Sona Announces Stock Option Grant
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/19/11 -- Sona Resources Corp. (the 'Company' or 'Sona') (TSX VENTURE: SYS)(FRANKFURT: QS7) announces that it has granted incentive stock options to directors, officers, employees and consultants which allow for the purchase of an aggregate of 780,000 common shares for a period of ten years at a price of $1.40 per share. These options have been granted pursuant to the Company's Stock Option Plan.
About Sona Resources Corp.
Since its inception in 1990, Sona has engaged in exploration activities at its mineral properties in Canada and the United States, as well as small-scale gold production at its flagship property, the 100 percent owned Blackdome Gold Mine ('Blackdome'), in south-central British Columbia, 250 kilometres north of Vancouver. At Blackdome, the indicated mineral resources are estimated to be 144,500 tonnes, grading 11.29g Au/t and containing 52,600 ounces of gold, and the inferred resource is estimated to be 90,600 tonnes, grading 8.79g Au/t (news release dated May 4, 2010). At its 100 percent owned Elizabeth Gold Property, 30 kilometres south of the Blackdome Gold Mine, Sona has outlined an inferred gold resource of 522,900 tonnes, grading 12.3g Au/t and containing 206,100 ounces of gold (news release dated June 8, 2009).
Sona aims to bring its fully permitted Blackdome mill back into production over the next three years at a rate of 200 tonnes per day, with feed from the former-producing Blackdome Gold Mine and the Elizabeth Gold Deposit Property. A positive Preliminary Economic Assessment by Micon International Ltd. (news release dated May 28, 2010), at a gold price of $950 per ounce over an eight-year period, has estimated pre-tax cash flow of $27 million and pre-production capital costs of $21 million.
Sona holds 100 percent interests in two other promising properties: The Callaghan Project is located in Nevada, within 80 kilometres of several producing mines, and is underlain by the Roberts Mountain Thrust, a major structural setting for gold deposits. The Montgolfier Project is located in Quebec, 40 kilometres east of the multimillion- ounce Casa Berardi Mine gold deposit.
On behalf of the Board,
Nick Ferris, Executive Chairman
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.
Contacts:
Sona Resources Corp.
1 (888) 236-5200
1 (604) 684-6678 (FAX)
info@sonaresources.com
www.sonaresources.com
Marston Webb International
Victor Webb/Madlene Olson
Media Inquiries
1 (212) 684-6601
1 (212) 725-4709 (FAX)
marwebint@cs.com