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Corporate Update
Giyani Gold 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”)
Giyani Gold Corporate Update
Oakville, Ontario, January 28, 2015 - Giyani Gold Corp. (TSXV: WDG, JSE: GIY) ("Giyani") is
pleased to provide a corporate update on its most recent developments and strategy for 2015.
Duane Parnham, Executive Chairman of Giyani Gold, made the following comments: “Giyani
has entered the new year with several opportunities in the resource sector and a strategy that
when executed will fuel our growth while protecting our loyal shareholder base. We have strong
prospects and a committed team of professionals working for a common goal and I am
confident Giyani will deliver success in 2015.”
Giyani’s exploration permits that comprise the Giyani Gold Project in South Africa remain in
good standing and it is management’s belief that a sizable gold deposit may exist near historic
mining sites contained in these permits. Giyani’s exploration permits will need to be extended
and upgraded on or before July 10, 2015. Giyani continues to work towards recovering the
funds owed to it by Corridor Mining Resources, its joint venture partner on the Giyani Gold
Project, and is holding conversations relating to increasing Giyani’s ownership position in the
region.
Mr. Parnham further noted: “The gold market is showing signs of improvement while at the
same time the TSXV index is hitting historic lows and is showing signs of bottoming which we
feel provides an ideal environment for us to conduct transactions in the resource sector. I am
firmly committed to building Giyani into a company that will benefit its shareholders. We’ve
taken internal measures to reduce our expenditures, reduce our contractual obligations without
penalty fees, and in the aim to prevent any dilutive financings no one on our management team
or board of directors has drawn a salary since November of 2014. I would like to thank our
shareholders for their patience and discipline through this time, and you have my assurance that
my team and I will work tirelessly to build Giyani into a strong company.”
Giyani is the largest shareholder of Canoe Mining Ventures Corp. (TSXV: CLV) (“Canoe”) with a
44.6% interest. Duane Parnham was appointed as President and CEO of Canoe on October 2,
2014 and since that time has worked towards consolidating the Shebandowan Copper-Gold Belt
North of Thunder Bay, Ontario executing, most recently, a transaction to acquire a project from
Glencore. Giyani has signed a voluntary escrow arrangement with Canoe to align with other
escrowed shareholders and protect the value of Canoe with the right balance of liquidity should
it be needed. It is Giyani’s belief that Canoe’s strategic position and compliant gold resources
will contribute significantly to the Giyani balance sheet in 2015.
As previously announced, the agreement between Giyani and the shareholders of Horizon
Enerji A.S and Sumo Coal (Pty) Ltd. expired on December 31, 2014. Until such a time that a
new agreement is signed between all parties, no further corporate activities will be undertaken
or announcements will be made relating to this transaction.
Duane Parnham commented: “Giyani worked very hard and gathered great public support in
moving a transaction forward with Horizon and Sumo. It is unfortunate that in the face of poor
market conditions the consultant we retained was unable to assist Giyani in concluding this
transaction, however we still hold an exclusive agreement, with no termination date, with this
individual.”
Giyani continues to work with Lambert Private Equity LLC (“Lambert”), and the previously
announced financing facility remains one source of capital which Giyani can leverage as its
2015 strategy is executed. There are no guarantees that Giyani will conclude a transaction,
however the management team of Giyani is pleased with the quality of the opportunities made
available to Giyani which are currently in the early stages of evaluation.
Neither the TSX Venture Exchange Inc. 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.
On behalf of the Board of Directors of Giyani Gold Corp.
(signed) "Duane Parnham"
Duane Parnham, Executive Chairman
For further information, please contact:
Duane Parnham, Executive Chairman
Giyani Gold Corp.
Tel: 1.905.844.1456 ext. 236
Luke Vigeant, Head of Communications
Giyani Gold Corp.
Tel: 1.905.844.1456 ext. 237
Email: lvigeant@giyanigold.com
Forward Looking Statements
This news release contains certain statements that may be deemed "forward-looking
statements". Forward-looking statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects", "plans", "anticipates", "believes",
"intends", "estimates", "projects", "potential" and similar expressions, or that events or
conditions "will", "would", "may", "could" or "should" occur. Although Giyani believes the
expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of Giyani's management on the date the
statements are made. Except as required by law, Giyani undertakes no obligation to update
these forward-looking statements in the event that management's beliefs, estimates or opinions,
or other factors, should change.
28 January 2015
Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 28/01/2015 04:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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