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GIYANI GOLD CORPORATION - Giyani market update

Release Date: 11/02/2014 16:27
Code(s): GIY     PDF:  
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Giyani market update

Giyani Gold Corporation
(formerly 99 Capital Corporation)
(Incorporated and registered in Canada)
(Registration number BC-C0887454)
Share code on the TSXV: WDG
Share code on the JSE: GIY     ISIN:   CA37636L1076
(“Giyani Gold” or “the company” or “the group”)




Giyani Gold Corporate Update


Oakville, Ontario, February 11, 2014 - Giyani Gold Corp. (TSXV:
WDG, JSE: GIY, NSX: GGC) ("Giyani Gold") announces a corporate
update on its outlook and strategy for 2014.


Duane Parnham, Executive Chairman of Giyani Gold, made the
following comments: “My team and I remain committed to our
strategy of strengthening Giyani Gold’s position in southern
Africa by means of making a strategic acquisition. Our listings
in South Africa, Namibia, and Toronto provide a strategic and
competitive advantage for Giyani Gold that gives us the
flexibility to trade, raise capital, and seek acquisitions on a
broad scale throughout Africa.”


Giyani Gold continues to actively examine and pursue acquisition
targets in Africa but at this time is not in any advanced-stage
discussions with vendors.


Mr. Parnham further noted: “This past year has been challenging
for small cap equities in the mining sector, and it is our
expectation that in 2014 our sector will likely continue to face
similar challenges. I have led companies through these types of
down-markets in the past, and my team and I have a history of
maintaining and generating value in both good and bad markets.
We will continue to conduct exploration activities on the Giyani
Gold Project and work towards acquiring a significant, under-
valued asset that will reward shareholders as the small cap
market starts to trend upwards.”


Giyani Gold plans to continue its exploration program on the
Giyani Gold Project in South Africa to expand the new gold zone
(the “New Gold Zone”) originally discovered near the historic
Klein-Letaba Mine in Hole KL12-01 (including: 13.162 g/tonne Au
over 15.1m), and to drill previously untested targets near the
past-producing Horseshoe Mine.


The continuation of all exploration programs is contingent upon
Giyani Gold’s State-owned partner Corridor Mining Resources Pty
Ltd. (“CMR”) paying their outstanding R2.8M share of 2013
operating expenses and the formalization of 2014 budgets. Giyani
Gold and CMR continue to share all exploration expenditures
incurred on the Giyani Gold Project on a 50/50 basis, and an
additional update surrounding the 2014 exploration program will
be made at such time that Giyani Gold and CMR have resolved all
payment and budgetary items.


Giyani Gold is awaiting section 11 approval from the South
African Department of Mineral Resources (“DMR”) on a transaction
to acquire two prospecting rights adjacent to the Giyani Gold
Project. In addition, Giyani Gold has pending applications with
the DMR for additional prospecting rights in the Giyani
Greenstone belt.
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 news release.


On behalf of the board of Giyani Gold Corp.
“Duane Parnham”, Executive Chairman


Qualified person
R.S. Middleton, P.Eng, Vice President of Exploration of Giyani
Gold, is a qualified person as such term is defined in National
Instrument 43-101 and has reviewed and approved the technical
information and data included in this press release.


Investor Contact
Luke Vigeant, Head of Communications
Giyani Gold Corp.
Tel: 1.905.844.1456 X237
Email: lvigeant@giyanigold.com


Additional information and corporate documents may be found on
the Giyani Gold Website - www.giyanigold.com and www.sedar.com.


Forward Looking Statements
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this release or other future plans, objectives
or expectations of Giyani Gold Corp. are forward-looking
statements that involve various risks and uncertainties. There
can be no assurance that such 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 Giyani Gold's plans or expectations include risks relating
to the actual results of current exploration activities,
fluctuating gold prices, possibility of equipment breakdowns and
delays, exploration cost overruns, availability of capital and
financing, general economic, market or business conditions,
regulatory changes, timeliness of government or regulatory
approvals and other risks detailed herein and from time to time
in the filings made by Giyani Gold with securities regulators.
Giyani Gold expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a
result of new information, future events or otherwise except as
otherwise required by applicable securities legislation.


11 February 2014
Johannesburg


Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

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