SUTTER
GOLD ANNOUNCES EXTENSION ON ITS NON-BROKERED PRIVATE PLACEMENT
Vancouver, British Columbia (January 4, 2013) - Sutter Gold Mining Inc.
(SGM:TSX-V) (SGMNF:OTCQX) (�Sutter� or the �Company�) is pleased to announce that the TSX Venture Exchange
has granted Sutter an extension for the completion of its private placement financing,
initially announced on October 18, 2012, to January 15, 2013. All terms for the
balance of the US $5,000,000 offering of shares, at a price of US $0.30 per
common share, remain unchanged. The Company previously closed an initial
tranche of 3,356,634 common shares for gross proceeds of US $ 1,006,990.
About Sutter Gold Mining
Inc.
Sutter is a near-term gold producer, building Phase
One of the new Lincoln Mine Project in the historic California Mother Lode.
Ramp-up to full production is planned in the first half of 2013. The
Lincoln-Comet and Keystone zones have a NI 43-101 compliant Indicated Resource
estimate (completed in February 2008) of 612,400 tonnes
(673,600 tons) grading 11.3 g/t Au (0.33 oz/ton)
containing 223,000 ounces of gold and Inferred Resources of 2,161,700 tonnes (2,377,900 tons) grading 6.6 g/t Au (0.19 oz/ton) containing 458,900 ounces of gold.
Sutter currently controls approximately 4.6 miles of the Mother Lode of Amador
County, with 90% of the property still unexplored. Potential exists both at
depth and along strike of the known mineralized zones on both the footwall and
hanging wall. The 120-mile long Mother Lode Gold Belt produced over 13 million
ounces of gold historically with 7.9 million ounces originating from the 10-mile
long segment between Jackson and Plymouth where the Lincoln Project is
strategically located. Properties under the Company�s control include seven
historic mines with significant historic gold production totaling over 3.5
million ounces or 27% of the historic gold production from the Mother
Lode. Historic mines located north and south of the Lincoln Project in
the Jackson to Plymouth segment of the Mother Lode success fully mined gold to
depths of 4,500 and 6,300 feet, respectively.
In Mexico, Sutter holds the rights to the geologically similar, high-grade El
Alamo district of northern Baja, where historic mining to the water table
produced mined grades of 30 to 60 g/t gold. Initial exploration with its
joint-venture partner, Premier Gold, has demonstrated the extension of
high-grade veins.
ON BEHALF OF THE BOARD OF DIRECTORS:
Dr. Leanne M. Baker, President, CEO & Director
Sutter
Gold Mining Inc.