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CAT Chimata Gold Corp (delisted)

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Share Name Share Symbol Market Type
Chimata Gold Corp (delisted) TSXV:CAT TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Staccato Gold Provides Corporate Update

24/02/2009 1:34pm

Marketwired Canada


Staccato Gold Resources Ltd. (TSX VENTURE:CAT) is pleased to provide a corporate
update, including a summary of achievements in 2008, and a review of the
Company's outlook for 2009. 


To meet Staccato Gold's management team in person, please join us at PDAC 2009: 

Staccato will have both a Core Shack Exhibit (Sunday & Monday, March 1-2) and an
Investors Exchange Exhibit (Tuesday & Wednesday, March 3-4) at the upcoming
Prospectors and Developers Association of Canada Conference, held at the Metro
Toronto Convention Centre - South Building. 


Staccato met its key objectives during 2008, and the Company remains well
positioned to continue to prosper and grow in the future. Significant
achievements during 2008 include:


- Strengthening of the management team with new executive and technical appointments

- Completion of a focused exploration program at the Company's flagship South
Eureka property


- Continued expansion of the potential of the Lookout Mountain project, with
significant exploration results reported from the satellite South Adit area


- Confirmation of the excellent potential of the Windfall project (approximately
4 km northeast of Lookout Mountain): highlight result was 22.9 metres of 5.25
g/t gold, including 1.5 metres of 52.11 g/t gold


- Completed ownership consolidation of exploration properties, including an
amendment to the Lookout Mountain project lease, and the release of non-core
projects


- Maintained a strong treasury, ending the year with approximately $9.5 million
cash on hand, and no debt


"The current market conditions do not denote the true value of our Company",
stated Grant Ewing, president and chief executive officer of Staccato Gold.
"Staccato is led by an experienced and capable management team, and is focused
on building shareholder value through exploration and development of its highly
prospective gold projects, and by taking advantage of new opportunities for
growth. With approximately $9.5 million in its treasury to start the year,
Staccato is well financed to accomplish its goals. We look forward to a busy
year ahead as we continue to build Staccato as a leading gold exploration and
development company."


Staccato's flagship South Eureka property, located in northeast Nevada, USA, is
an extensive and highly prospective landholding. The property is comprised of
several projects; from early stage projects where historic data indicates the
potential for new discoveries, to the advanced stage Lookout Mountain project,
where a significant gold resource has been identified (refer to Technical Report
and Gold Resource Estimate for the South Eureka District Property, January 15,
2007 filed on SEDAR).


The Company's key goals and objectives for 2009 are:

- Remain focused on conducting results driven well planned exploration programs
on the Company's strong portfolio of prospective gold projects


- Grow the Company's existing gold resource base through continued exploration,
and through acquisition


- Further develop high potential target areas on the Company's prospective South
Eureka property, including the extensive Ratto Ridge structural trend (host to
the Lookout Mountain deposit), and the extensive sub parallel trends (i.e.
Windfall project). 


- Budgeted expenditures are expected to fall in the $1.5 - $3 million range,
allowing the Company to conduct significant work programs, and maintain a strong
treasury


- Complete an updated NI 43-101 resource estimate for the Lookout Mountain
project, and continue to advance the project toward feasibility study status


- Continue to investigate new growth opportunities 

This press release was reviewed by Gary Edmondo, M.Sc. Geology, who is
Staccato's Senior Exploration Manager, and a Qualified Person as defined by
National Instrument 43-101 of the Canadian Securities Administrators.


On behalf of the Board of Directors

STACCATO GOLD RESOURCES LTD.

Grant Ewing, President & CEO, Director

About Staccato Gold Resources Ltd: Staccato Gold is a well funded junior gold
exploration company with resources and advanced stage exploration assets located
exclusively in Nevada. The Company has assembled a portfolio of prospective gold
prospects in the dominant gold trends in Nevada. 


Statements in this press release other than purely historical information,
including statements relating to the Company's future plans and objectives or
expected results, are forward-looking statements. Forward-looking statements are
based on numerous assumptions and are subject to all of the risks and
uncertainties inherent in the Company's business, including risks inherent in
resource exploration and development. As a result, actual results may vary
materially from those described in the forward-looking statements.


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