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Wednesday, February 03, 2010
Staccato Gold Appoints Strategic Advisor
Vancouver, B.C. - February 3, 2010 - Staccato Gold Resources Ltd. ("Staccato") (CAT-TSX.V) announces that it has commenced a formal review of its strategic options in order to enhance shareholder value, and that it has retained Paradigm Capital Inc. ("Paradigm Capital") as a strategic and financial advisor.
Paradigm Capital will assist Staccato in evaluating the strategic opportunities available to it, which may include joint ventures or the sale of the Company or its assets, or other alternatives, with the objective of enhancing shareholder value. Regular updates will be provided in subsequent news releases as Staccato progresses in its assessment of the strategic alternatives.
Grant Ewing, Staccato's President and Chief Executive Officer, stated, "Our board and management are evaluating all alternatives for maximizing shareholder value. We believe that Staccato, with quality gold assets in Nevada, a strong balance sheet, and low valuation, represents a very attractive investment opportunity. Any action pursued by Staccato will be in the best interests of all shareholders."
Shareholder Requisition
Staccato confirms that it received a revised requisition dated January 25, 2010 to call a meeting of shareholders pursuant to section 167 of the Business Corporations Act (British Columbia) from Aumerco Limited and Augen Capital Corp., together representing not less than 5% of the outstanding common shares of Staccato, for the purpose of removing all of the existing directors of Staccato and electing new directors of Staccato.
The directors of Staccato will consider the requisition and respond within 21 days from the date the requisition was received, as contemplated by the Business Corporations Act (British Columbia).
On behalf of the Board of Directors
STACCATO GOLD RESOURCES LTD.
"Grant Ewing"
Grant Ewing, President & CEO, Director
About Staccato Gold Resources Ltd.: Staccato Gold is a well funded junior gold exploration company with resources and advanced stage exploration assets located exclusively in Nevada. The Company has assembled a portfolio of prospective gold prospects in the dominant gold trends in Nevada. For further information, please contact Gareth Thomas at 604-682-8789 or visit Staccato's website at www.staccatogold.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, are forward-looking information within the meaning of Canadian securities laws. Forward-looking information is based on numerous assumptions, including that equipment and personnel will be available when required, that no delays are experienced in the planned work programs, that technical issues identified in the previous resource estimate for the Lookout Mountain project can be addressed and within the time frame anticipated, and that all necessary approvals for the planned programs will be obtained in a timely manner, and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development such as, but not limited to, risk of delay in obtaining permits and approvals, the risk that actual results of exploration activities will be different than anticipated, risk of failure of equipment, accident, labor disputes and other risks associated with mineral exploration activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.
You can also view this News Release on our website at:
http://www.staccatogold.com/s/NewsReleases.asp?ReportID=383489
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