Aug 22, 2013
Barisan Gold Provides Update on Abong Permitting
VANCOUVER, B.C. - August 22, 2013 - Barisan Gold Corporation (TSXV-BG) wishes to provide shareholders with an update on its permitting activities at the Abong gold project located in the Province of Aceh, Indonesia. In its July 15, 2013 press release, Barisan Gold announced that it had applied for a suspension of its Izin Usaha Pertambangan ("IUP") at Abong while it seeks formal support from the timber company, which controls the forestry and surface rights at Abong.
The regency government of Aceh Tengah granted its approval for the suspension, valid for an initial period of 1 year from July 19, 2013 to July 18, 2014. The suspension guarantees that Barisan Gold will have enough time to complete drilling and feasibility studies prior to the end of the 7-year exploration period as the suspension basically stops the clock.
Since then, Barisan Gold has made significant progress on the permitting situation at Abong. In late July, Barisan Gold received temporary support from the timber company, which allowed the Province of Aceh to complete its review of the forestry permit application. Subsequently, on August 19, 2013, Barisan Gold received formal support from the Province of Aceh, allowing Barisan Gold to proceed with its application for a borrow-use forestry permit at its Abong gold project with the Indonesian Ministry of Forestry.
The forestry permit application process is well detailed in Barisan Gold's investor presentation available on the company's website. Over the next few weeks and months, Barisan Gold will formally apply for the Abong forestry borrow-use permit with the Indonesian Ministry of Forestry as soon as it receives the required technical consideration from the Indonesian Ministry of Energy and Mineral Resources.
Dibiansyah Hamid, MAIG, the designated QP within the meaning of NI 43-101, has reviewed and approved the content of this release.
Neither 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.
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About Barisan Gold Corporation
Barisan Gold (BG-TSXV) is a Canadian-based minerals exploration company listed on the TSX Venture Exchange under the symbol "BG". The Company is engaged in the exploration, acquisition and development of mineral properties in Indonesia. Barisan Gold currently owns and operates two gold and gold-copper properties in Indonesia's Aceh Province on the northern tip of Sumatra Island, namely the Barisan gold-copper porphyry belt and the Abong epithermal gold project. Barisan Gold currently has 40,706,186 shares outstanding.
Caution Regarding Forward Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. These statements reflect management's current assumptions and expectations regarding future work programs at the Company's Upper Tengkereng Porphyry prospect, Abong Gold deposit, and the Company's financial position following the sale of the Collins prospect, results of any work programs, the Company's performance or events as of the date hereof and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation, the Company may not be granted necessary permitting to continue drilling at its Abong gold deposit, the interpretation of drill results and the estimation of mineral resources and reserves; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, permitting and licensing risks; and general market and mining exploration risks. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
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