Southern Arc Second Quarter Financial Results and Projects Update
February 29, 2012
February 29, 2012 � Vancouver, BC � Southern Arc Minerals (TSX-V: SA, OTCQX: SOACF) (�Southern Arc� or �the Company�) today announced the results of its second quarter ended December 31, 2011, along with an update on exploration activities at its portfolio of projects. Details of the Company�s financial results are described in the unaudited condensed consolidated interim financial statements and Management�s Discussion and Analysis (�MD&A�), which will be available on the Company�s website at www.southernarcminerals.com and on SEDAR at www.sedar.com. All amounts are in Canadian dollars unless otherwise stated.
RECENT EVENTS
- Completed a porphyry prospectivity study for the West Lombok project after modeling the results of an airborne geophysical survey and extensive geological and geochemical data; the study identified 17 porphyry targets
- Initiated drilling of porphyry targets in the southeast section of the Selodong prospect, West Lombok project
- Initiated drilling of epithermal gold targets in the northwest section of the Pelangan prospect, West Lombok project
- Completed evaluation of the Waterfall target (27 holes), Mencanggah prospect, West Lombok project
- Completed eight holes at the Bising target, Mencanggah prospect, West Lombok project
- Re-focused drilling activities on the West Lombok project to areas without forestry designation, due to an ongoing delay in receiving the required forestry borrow/use (�Pinjam/Pakai�) permit
- Completed 1,342 metres of drilling on the Sabalong project and initiated groundwork of newly identified targets
- Wrote down Nickel Oil & Gas investment to a remaining value of $nil as a result of the expectation of continued low natural gas prices
- Commenced trading on the OTCQX International on December 7, 2011 under the symbol �SOACF�
To view the full press release please follow this link: http://southernarcminerals.com/_resources/news/nr_2012_02_29.pdf
On behalf of the Board of Southern Arc Minerals Inc.
�John Proust�
Chairman & CEO, Director
About Southern Arc
Southern Arc Minerals Inc. is a Canadian mineral exploration company with an aggressive exploration, acquisition and growth strategy. The Company�s portfolio includes four exploration projects with epithermal gold and copper-gold porphyry prospects on the Lombok and Sumbawa islands in Indonesia, three of which are being advanced in partnership with major mining companies Vale and Newcrest. The Company�s key exploration property is its West Lombok project, with several gold-rich copper porphyry and epithermal gold vein prospects. Southern Arc is listed on the TSX Venture Exchange under the symbol SA and on the OTCQX International under the symbol SOACF. More information is available at www.southernarcminerals.com or by emailing info@southernarcminerals.com.
Southern Arc Contact
Rhylin Bailie Vice President, Communications & Investor Relations Phone: 604-676-5241 Email: info@southernarcminerals.com
Forward-looking Statements
This news release contains forward-looking statements relating to expected or anticipated future events and operations, timing of projects and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the company's capability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. There is no representation by the company that actual results achieved during the forecast period will be the same in whole or in part as that forecast.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person
The technical information in this document has been reviewed by Southern Arc�s Chief Geologist, Andrew Rowe, B. App. Sc. Geology, MAusIMM. Mr. Rowe has over 18 years of international mineral exploration experience throughout Southeast and Central Asia and Australia. During this time he has held such positions as Chief Geologist � Feasibility Studies, Senior Geologist and Consulting Geologist. The technical information in this document has also been reviewed by Southern Arc�s President & Chief Operating Officer, Dr. Mike Andrews, PhD, FAusIMM, who has sufficient experience relevant to the style of mineralization under consideration and qualifies as a Qualified Person as defined by National Instrument 43-101. |