Business
St. Augustine Announces Resignation of Director
HONG KONG , Aug. 27, 2015 /CNW/ -  St. Augustine Gold and Copper Limited (TSX: SAU...
About this update from St. Augustine Gold & Copper Ltd.
[{"type":"text","content":"\n\nHONG KONG, Aug. 27, 2015 /CNW/ - St. Augustine Gold and Copper Limited (TSX: SAU) (\"St. Augustine\" or the \"Company\"), a development-stage company advancing the King-king Copper-Gold Project (\"King-king\" or the \"Project\") in Mindanao, Philippines, announces the resignation of Ms. Anacordita McGee as a director as a result of increased responsibilities with her current employer.\n\n\"Ms. McGee was a valuable member of our Board, and her financial and regulatory contributions will be missed.  The Company extends our thanks and best wishes for her continued success in the business banking world,\" said Paolo Villar, Chairman and CEO of St. Augustine.\n\n\nThe King-king Copper-Gold ProjectThe King-king Copper-Gold Project is located in Compostela Valley in the Philippines, and is expected to recover 3.16 billion pounds (1.43 million tonnes) of copper and 5.43 million troy ounces (169,000 kilograms) of gold over its 25 year mine and process life. According to the Preliminary Feasibility Study that was released on September 18, 2013, and then filed on www.sedar.com on November 1, 2013, the Project has a pre-tax NPV of $2.0 billion with an IRR of 24.8%. The estimated mineral reserves amount to 617.9 million tonnes at 0.300% total copper and 0.395 g/t gold. \n\n\nAbout St. AugustineSt. Augustine (SAU.T) is a TSX-listed mining company focused on the development of the King-king Copper-Gold Project. The Project is one of the largest undeveloped copper-gold deposits in the world, and is listed as a top three-priority mining project by the Philippine government. \n\n\nNATIONAL INSTRUMENT 43-101 COMPLIANCEMr. James J. Moore, P.E., Vice President Technical of St. Augustine and a qualified person under National Instrument 43-101 (\"NI 43-101\") has reviewed and approved the scientific, technical and economic information contained in this news release.\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nThis announcement includes certain \"forward-looking statements\" within the meaning of Canadian securities legislation.  All statements, other than statements of historical fact included herein are forward-looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be acc...