VANCOUVER, BRITISH COLUMBIA--(Marketwire -02/09/12)- Sandstorm Metals & Energy Ltd. ("Sandstorm" or the "Company") (TSX-V: SND.V - News) is pleased to announce progress at Novadx Ventures Corp.'s ("Novadx") (TSX-V: NDX.V - News) Rosa Mine and Rex No. 1 Mine.
Recently, Novadx announced commercial production at the Rosa Mine. The Rosa wash plant is producing high quality metallurgical coal with contract prices currently in excess of $170 per ton.
At the Rex No. 1 mine, Novadx has commenced raw coal shipments to two customers on a trial basis while Novadx works towards the permitting and development of a coal preparation facility on site. During 2012, Novadx intends to complete mine rehabilitation and establish seven operating faces to support commercial production at the Rex No. 1 Mine.
ABOUT SANDSTORM METALS & ENERGY
Sandstorm Metals & Energy Ltd. is a growth focused resource based company that seeks to complete commodity purchase agreements with companies that have advanced stage development projects or operating projects. A commodity purchase agreement involves Sandstorm Metals & Energy making an upfront cash payment to its partners and in exchange, Sandstorm Metals & Energy receives the right to purchase a percentage of the commodity produced for the life of the asset, at a fixed price per unit. Sandstorm Metals & Energy helps other companies in the resource industry grow their business, while acquiring attractive assets in the process.
Sandstorm Metals & Energy is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm Metals & Energy has completed commodity purchase agreements with Novadx Ventures Corp., Royal Coal Corp., Terrex Energy Inc., Donner Metals Ltd. and Thunderbird Energy Corp.
For more information visit: http://www.sandstormmetalsandenergy.com.
Cautionary Note Regarding Forward-Looking Information
Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information is based on reasonable assumptions that have been made by Sandstorm as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Sandstorm to be materially different from those expressed or implied by the forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which Sandstorm will purchase gold and risks related to those mining operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; problems inherent to the marketability of minerals; industry conditions, including fluctuations in the price of metals, fluctuations in foreign exchange rates and fluctuations in interest rates; stock market volatility; competition; as well as those factors discussed in the section entitled "Risks to Sandstorm" in Sandstorm's annual report for the financial year ended December 31, 2010. Although Sandstorm has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Sandstorm does not undertake to update any forward-looking information that is contained or incorporated by reference herein, except in accordance with applicable securities laws. Sandstorm does not provide any representation as to its comparability with other companies in its industry including, but not limited to, Silver Wheaton Corp., Royal Gold, Inc., and Franco-Nevada Corporation.
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.