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Corporate Update

Corporate Update

 

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Vancouver, British Columbia March 29, 2011 - Sonora Gold & Silver Corp. (the “Company” or “Sonora”)

Sonora has filed an appeal in the High Court of Tanzania (the “High Court”) against the decision handed down by the Commissioner for Minerals of the United Republic of Tanzania to  cancel the mining license No. ML 413/2010 (the “ML”) held by Abdallah Omary Kigoda (“Mr. Kigoda”) which the Company has an option to acquire under its Amended and Restated Option Agreement with Mr. Kigoda dated October 06, 2010.

It is the Company’s position that the Honorable Minister for Energy and Minerals erred in law, and in fact, on a number of grounds by issuing the default notice and proceeding to cancel the Mining License.  In particular, the Minister should have first addressed the appeal against the Commissioner’s order on December 8, 2010 which itself was unlawful under the Mining Act.  The Minister also erred in law, and fact, by cancelling the Mining License on the alleged failure to commence work on the property when the Company was specifically prohibited from conducting any work on the property by the Commissioner’s order.  The Company also takes the position that the Minister erred by cancelling the Mining license based on the dealings between the Company and Dr. Kigoda when such dealings were not unlawful under the Mining Act.  In addition, the Minister did not take into consideration the interests of the Company in the Mining License obtained through a valid Option Agreement between the Company and Dr. Kigoda.

“Sonora plans to vigorously defend its rights relating to the Mineral License and will keep shareholders apprised of updates as they occur,” states company President, Ken Churchill.

ON BEHALF OF THE BOARD OF DIRECTORS
Signed:
“Ken Churchill”    
Ken Churchill, President & CEO, Director

For further contact:
Ken Churchill
Tel: 778.373.5499
E: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
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."

 

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Sonora Gold & Silver Corp.
210 - 905 West Pender St.
Vancouver, BC V6C 1L6

Tel: 604 398 5396