Sonora Gold Corp. CA$0.09 0.0000 (0.00%)

Sonora Gold & Silver Corp.: Corporate Update

 

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2010) - Sonora Gold & Silver Corp. (the "Company" or "Sonora") (TSX VENTURE:SOC) reports that by order dated December 2, 2010, the Commissioner for Minerals for the United Republic of Tanzania has ordered Dr. Kigoda to surrender Mining License (ML) 413/2010 to the Commissioner, in favor of a Primary Mining License (PML) used for small-scale artisanal mining, to be reissued to Dr. Kigoda. The Company currently has an option on the ML held by Dr. Kigoda.

The Commissioner has ruled that Dr. Kigoda may conduct mining activities without foreign involvement which includes Sonora and Canaco. The Commissioner has also ordered that contracts that involve foreign companies or individuals with Dr. Kigoda are deemed illegal.

The Company is currently assessing the Commissioner's decision, and intends to exercise all legal avenues available to it to protect its rights. The Company expects to make a further announcement once its assessment is complete.

ON BEHALF OF THE BOARD OF DIRECTORS

Signed:

"Ken Churchill"
Ken Churchill, President & CEO, Director


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.

For more information, please contact

Sonora Gold & Silver Corp.
Ken Churchill
778.373.5499
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Sonora Gold & Silver Corp.
Suite 2300, Oceanic Plaza
1066 West Hastings St.
Vancouver, BC V6E 3X2

Tel: 778.373.5499