Sandstorm Gold Ltd. (“Sandstorm” or the “Company”) (NYSE MKT: SAND, TSX: SSL) is pleased to announce that the Company has sold approximately 12,700 attributable gold equivalent ounces1 during the second quarter of 2017. In addition, new high grade gold-copper intercepts from ongoing diamond drilling at the Hot Maden project in north east Turkey (“Hot Maden”) have been reported and continue to confirm the internal continuity of gold-copper mineralisation within the Main Zone resource area and verify the additional resource potential south of the main deposit. Sandstorm has also amended its Normal Course Issuer Bid (“NCIB”) to allow for the purchase of its common shares through the facilities of the NYSE MKT or alternative trading platforms in the U.S.A., in accordance with U.S. federal securities laws and as further described herein.
Hot Maden Drill Results
The Hot Maden assay results have been reported from two drill holes. HTD–111 is a step-out core hole drilled along the southwest side of the southern zone and HTD-128 is an infill core hole drilled within the Main Zone. Highlights from these drill results include:
•HTD-111: 26.0 meters @ 4.4 g/t gold and 0.57% copper
•HTD-128: 105.5 meters @ 17.4 g/t gold and 2.34% copper
As of July 3, 2017, the total amount of drilling for the year stood at 14,286 metres completed in 40 holes, with three additional holes in progress.
Hot Maden Drill Summary Assay Results
South Zone: HTD-111 Section Line From (m) To (m) Intercept (m) Au g/t Ag g/t
Cu % Mo ppm Pb % Zn % Azimuth (‘) Dip (‘)
L 2025 N 253.00 263.00 10.00 4.57 - - - - - 90 60
287.00 288.00 1.00 3.38 - 0.38 - - -
294.00 296.00 2.00 3.89 - 1.24 - - -
360.00 386.00 26.00 4.44 - 0.57 - - -
including 360.00 370.00 10.00 4.19 - 0.54 - - -
including 373.00 376.00 3.00 2.56 - - - - -
including 379.00 386.00 7.00 9.31 - 1.09 - - -
398.00 406.00 8.00 0.56 - 0.56 - - -
Main Zone: HTD-128
Section Line From (m) To (m) Intercept (m) Au g/t Ag g/t Cu % Mo ppm Pb %
Zn % Azimuth (‘) Dip (‘)
L 2250 N 9.00 114.50 105.50 17.39 - 2.34 63 - - 90 60
23.00 38.00 15.00 33.77 - 33.77 61 - -
including 76.00 91.00 15.00 68.89 - 68.89 69 - -
including 149.00 163.50 14.50 0.28 - 0.28 56 - 5.27
Figure 1: Geology map and drill hole locations, Hot Maden Project.
Normal Course Issuer Bid Amendment
The Toronto Stock Exchange (“TSX”) has accepted the Company’s amended notice (the “Amended NCIB Notice”) with respect to the Company’s NCIB which was originally approved by the TSX on March 31, 2017 and pursuant to which Sandstorm may purchase up to a maximum of 7,597,730 of its common shares over a 12-month period in accordance with TSX rules and applicable securities laws. Pursuant to the Amended NCIB Notice, purchases under the Company’s NCIB have now been extended to include the ability by the Company to also purchase its common shares through the facilities of the NYSE MKT or alternative trading platforms in the U.S.A. Purchases made by the Company through its broker over the NYSE MKT or such alternative trading platforms will be made in open market transactions at prevailing market prices or by other means in accordance with applicable U.S. federal securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The technical and scientific information contained in this news release has been reviewed and approved for release by Eric Roth, the Company’s Qualified Person as defined by National Instrument 43-101. Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has 25 years of experience in international minerals exploration and mining project evaluation.
Mineralised intervals presented in Table 1 are drill intersection widths and may not represent true widths of mineralisation. Drill core obtained from the diamond drill program was dominantly HQ-sized core with the remainder being PQ-sized core. All drill core was photographed and quick logged prior to sampling. Standard sampling protocol involved the halving of all drill core and sampling over generally 1 metre intervals (in clearly mineralised sections) or 2 metre intervals (elsewhere), with one half of the core being placed in a sealed sample bag and dispatched to the analytical laboratory for analysis. Samples have been analysed at ALS Laboratories’ facility in Izmir, western Turkey. All samples have been analysed for gold using a 30 gram Fire Assay with AAS finish (or Screen Fire Assay for higher grade samples), in addition to a 32 element ICP-AES analysis of an aqua regia digest. Samples in which ICP analyses returned greater than the maximum detection limit for the elements Ag (10 ppm), Cu (10,000 ppm), Fe (15%), Pb (10,000 ppm), and Zn (10,000 ppm) were reanalysed using the AAS analytical technique. Standards and blanks were inserted in to the analytical sequence on the basis of one standard for every 20 samples, 2 blanks in every batch, and one duplicate every 40 samples.
Sandstorm has included attributable gold equivalent ounces as a performance measure in this press release which does not have any standardized meaning prescribed by International Financial Reporting Standards (IFRS). The Company’s royalty income is converted to an attributable gold equivalent ounce basis by dividing the royalty income for that period by the average realized gold price per ounce from the Company’s gold streams for the same respective period. These attributable gold equivalent ounces when combined with the gold ounces sold from the Company’s gold streams equal total attributable gold equivalent ounces sold and may be subject to change. The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these non-IFRS measures differently. Note these figures have not been audited and are subject to change.
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