Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) is pleased to report the Updated Resource Estimate completed by SGS Canada Inc. on the San Diego Deposit located in the Velardeña camp in Durango State, Mexico. The property is a 50-50 joint venture between Golden Tag and Golden Minerals Company (AUMN: NYSEAmex; AUM:TSX). Golden Tag is the operator and is earning an additional 10% interest to a 60% interest by funding additional exploration on the property.
The updated Resource Estimate represents a very significant increase in tonnage over the last Resource Estimate released in January 2009 with a most notable expansion of Indicated Resources that increased from 370,000 tonnes to 16.5 million tonnes (Mt) and Inferred Resources doubling in size from 22 Mt to 42 Mt (Table 1). Silver ounces also increased compared to 2009 and are now 31.6 M oz Ag Indicated and 83.8 M oz Ag Inferred whereas in 2009 Inferred silver ounces were at 76.5 M oz with only 3 M oz in the Indicated category.
For additional information, please contact:
Golden Tag Resources Ltd.
Marc A. Carrier, President & CFO
Ph: (514) 426-8542
Fax: (514) 426-8543
Cautionary Statement: Statements in the release that are "forward looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. For a discussion of the risk factors that are inherent in the Mining Industry see our public filings at www.sedar.com.
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