(via Thenewswire.ca)
May 23, 2012 - Vancouver, British Columbia. Manado Gold Corp. ("Manado") (TSX-V: MDO) is pleased to announce that the Phase 1 work program as recommended in "Summary Technical Report on the Clisbako Property" dated November 17, 2011, filed on SEDAR and described in the Manado's Prospectus dated December 12, 2011, has commenced. Two experienced geologists and two prospectors are now working on the Clisbako Epithermal Gold/Silver Property which is located on B.C's Interior Plateau, 125 kilometers west of Quesnel. The Phase 1 program will consist of follow-up geological mapping, sampling and prospecting.
A drill permit was obtained in 2011 and a drill contract has been signed. Diamond drilling is expected to begin in early June on the South Zone (see www.manadogold.com for the details regarding the property).
Jo Shearer, M Sc. PGeo, is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects and is responsible for the work program on the Clisbako Property. Mr. Shearer has supervised and approved all technical information in this news release.
On behalf of the Board of Directors
Logan Anderson
President and Chief Executive Officer?
info@manadogold.com
Investor Relations - Derek Huston - 604-657-5539
derek@manadogold.com
Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Manado cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Manado's control. Such factors include, among other things: risks and uncertainties relating to Manado's ability to complete the proposed work program on the Clisbako Property, Manado's limited operating history; the need to comply with environmental and governmental regulations; and potential defects in title to Manado's properties. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Manado undertakes no obligation to publicly update or revise forward-looking information.
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