Talison Lithium to Report Fiscal Fourth Quarter and Full Year 2011 Financial Results on September 12

September 02, 2011 08:13 ET

Conference Call at 9:00 a.m. EST -

PERTH, WESTERN AUSTRALIA 
(Marketwire - Sept. 2, 2011)

  Talison Lithium Limited (TSX:TLH) announced today that it will release financial results for the fiscal fourth quarter and full year 2011 before the market open on Monday, September 12, 2011. An investor conference call will be held at 9:00 a.m. EST. Peter Oliver, Chief Executive Officer and Managing Director, and Lorry Mignacca, Chief Financial Officer, will host the call.

Investors in North America interested in participating in the live call should dial +1 (800) 295-4740 and enter passcode: 56641749. Those calling from outside North America should dial +1 (617) 614-3925 and use the same passcode. A telephone replay will be available approximately two hours after the call concludes through Tuesday, September 20, 2011 by dialing +1 (888) 286-8010 from North America, or +1 (617) 801-6888 from outside North America, and entering passcode: 69190363.

There will also be a simultaneous live webcast and presentation used during this call that will be available on the Company's website at www.talisonlithium.com.

About Talison Lithium
Talison Lithium Ltd. (TSX: TLH | US: TLTHF) mines and processes lithium bearing mineral spodumene at Greenbushes near Perth, Western Australia. The company produces a range of lithium concentrates that are distributed to a well-established global customer base, including China.

The Greenbushes ore body is a highly mineralised zoned pegmatite with a
strike length of more than 3km. The Greenbushes Lithium Operations Mineral Reserve is unique among known lithium deposits in that it contains approximately 50% spodumene.

The Greenbushes Lithium Operations have two processing plants located at
the mining operations. One plant produces technical-grade lithium concentrates, the other produces chemical-grade lithium concentrate. 

In September 2010, Talison Lithium merged with Salares Lithium Inc which gave it exposure to prospective lithium brine projects in Chile.

Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release, including any information as to Talison's strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, may constitute "forward-looking information" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, constitute forward-looking information. Forward-looking information can often, but not always, be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words, or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. The purpose of forward-looking information is to provide the reader with information about Talison's expectations and plans. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.
Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Talison, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such factors, estimates and assumptions include, but are not limited to: anticipated financial and operating performance of Talison, its subsidiaries and their respective projects; Talison's market position; future prices of lithium or lithium concentrates; estimation of mineral reserves and mineral resources; realization of mineral reserve and mineral resource estimates; timing, amount and costs of estimated future production; grade, quality and content of concentrate produced; sale of production; capital, operating and exploration expenditures; costs and timing of the expansion of the Greenbushes Lithium Operations; exploration and development of the Salares 7 lithium project; costs and timing of future exploration; requirements for additional capital; government regulation of exploration, development and mining operations; environmental risks; reclamation and rehabilitation expenses; title disputes or claims; absence of significant risks relating to Talison's mining operations; the costs of Talison's hedging policy; sales risks related to China; currency; interest rates, and limitations of insurance coverage. While Talison considers these factors, estimates and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Talison and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risk factors include, among others, those described in the unaudited interim consolidated financial statements of Talison and the related notes thereto as at and for the three and nine month interim periods ended March 31, 2011 dated May 11, 2011 and under the heading "Risk Factors" in the annual information form of Talison for the year ended June 30, 2010 dated January 12, 2011 and in the short form prospectus of Talison dated February 8, 2011, each of which can be found on Talison's SEDAR profile at www.sedar.com. While Talison considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
Although Talison has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this press release based on the opinions and estimates of Talison on the date statements containing such forward-looking information are made. Except as required by law, Talison disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking 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.

Contact Information

• 
  
  ICR, LLC.
  Gary Dvorchak, CFA
  Senior Vice President
  Investor Relations Consultant
  +1 (310) 954-1123
  Gary.Dvorchak@icrinc.com
  
  

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• Dundee Securities Ltd. Initiates Analyst Coverage of Rodinia Lithium Inc. - targets an increase of 175% (retirefunds.blogspot.com)

Talison Lithium trades on the Toronto Stock Exchange under the symbol TLH.
and on the OTCBB as TLTHF
 
Talison is not yet listed on the NYSE or HKSE.

Rodinia Lithium getting on Analysts radar screens!

Rodinia Lithium Inc.

TSX VENTURE : RM
OTCQX : RDNAF

August 2011

Salman Partners Inc. Initiates Analyst Coverage of Rodinia Lithium Inc.

TORONTO, ONTARIO--(Marketwire - Aug. 23, 2011) - Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM)(OTCQX:RDNAF) is pleased to announce that Salman Partners Inc. ("Salman") has initiated analyst coverage of Rodinia. For further information, please contact Mr. Ray Goldie at Salman. Mr. Goldie can be reached by email at rgoldie@salmanpartners.com or by telephone at (416) 214-2749.

About Rodinia Lithium Inc.:

Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.

Rodinia's Salar de Diablillos lithium-brine project in Salta, Argentina, contains a resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent. The project contains an inferred resource of 952,553,000 m³ grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2011, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through scoping study.

The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada's lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit. The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43‐101 and has reviewed and approved the scientific and technical information contained in this press release.

Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com.

Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the initiation of the analyst coverage, impact of the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; anticipated timing with respect to the completion of a preliminary economic assessment, the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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.

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Ballard Power to lease space to Daimler for Fuel Cell vehicle development!

Ballard Completes Optimization of Production Space and Commences Sub-Lease with Daimler

 Aug , 2011 by CNW Group

 Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) confirmed today that it has completed consolidation and optimization of product development and production space in its specialized fuel cell manufacturing facilities located in Burnaby, British Columbia. Ballard has also commenced the previously announced sub-lease of space, representing approximately 38% of the facility, to Daimler AG (Daimler) for use in manufacturing fuel cells for its fuel cell car programs.

Surplus space was created as a result of Ballard's progress over the past several years in implementing automated and continuous manufacturing processes for the Company's fuel cell products. A key driver in this context has been the introduction of continuous lamination equipment, which cuts and assembles components of Ballard's proprietary technology, resulting in a 10-fold increase in production while using about 10% of the physical floor space previously required.

Paul Cass, Ballard's Vice-President of Operations said, "We completed this work on-time, which also enabled the sub-lease of space to Daimler to proceed as scheduled. With the evolution of automated and continuous manufacturing we will be able to produce one-hundred megawatts of fuel cell product annually in this smaller footprint, seeing us through 2013 with no further investment in manufacturing capacity."
With the Daimler sub-lease, Ballard expects annual savings of approximately $1 million in real estate and related overhead costs. This lower cost manufacturing model is a further enabler on the Company's path to profitability.

Ballard will continue supplying its FCvelocity(TM )products for Daimler's fuel cell car and bus programs until the end of the current supply agreement. In addition, Ballard will continue supplying Automotive Fuel Cell Cooperation (AFCC), a private company majority-owned by Daimler, with contract manufacturing and technical engineering services.

About Ballard Power Systems Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) provides clean energy fuel cell products enabling optimized power systems for a range of applications. Products are based on proprietary esenciaTM technology, ensuring incomparable performance, durability and versatility. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements, including anticipated manufacturing capacity, cost savings and operational plans, which are provided to enable external stakeholders to understand Ballard's expectationsas at the date of this release and may not be appropriate for other purposes. These forward-looking statements are based on the beliefs and assumptions of Ballard's management and reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such assumptions relate to Ballard's financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand, and include matters such as generating new sales, producing, delivering and selling the expected number of units, and controlling its costs.

These statements involve risks and uncertainties that may cause Ballard's actual results to be materially different, including, without limitation, the condition of the global economy, the rate of mass adoption of its products, product development delays, changing environmental regulations, its ability to attract and retain business partners and customers, its access to funding, increased competition, its ability to protect its intellectual property, changes in its customers' requirements, foreign exchange impacts on its net monetary assets and its ability to provide the capital required for product development, operations and marketing. For a detailed discussion of these risk factors and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form.

Readers should not place undue reliance on Ballard's forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward looking statements, other than as required under applicable legislation.

Further Information Public Relations: Guy McAree, +1.604.412.7919,media@ballard.com Investor Relations: Lori Rozali, +1.604.412.3195,investors@ballard.com
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/24/c6053.html
SOURCE: Ballard Power Systems Inc.

Public Relations: Guy McAree, +1.604.412.7919,media@ballard.com Investor Relations:
Lori Rozali, +1.604.412.3195,investors@ballard.com

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Meet the king of Seabed mining

Nautilus Minerals Inc.

TSX : NUS
AIM : NUS

August 15, 2011 08:16 ET

Nautilus Minerals Reports Solid First Half Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2011) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) achieved a series of important operational milestones in its pioneering seafloor production project during the first six months of 2011, and ended the period with a healthy cash balance of US$112 million.
The highlights of the half-year were as follows:

• In January, the PNG (Papua New Guinea)  Government granted Nautilus a Mining Lease to enable production at the company's first development project at Solwara 1, in the Bismarck Sea. The lease provides Nautilus with a 20 year license to mine an area of approximately 59 km² surrounding Solwara 1, 50 km north of Rabaul, where Nautilus intends to mine high-grade copper and gold deposits on the seafloor, at depths of approximately 1600 metres. (For the full release see Links section below) 
• In March, the PNG Government confirmed its intention to take a 30% stake in the Solwara 1 project as a joint venture partner. The Government will contribute funds to the project in proportion to its interest, including its share of the exploration and development costs incurred to date. The initial contribution to be made by the Government's nominee, Petromin PNG Holdings Limited, will be approximately US$24 million. The audit of the final amount has recently been completed with payment to be made in accordance with detailed project agreements being finalised by the parties.
• In April, the company announced an agreement to form a joint venture with German shipping company Harren & Partner, to own and operate a production support vessel which will serve as the operational base for Nautilus at Solwara 1. Under the terms of the strategic partnership, Harren will design and construct the vessel at a cost of approximately EUR127 million, with delivery scheduled for the first half of 2013.
• And in May, the company completed a major exploration drilling campaign in the Bismarck Sea, which has delivered an enhanced understanding of the Solwara 1 deposit and identified potential subsequent development sites.

Since the end of the first half, the company has also announced two major advances in exploration.

• Nautilus Minerals' Tongan subsidiary, Tonga Offshore Mining Ltd. (TOML), became one of the first private sector organisations to be granted exploration licences in the highly prospective Clarion Clipperton Zone (CCZ) of the Eastern Pacific in July. Sponsored by the Tongan Government, TOML was granted approximately 75,000 km² of prime exploration territory in the CCZ, which lies in international waters between Hawaii and Mexico. As a result of exploration conducted in the 1980s, the CCZ is known to host hundreds of millions of tonnes of polymetallic nodules, rich in copper, nickel, manganese and cobalt, lying on the seafloor in water depths starting at 4500 metres.
• The Fijian government this month granted Nautilus 14 special prospecting licences in its territorial waters, covering a total of approximately 60,000 km² of highly prospective territory. Nautilus is the first private sector organisation to be granted offshore exploration permits in Fiji.

Following the continued extensive investment in the development phase of the Solwara 1 project during the six months to June, the company today announced a first half loss of US$7.98 million, which was significantly reduced from US$18.75 million in the six months to June 2010.
The reduction in losses was largely a result of the company capitalising exploration and evaluation expenditure at Solwara 1 following receipt of the Mining Lease in January.
The net cash position remained strong at US$112 million at the end of the period, following additional investment of US$42 million in plant & equipment and mineral properties during the six months.
"Nautilus made excellent progress in the first half of 2011, achieving a number of important milestones," said CEO Steve Rogers.
"Our financial position remains healthy and strong global commodity prices continue to enhance the business proposition. Significant value has been added over recent months as our exploration programs have yielded encouraging results, and we have gained additional highly prospective exploration territory in Fiji and International waters.
"We look forward to the delivery of components for our seafloor production equipment and the announcement of a resource update in the second half of the year," he said.
Conference Call
A Conference Call and Webcast will be held on Tuesday, August 16, 2011 at 9:00 a.m. EDT (Toronto), 2:00 p.m. BST (London).
Webcast link:
http://www.media-server.com/m/p/b33wpd55
Dial-in numbers:
International Dial In: +61 2 8524 6650
Australia: 1800 148 258
Canada: 18668374489
United Kingdom: 08000569662
United States of America: 18665862813
If your country dial-in number is not included here please email nmd@nautilusminerals.com.
A presentation to support the conference call will be posted on http://www.nautilusminerals.com for download by 8:30 a.m. EDT (Toronto) on Tuesday, August 16, 2011.
Links
Nautilus Granted Mining Lease
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=437932
The Financial Statements and Management's Discussion and Analysis have been filed on www.sedar.com and are also available on the Company's website www.nautilusminerals.com/s/Investors-Financials.asp.
Nautilus Minerals Inc.
Nautilus is the first company to commercially explore the ocean floor for polymetallic seafloor massive sulphide deposits and is currently developing its first project at Solwara 1, in the territorial waters of Papua New Guinea.
Nautilus is listed on the TSX and AIM stock exchanges, and has among its largest shareholders two of the world's leading international resource companies Anglo American (11.1%) and Teck Resources (6.8%), as well as Metalloinvest, one of the largest and fastest growing mining and metallurgical holding companies in Russia, which beneficially owns 21% of the Company's issued shares through Gazmetall Holding (Cyprus) Limited.
Certain of the statements made in this news release may contain forward-looking statements within the meaning of the United States Securities Exchange Act of 1934 and forward-looking information within the meaning of applicable Canadian securities law. Forward-looking statements and forward-looking information include, but are not limited to statements or information with respect to the formation of a joint venture with Harren & Partner, the delivery of the PSV in the first half of 2013 for a price of US$171 million and the finalisation of project agreements with Petromin PNG Holdings Limited. We have made numerous assumptions about the material forward-looking statements and information contained herein, including among other things, that the joint venture partners will continue to negotiate with Nautilus and the negotiations will be successfully concluded, Even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Forward-looking statements and information by their nature involve known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking statements or information. Such risks, uncertainties and other factors include, among others, the risk that the conditions precedent to the agreement with Harren & Partner will not be satisfied, that agreements with Petromin are not successfully concluded or that the exploration and special prospecting licences obtained in the Clarion Clipperton Zone and Fiji respectively are not highly prospective. Should one or more of these risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements and information. Although we have attempted to identify factors that would cause actual results to differ materially from those described in forward-looking statements and information, there may be other factors that cause actual results, performances, achievements or events to not be as anticipated, estimated or intended. Also, many of the factors are beyond our control. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly you should not place undue reliance on forward-looking statements or information. Except as required by law, we do not expect to update forward-looking statements and information as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada.

Neither the TSX nor the London Stock Exchange accepts responsibility for the adequacy or accuracy of this press release.

Contact Information

• 
  
  Nautilus Minerals Inc. (Toronto)
  Investor Relations
  +1 (416) 551 1100
  investor@nautilusminerals.com
  
  Nautilus Minerals Inc.
  Joe Dowling
  Vice President Investor Relations and Communications
  +61 (7) 3318 5544 or Cell: +61 431 365 741
  jjd@nautilusminerals.com
  www.nautilusminerals.com
  
  Numis Securities Limited
  John Harrison
  Nominated Adviser
  + 44(0) 20 7260 1000
  
  Numis Securities Limited
  James Black
  Corporate Broking
  + 44(0) 20 7260 1000
  
  

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San Gold Reports Record-Low Total Cash Costs on Record Gold Production, Revenue, and Cash Flow from Operations

San Gold Corporation

TSX : SGR
OTCQX : SGRCF

August 15, 2011 06:00 ET

WINNIPEG, MANITOBA--(Marketwire - Aug. 15, 2011) -
(All amounts are in Canadian dollars, unless stated otherwise)
San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) ("San Gold" or the "Company") reports financial and operating results for the second quarter of 2011.

Second Quarter 2011 Highlights:

• Recognized record revenue of $28.4 million on gold sales of 19,276 ounces.
  
• Generated operating income from operations of $7.6 million, or $0.03 per share.
  
• Achieved record gold production of 20,111 ounces.
  
• Record-low total cash costs of $820 per ounce of gold sold.
  
• Realized a record cash operating margin of $655 per ounce of gold sold.
  
• Achieved record average mill throughput of 1,260 tons per day.
  
• Reported a total and comprehensive loss of $4.0 million, or $0.01 per share.
  
• Cash and cash equivalents balance of $37.7 million as at June 30, 2011.
  
  
• Appointed Mr. Jeremy Link as Vice-President, Corporate Development. Promoted Eric Setchell to Mine General Manager.
  
  
• Appointed two experienced directors to the Board of Directors, Mr. Michael Anderson and Mr. Stephen Harapiak.
  
  
• Achieved a new safety milestone of 500,000 man hours without a lost time accident.
  
  

"I am very pleased with this quarter's financial and operating results," stated George Pirie, President and Chief Executive Officer of San Gold. "The Company generally reported record financial results with higher revenue, cash flow from operations, and income from operations relative to prior periods. Today's results also confirmed our belief that the operational improvements implemented over the past two years would result in increased productivity leading to higher production and lower costs, as evidenced by record gold production and record-low total cash costs. I am also pleased to report that we remain on track to deliver on our full-year guidance of 80,000 ounces at an average total cash cost of $825 per ounce of gold."

This press release should be read in conjunction with the Company's consolidated financial statements for the quarter ended June 30, 2011 and associated Managements' Discussion and Analysis ("MD&A"), which are available from the Company's website (www.sangold.ca), in the "News & Reports" section under "Financial Statements", and on SEDAR (www.sedar.com).

Review of Financial Results
Record gold sale revenues in the second quarter of 2011 of $28.4 million on the sale of 19,276 ounces were 126% higher than revenues of $12.6 million recognized in the second quarter of 2010. The increase in gold sales revenue in the second quarter of 2011 is a result of a 61% increase in the number of ounces sold and a 40% increase in the average realized gold price compared to the second quarter of 2010.
The Company generated record cash flows from operating activities before changes in non-cash working capital of $3.0 million ($0.01 per share), compared to a use of $2.4 million ($0.01 per share) in the second quarter of 2010. After changes in non-cash working capital, operating activities used $10.5 million ($0.03 per share) in the second quarter of 2011, a substantial change from $5.5 million ($0.02 per share) generated in the second quarter of 2010.

Income from operations in second quarter of 2011 was $7.6 million ($0.02 per share), a substantial improvement relative to a loss from operations of $2.0 million ($0.01 per share) in the same period of 2010. Income from operations in the second quarter also represents an increase of 137% from income from operations of $3.2 million in the first quarter of 2011. Relative to prior periods, the increase in income from operations in the second quarter of 2011 is attributable to higher cash operating margins of $655 per ounce, resulting from lower total cash operating costs and higher realized gold prices.

After exploration, general and administrative, and other net expenses, total and comprehensive loss in the second quarter of 2011 improved by 50% to $4.0 million ($0.01 per share), compared to a $7.9 million ($0.03 per share) in the same period of 2010.

Capital spending in the second quarter of 2011 was focused on increasing mill capacity, improving key infrastructure, and sustaining capital. Investments in operating capital and development activities were $4.1 million in the second quarter of 2011.
Key financial metrics for the second quarter of 2011 compared to the second quarter of 2010are presented at the end of this press release in Table 1.

Review of Operational Results
The Company's Rice Lake, Hinge, and 007 mines (the "Rice Lake Project") produced a record of 20,111 ounces during the second quarter of 2011, an increase of 119% relative to gold production of 9,188 ounces in the second quarter of 2010 and 37% higher than gold production of 14,688 ounces in the first quarter of 2011. Gold production in the first half of 2011 increased 61% to 34,799 ounces compared to gold production of 21,650 ounces in the first half of 2010.

In the second quarter of 2011, total cash operating costs were $820 per ounce of gold sold, slightly below full year guidance of $825, and a 24% reduction from $1,084 in the second quarter of 2010. These lower total cash operating costs, combined with a realized gold price of $1,475 per ounce, resulted in a cash operating margin of $655 per ounce in the second quarter of 2011.

Year-to-date gold production of 34,799 ounces is in-line with the Company's full year 2011 production guidance of 80,000 ounces. Year-to-date total cash cost per ounce of gold sold of $832also is in-line with full-year guidance of $825.
Key operational metrics and production statistics for the second quarter of 2011 compared to the trailing three quarters are presented at the end of this press release in Table 2.
Outlook
In the first half of 2011, the Company achieved record operating performance with quarterly gold production of 14,688 and 20,111 ounces in the first and second quarters of 2011, respectively, for year-to-date production of 34,799 ounces. Record quarterly production was accompanied by record-low total cash costs per ounce of gold sold of $862 and $820 in the first and second quarters of 2011, respectively. On a year-to-date basis, total cash costs per ounce of gold sold of $832. The increase in crushing and milling capacity, the implementation of more cost-effective mining methods, and the general debottlenecking of operations contributed to the substantial increase in gold production and the reduction in total cash operating costs per ounce.

Production is forecast to continue to incrementally increase throughout the second half of the year and result in full year gold production of 80,000 ounces at an average total cash cost of $825 per ounce sold. Higher gold production is expected be driven by an increase in daily throughput from the second quarter average rate of 1,260 tons per day to a year-end exit rate of approximately 1,600 tons per day. Concurrent with the production increases, total cash operating costs are expected to continue to decline throughout the remainder of the year and are forecast to exit the year at a total cash operating cost approaching $650 per ounce.
At current gold prices and production volumes, cash flow from operations, and cash-on-hand is expected to be sufficient to fund the Company's mill expansion plans, additional operations projects to increase activity levels, and an aggressive 300,000-metre exploration drilling program.

Exploration activities in the second half of 2011 will continue to focus on definition and extension drilling at the Company's recently identified Shoreline Basalt Unit for both production planning and exploration purposes. The Shoreline Basalt Unit is a system of stacked lenses, including the L10, 007, Cohiba, and Emperor zones. This unit has a strike length of more than two kilometres, a plunge that has been traced to over 1,400 metres from surface, and remains open along strike and to depth. The objective of the Company's exploration programs is to develop a larger mining complex that can be exploited through existing infrastructure. The Company plans to report an updated Mineral Resource and Reserve Statement in 2012.

With rising production and declining total cash operating costs, combined with a strong gold-price environment, the Company has positioned itself to finance its existing mining and exploration plans, as well as grow through potential acquisitions and new discoveries.
Reminder of Second Quarter 2011 Financial Results Conference Call and Webcast
The Company's senior management plans to host a conference call today, Monday, August 15, 2011 at 11:00 am Eastern Standard Time to discuss the 2011 second quarter financial results, and to provide an update of the Company's operating, exploration, and development activities.
Participants may join the conference call by dialing 1 (888) 231-8191 or 1 (647) 427-7450 for outside Canada and the United States. The conference call will also be available by webcast at the following link: www.newswire.ca/en/webcast/viewEvent.cgi?eventID=3595460.

A recorded playback of the conference call can be accessed after the event until August22, 2011 by dialing 1 (800) 642-1687 or 1 (416) 849-0833 for calls outside Canada and the United States. The pass code for the conference call playback is 81672417. The archived audio webcast will also be available on the Company's website at www.sangold.ca.
About San Gold
San Gold is an established Canadian-based gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba. The Company employs more than 400 people and is committed to the highest standards of safety and environmental stewardship. The Company has over $40 million in cash and equivalents and is unhedged to the price of gold. As of August 1, 2011, San Gold has 310,966,175 common shares outstanding (327,360,186 shares fully diluted), which are traded on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
For further information on San Gold, please visit www.sangold.ca.
Cautionary Non-IFRS Statements
The Company believes that investors use certain indicators to assess gold mining companies. They are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared with International Financial Reporting Standards ("IFRS"). "Total cash operating costs" as used in this analysis is a non-IFRS term typically used by gold mining companies to assess the level of gross margin available to the Company per ounce of gold by subtracting these costs from the unit price realized during the period. This non-IFRS term is also used to assess the ability of a mining company to generate cash flow from operations. There may be some variation in the method of computation of "total cash operating costs" as determined by the Company compared with other mining companies. In this context, "total cash operating costs" reflects the per ounce cash costs allocated from in-process and dore inventory associated with ounces of gold sold in the period and net royalties. "Total cash operating costs" may vary from one period to another due to operating efficiencies, quantity of ore processed, grade of ore processed, and gold recovery rates.
Cautionary Note
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of precious metals, as well as those factors discussed in the section entitled "Other MD&A Requirements and Additional Disclosure and Risk Factors" in the Company's most recent quarterly Management's Analysis and Discussion ("MD&A"). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements 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 statements.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.

Table 1: Financial Highlights
	Q2		Q2		YTD		YTD
	2011		2010		2011		2010
Total and Comprehensive Loss (000)	($3,973	)	($7,919	)	($9,308	)	($10,641	)
Items not affecting cash (000)	$6,940		$5,564		$12,784		$4,156
Cash provided (used) by operating activities before changes in non-cash working capital (000)	$2,967		($2,355	)	$3,476		($6,485	)
Net change in non-cash working capital (000)	($13,514	)	$7,806		($9,578	)	$4,831
Cash provided by operating activities (000)	($10,547	)	$5,451		($6,102	)	($1,654	)
Total and Comprehensive Loss (000)	($3,973	)	($7,919	)	($9,308	)	($10,641	)
Loss per share
- basic and diluted	$0.01		$0.03		$0.03		$0.04
Weighted average number of common shares outstanding
- basic and diluted	309,871,490		277,374,958		306,105,249		272,983,117

Table 2: Operating Highlights
	Q2		Q2		Change		Change
	2011		2010		(#)		(%)
Ore milled (tons)	114,624		58,098		56,526		97	%
Head grade (g/tonne Au)	6.35		5.90		0.45		8	%
Contained gold (ounces)	21,244		9,996		11,248		113	%
Ounces of gold produced	20,111		9,188		10,923		119	%
Ore mined (tons)	123,261		63,323		59,938		95	%
Ore milled per day (tons)	1,260		638		621		97	%
Ore mined per day (tons)	1,355		696		659		95	%
Mill recovery (%)	95	%	93	%	2		2	%

The TSX or the OTCQX have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

Contact Information

San Gold Corporation
Tim Friesen
Director, Communications
+1 (204) 772-9149 ext. 202

San Gold Corporation
Jeremy Link
Vice-President, Corporate Development
+1 (416) 214-0024 ext. 201
www.sangold.ca

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Nautilus Minerals Granted more Exploration Tenements, this time in Fijian Waters

Nautilus Minerals Inc.
TSX : NUS
AIM : NUS

August 11, 2011 09:24 ET

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2011) - Nautilus Minerals Inc (TSX:NUS)(AIM:NUS) has become the first private sector organisation to be granted offshore exploration licences in Fiji.

The Fijian Government has granted the company 14 special prospecting licences, covering a total of approximately 60,000 km². The territory is considered highly prospective, having been the subject of marine research by Japanese, French and other scientific cruises in the late 1980s and early 1990s. The licences each have an initial term of two years.

Under the terms of a regional area of interest agreement signed with Teck Resources in 2007, Teck holds the right to earn an interest in the Fijian tenements by contributing to exploration spending. Teck has not yet indicated whether it intends to exercise that right.

Following the grant of the Fijian leases, Nautilus holds exclusive exploration tenements covering a total of approximately 230,000 km² in the western Pacific, and has applied for a further 370,000 km², taking the total to approximately 600,000 km² (www.nautilusminerals.com/i/pdf/FijiTenementsAug11.pdf).

Nautilus' CEO, Steve Rogers said the award of the licences was an important step forward for Nautilus and for Fiji.

"The territory is very promising and has the potential to host significant high grade deposits of copper, zinc, silver and gold.

"Following the recent grant of exploration licences by the International Seabed Authority, the Fijian government's decision to select Nautilus as the first private sector, commercial organisation to be granted offshore exploration leases reconfirms the leading status of Nautilus in this new industry," he said.
Nautilus is developing the world's first deepwater seafloor resource development project at Solwara 1, in the Bismarck Sea of Papua New Guinea. The project is well advanced, with all permitting in place and construction of remote-controlled seafloor production equipment having commenced.

About Nautilus Minerals Inc.
Nautilus is the first company to commercially explore the ocean floor for polymetallic seafloor massive sulphide deposits and is currently developing its first project at Solwara 1, in the territorial waters of Papua New Guinea in the western Pacific Ocean. Nautilus is listed on the TSX and AIM stock exchanges, and has among its largest shareholders two of the world's leading international resource companies Anglo American (11.1%) and Teck Resources (6.8%), as well as Metalloinvest, one of the largest and fastest growing mining and metallurgical holding companies in Russia, which beneficially owns 21.0% of the Company's issued shares through Gazmetall Holding (Cyprus) Limited. 

Neither the TSX nor the London Stock Exchange accepts responsibility for the adequacy or accuracy of this press release.

Contact Information

• 
  
  Nautilus Minerals Inc.
  Investor Relations
  +1 (416) 551 1100
  investor@nautilusminerals.com
  
  Nautilus Minerals Inc.
  Joe Dowling
  Vice President Investor Relations and Communications
  +61 (7) 3318 5544 or Cell: +61 431 365 741
  jjd@nautilusminerals.com
  www.nautilusminerals.com
  
  Numis Securities Limited
  John Harrison
  Nominated adviser
  + 44(0) 20 7260 1000
  
  Numis Securities Limited
  James Black
  Corporate broking
  + 44(0) 20 7260 1000

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• Seabed mining on Pacific agenda (bbc.co.uk)