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Caza Gold Acquires
Option to Purchase 100% Interest in
Large High Sulfidation
Gold Property in Nicaragua;
Caza Lists on the
Frankfurt Stock Exchange, Symbol CZ6
Vancouver, Canada � December 14, 2010 � Greg Myers,
President and CEO of Caza Gold Corp. (CZY: TSX-V; CZ6: Frankfurt), is pleased to announce the signing of a letter
agreement with Inversiones Ecologica S.A. for an option to purchase a 100%
interest in the Los Andes Gold Property in Nicaragua. The property covers
approximately 6,575 hectares and is strategically located within the Central
Nicaragua Gold Belt between the El Limon and La Libertad Mines of B2 Gold.
 The Los Andes
high sulfidation gold system is exposed on surface as an extensive alteration
zone of hydrothermal vuggy quartz, pervasive silification, and alunite
associated with highly anomalous gold, silver, and trace elements. The
alteration zone covers a 45 square kilometer area and measures 12 kilometers
long by up to 6 kilometers wide. It is similar in size, nature,
intensity, and trace element geochemistry to world class gold deposits such
as Yanacocha and Pierina in Peru (see comparable maps below).
High sulfidation gold systems are known as "the
giant gold systems" and these types of deposits host the largest gold
deposits in the world, such as the multi-million ounce Yanacocha, Pueblo
Viejo, and Pierina Mines. The alteration zones in these types of
systems contain highly anomalous levels of gold, silver, arsenic, copper,
antimony, bismuth, selenium, barium, and mercury, all of which are highly
anomalous at the Los Andes project and are present throughout the 45 square
kilometer alunite-silica alteration zone.
Size comparison of silica-alunite alteration zones
at Pierina, Yanacocha, and Los Andes.
Note the association of open pit outlines with
quartz-alunite alteration zones.
Surface samples grading up to 2.5 grams per tonne
gold within alunite-altered and silicified volcanic breccias, were collected
by Caza during recent due diligence sampling. The property was
previously held years ago by First Point Minerals, who conducted extensive
surface rock sampling.
Detailed mapping and sampling of known highly
anomalous gold mineralized zones will commence shortly and take about 6
months in order to identify high priority gold targets for drilling. A
more general reconnaissance mapping and sampling program in 2011 will attempt
to outline the overall extent of the epithermal gold and silver
mineralization.
The agreement grants Caza an option to acquire a
100% interest in the Los Andes Property by spending US$2.97 million on
exploration, making US$1.2 million in cash payments (US$45,000 paid on
signing) and issuing 1.5 million common shares, over a 4 year period, subject
to a 2% NSR production royalty, and regulatory and exchange approvals.
A formal purchase opton agreement will be completed within 90 days.
Additionally, Caza Gold Corp. is pleased to announce
that its common shares have commenced trading on the Frankfurt Stock Exchange
under the symbol CZ6.
Greg Myers, Ph.D., P.Geo. is the Qualified Person who reviewed and approved
the contents of this news release.
Sampling was supervised by Dr. Myers and all samples were
prepared and analyzed at Inspectorate analytical labs in Reno Nevada.
Caza Gold Corp. (CZY: TSX-V; CZ6: Frankfurt), is a
newly listed exploration company focused on the acquisition and exploration
of strategic gold properties in Mexico and Latin America.
CAZA GOLD CORP.
Per:
/s/ Greg Myers
Greg Myers Ph.D. P. Geo.
President and CEO
For more information, please contact Gregg Wilson at
Toll Free: 1-877-684-9700, tel: (604) 685-9750, fax: (604) 685-9744,
email: gregg@cazagold.com or visit our website, www.cazagold.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
CAUTIONARY DISCLAIMER � FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute
"forward-looking statements" within the meaning of applicable
securities laws. All statements that are not historical facts, including
without limitation statements regarding future estimates, plans, objectives,
assumptions or expectations of future performance, are "forward-looking
statements". We caution you that such "forward-looking
statements" involve known and unknown risks and uncertainties, as
discussed in the Company's filings with Canadian securities agencies. The
Company expressly disclaims any obligation to update any forward-looking
statements other than as required by applicable law. We seek safe harbour.
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