includingbut not limited to: the impact of general business and economicconditions; the absence of control over operations from whichSandstorm will purchase commodities and risks related to thoseoperations, including risks related to international operations,government and environmental regulation, actual results of currentexploration activities, conclusions of economic evaluations andchanges in project parameters as plans continue to be refined;problems inherent to the marketability of commodities; industryconditions, including fluctuations in the price of commodities,fluctuations in foreign exchange rates and fluctuations in interestrates; stock market volatility; competition; as well as those factorsdiscussed in the section entitled "Risks to Sandstorm" in Sandstorm'sannual report for the financial year ended December 31, 2011.Although Sandstorm has attempted to identify important factors thatcould cause actual results to differ materially from those containedin forward-looking information, there may be other factors that causeresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate, asactual results and future events could differ materially from thoseanticipated in such information. Accordingly, readers should notplace undue reliance on forward-looking information. Sandstorm doesnot undertake to update any forward-looking information that iscontained or incorporated by reference herein, except in accordancewith applicable securities laws. Sandstorm does not provide anyrepresentation as to its comparability with other companies in itsindustry including, but not limited to, Franco-Nevada Corporation,BHP Billiton and Rio Tinto.
Neither the 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.
Sandstorm Metals & Energy Ltd.
President & Chief Executive Officer
Sandstorm Metals & Energy Ltd.
Investor Relations Contact
SOURCE: Sandstorm Metals & Energy Ltd.
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