Delta Gold and Commonwealth Silver File NI 43-101 Preliminary Economic Assessment on the Commonwealth Project in Arizona

Delta Gold and Commonwealth Silver File NI 43-101 Preliminary Economic Assessment on the Commonwealth Project in Arizona
  
 

VANCOUVER, BRITISH COLUMBIA and TORONTO, ONTARIO--(Marketwired - Jun 10, 2014) - Delta Gold Corporation (TSX-VENTURE:DLT) ("Delta Gold") and Commonwealth Silver and Gold Mining Inc. ("Commonwealth Silver"), a privately-held company incorporated under the laws of Canada, announce that, further to their joint news release issued on April 24, 2014, they have filed an updated preliminary economic assessment technical report (the "Technical Report") in respect of the Commonwealth Silver and Gold Project located in Cochise County, Arizona.

The Technical Report, entitled "National Instrument 43-101 Technical Report - Preliminary Economic Assessment, Commonwealth Silver and Gold Project, Cochise County, Arizona, USA" and dated April 30, 2014, with an effective date of November 30, 2013, was prepared by Hard Rock Consulting, LLC of Lakewood, Colorado and authored by four 'qualified persons' (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) who are 'independent' of both Delta Gold and Commonwealth Silver for purposes of NI 43-101.

A copy of the Technical Report, which was prepared in compliance with NI 43-101, is available under Delta Gold's SEDAR profile at www.sedar.com and on Commonwealth Silver's website at www.commonwealthsilver.ca.

About Delta Gold and Commonwealth Silver

For further information on Delta Gold, please visit Delta Gold's website at www.deltagold.com. For further information on Commonwealth Silver, please visit Commonwealth Silver's website at www.commonwealthsilver.ca.

CAUTIONARY STATEMENTS

All statements in this news release, other than statements of historical fact that address events or developments which Delta Gold or Commonwealth Silver expect to occur, constitute "forward-looking information". These statements relate to future events or future performance and reflect Commonwealth Silver's and Delta Gold's current expectations regarding, among other things, the future growth, results of operations, business prospects and opportunities of such companies. Forward-looking information reflects Commonwealth Silver's and Delta Gold's current internal projections, expectations or beliefs and is based on information currently available to Commonwealth Silver and Delta Gold, respectively. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based include, among others, that the business prospects and opportunities of each of Delta Gold and Commonwealth Silver will be as anticipated. Many of these assumptions are based on factors and events that are not within the control of Delta Gold or Commonwealth Silver, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: the speculative nature of the mineral exploration and development industry; volatility in financial markets or general economic conditions; capital requirements and the need for additional financing; fluctuations in international currency markets and in the rates of exchange for the currencies of Canada and the United States; price volatility in the spot and forward markets for commodities generally and for silver and gold in particular; discrepancies between actual and estimated production, mineral reserves and mineral resources, metallurgical recoveries and/or exploration results; changes in regulations and unpredictable political or economic developments; competition in the mineral exploration and development industry; loss of key personnel; changes in project parameters as plans continue to be refined; labour disputes; and defective title to mineral claims or property, or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding (and the risk of inadequate insurance or inability to obtain insurance to cover these risks), as well as the risks disclosed under the heading "Risks and Uncertainties" in the most recent management discussion and analysis for Delta Gold available under its SEDAR profile at www.sedar.com. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in any such forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although Commonwealth Silver and Delta Gold believe that the forward-looking information contained herein is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on any of the forward-looking information contained herein. Each of Delta Gold and Commonwealth Silver expressly disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

For Delta GoldMarco A. RomeroPresident & CEO604.681.2020 ext. [e-mail] Commonwealth SilverMichael H. FarrantPresident & [e-mail]