May 14 2014
Galane Gold Ltd. ("Galane Gold" or the "Company") is pleased to announce that it has mined its first ore from Tau Underground.
The Company has previously disclosed its intention to exploit the reported measured and indicated resource of 128.6 thousand ounces of gold for Tau through underground mining. It commenced the project in the fourth quarter of 2013 and has now completed the forced portal entry at the bottom of the existing Tau pit, installation of the entire infrastructure required, appointment of an underground contractor and the development work required to reach ore.
An image of the entrance at Tau Underground is available at the following link: http://media3.marketwire.com/docs/gg0512photo1.pdf.
The Company has put together a mine plan based on the reported resource to mine approximately 85,000 ounces of gold over the next three and a half years. A detailed mine plan has been produced and the mining method used will be long hole open stoping. To view a graphical presentation of the ore body and the mine design, please visit the following link: http://media3.marketwire.com/docs/gg0512fig1.pdf.
It is expected that once underground we will start a comprehensive exploration programme to confirm that the mineralisation continues at depth and expand the existing mine plan.
Ravi Sood, Galane Gold's CEO, stated, "This is a major step in the evolution of the Company both with regards to a change from open pit mining to underground mining and our plans to extend mine life through further exploration. We are also putting together a mine plan to connect all the current pits on the Mupane mining license underground, as for example we know that mineralisation continues at depth at Tholo and Kwena.
"In addition the fact that we have completed this project within 6 months and from our own operating cash-flows is a testament to the experienced management team that we have put in place."
About Galane Gold
Galane Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana. Galane Gold is a public company and its shares are quoted on the TSX Venture Exchange and the Botswana Stock Exchange under the symbol GG. Galane Gold's management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes. Galane Gold is committed to operating at world-class standards and is focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates.