TORONTO, ONTARIO--(Marketwired - Jun 28, 2013) - CASTILLIAN RESOURCES (TSX VENTURE:CT)(CTIIF) (the "Company") has changed its name to Coastal Gold Corp. and will begin trading today on the TSX Venture Exchange under the new trading symbol "COD".
The name change follows completion of the merger of the Company with Ridgemont Iron Ore Corp. announced in the press release issued by the Company and Ridgemont Iron Ore earlier today. The shareholders of the Company approved the name change at the Annual and Special Meeting of Shareholders held on June 25, 2013.
Dr. Bill Pearson, P.Geo., President and CEO of Coastal Gold commented: "Our new name reflects our focus on continuing to advance our Hope Brook Gold Project in southwest Newfoundland. Planning for the next drill program is advancing well. This program will focus on expanding and increasing the grade of potentially open pittable resources as well as completing the technical and engineering work for a Preliminary Economic Assessment (PEA). The PEA is targeted to be completed in early 2014."
Other changes relating to the new company name include a newly branded look to represent the refreshed focus of the Company on its Hope Brook Project in Newfoundland, a new website launched today at www.coastalgold.ca, and an updated Twitter feed, Facebook page and LinkedIn Profile. Coastal Gold will continue to trade on the OTCQX under an updated trading symbol, which will be communicated in the coming weeks.
ABOUT COASTAL GOLD
Coastal Gold is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "COD". Coastal Gold's flag ship property is the Hope Brook Gold Project located in southwestern Newfoundland, which has 12.4 million tonnes at 1.48 g Au/t for 590,000 ounces of indicated mineral resources and 8.2 million tonnes at 2.07 g Au/t for 548,000 ounces of inferred mineral resources (see technical report entitled "Updated Mineral Resource Estimate Technical Report, Hope Brook Gold Project, Newfoundland and Labrador, Canada", effective October 1, 2012).
Dr. Bill Pearson, P.Geo., President and CEO of Coastal Gold, who is a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this press release.
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding exploration plans and the estimation of mineral resources. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company 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 statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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