Golden Reign Receives Environmental Permit to Advance San Albino GOLD Deposit
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September 12, 2017
NEWS RELEASE - #17-08
TSX- V: GRR
GOLDEN REIGN RECEIVES ENVIRONMENTAL PERMIT
TO ADVANCE SAN ALBINO GOLD DEPOSIT
Golden Reign Resources Ltd. (TSX-V: GRR) (the “Company” or “Golden Reign”) is pleased to announce that
it has received its environmental permit for the DEVELOPMENT, CONSTRUCTION AND OPERATION of up
to a 500 ton per day operation at its wholly-owned San Albino Gold Deposit, located in Nueva Segovia, Nicaragua.
Golden Reign is the first gold mining company, without existing Ni caraguan operations, to be awarded a permit
in the last 13 years. The Company will be the third gold producer within the country and o ur high grade, San
Albino Gold Project will be the first newly permitted commercial gold processing operation in the country within
years.
“Receiving this permit not only shows the quality and commitment of the GRR team in Nicaragua but
also the commitment of the Nicaraguan Government to the mining industry in the country. The issuance
of the environmental permit for the San Albino Gold Deposit marks a major milestone for the Company.
It is the culmination of extensive work by the Golden Reign team along with our consulting engineers,
in collaboration with Nicaraguan governmental agencies and interested parties. We are particularly
pleased to report that our project proposal met with overwhelming public support from our local
communities in Nueva Segovia.” stated Kevin Bullock, Golden Reign’s CEO
On August 25, 2017, the Company held its Public Consultation Meeting, a key step in the EIA permitting process.
The meeting was attended by representatives from the Ministry of the Environment and Natural Resources
(MARENA), the Ministry of Energy and Mines ( MEM), the National Forestry Institute (INAFOR), a number of
other ministries and variety of businesses, municipal authorities, a non-governmental organization, local judicial
and political party representatives, as well as members of the public. Of the over 700 people in attendance , 551
registered participants represented 17 different communities and the local municipality of El Jicaro. The Company
delivered an in -depth 3 -hour presentation on the San Albino Gold Project, explaining the proposed mining
operations, as well as its potential economic and social impact. The meeting also provided a forum for questions
and responses. The Public Consultation Meeting went extremely well, with the project receiving the support of
all parties present.
Golden Reign’s next step is to finalize an EPCM contract and, in due course, commence detailed engineering and
construction of a high grade, high margin gold mine at San Albino . The Company’s P reliminary Economic
Assessment, carried out in 2014 to early 2015, shows robust economics for a high margin gold mine with an open-
pit grade of over 7 g/t gold equivalent (AuEq) and a stripping ratio of 5.2:1 (please see news release #15-1, dated
March 16, 2015).
Concurrent with the permitting process, Golden Reign has continued to advance exploration at Las Conchitas. An
update, including initial trenching results, will be released once received. Las Conchitas is located immediately
south of our high-grade San Albino Gold Deposit which contains Indicated Resources of 95,000 ounces AuEq at
8.47 g/t and Inferred Resources of 805,000 ounces AuEq at 7.43 g/t (see news release dated January 7, 2013), and
is situated near the southern end of the Corona de Oro Gold Belt, a 3 kilometre wide by 20 kilometre long corridor
bearing hundreds of historical mines and workings.
On behalf of the Board,
“Kevin Bullock”
Kevin Bullock, P.Eng.
CEO
About Golden Reign:
Golden Reign Resources Ltd. is a publicly listed (TSX -V: GRR) mineral exploration company engaged in exploring the
San Albino-Murra Property and the El Jicaro Property, both of which are located in Nueva Segovia, Nicaragua.
The Company’s prime objective is to bring its San Albino Gold Deposit into production quickly and efficiently, building
cash flow to further advance a number of its other highly prospective exploration targets.
The Company’s land package comprises 13,771 hectares (138 km 2) of highly prospective ground. Hundreds of
historical mines and workings exist within the Corona de Oro Gold Belt, which is appr oximately 3 kilometres wide by
20 kilometres long and spans the entirety of the Company’s land package.
For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.
Forward-Looking Statements: Some of the statements contained herein may be forward -looking statements which
involve known and unknown risks and uncertainties. Such forward -looking statements are subject to a variety of risks
and uncertainties which could cause actual events or results to differ materially from those reflected in the forward -
looking statements, including, without limitation, risks and uncertainties relating to political risks involving the
Company’s exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and
the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate
financing on a timely basis and other risks and uncertainties. Such information contained herein represents management’s
best judgment as of the date hereof, based on information currently available.
Neither the TSX Venture Exchange nor its Regulation Services Provide r (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.