Reunion Gold Corporation Announces its Financial Results for the 2nd Quarter Ended September 30, 2007
November 29 2007 - 11:56AM
Marketwired
LONGUEUIL, QUEBEC (the "Company") announces that its
Consolidated Financial Statements and Management's Discussion &
Analysis for the 2nd quarter ended September 30, 2007 have been
filed on SEDAR (www.sedar.com). They are also available through
Marketwire's website at http://www.ccnmatthews.com/docs/fin-md.pdf
and on the Company's website at www.reuniongold.com.
At November 28, 2007, the Company has cash and cash equivalents
of $685,500, excluding $99,600 invested in Canadian Asset-Backed
Commercial Paper. The Company has 41,281,816 common shares issued
and outstanding, 17,127,415 warrants outstanding at an exercise
price of $1.25 per share, expiring at various dates from December
2008 to January 2009 and 3,570,000 outstanding stock options at an
exercise price varying between $0.20 and $2.15 and expiring by
March 2012.
The Company requires additional funds to continue its
exploration program on the Antino Project and, subject to receiving
the necessary regulatory approvals, to undertake an exploration
program on the Lely Mountain Project. To that end, the Company has
put in place an incentive program for the early exercise of the
2004 Warrants (see press releases dated October 19, 2007 and
November 25, 2007). However, there can be no assurance that the
Company will be successful in securing such financing. In the event
that the Company is not successful in raising sufficient funds
through the incentive program for the early exercise of the 2004
Warrants, it will evaluate other financing options and it may need
to substantially reduce its exploration activities.
The Company is continuing its exploration for gold on the Antino
Project located in Suriname. The exploration program on Antino,
which began in June 2006 is focused on various targets, including
Maripasula Creek, Upper Antino, T1a and Guanaman and includes
mapping, geochemistry, trenching, reverse circulation ("RC") and
diamond drilling. There is currently one diamond drill working on
the project.
The Company is focused on acquiring and exploring projects in
the Guiana Shield in South America. Additional information about
the Company is available through regular filings and press releases
on SEDAR and on the Company's website.
Forward-looking Statements
This news release contains "forward looking statements"
including, but not limited to, statements concerning future
financial or operating performance of the Company and its project,
requirements for additional capital and acquisition of new
projects. Forward-looking statements are not historical facts and
are subject to a number of known and unknown risks and
uncertainties beyond the Company's control. These statements may
cause the actual results, levels of activity, performance or
achievement of the Company to be materially different from any
future results, levels of activity, performance or achievement
expressed or implied by these forward looking statements. There can
be no assurance that such statements will prove to be accurate.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Reunion Gold Corporation James Crombie, President
& CEO 450-677-2585 450-677-2601 (FAX)
james_crombie@reuniongold.com Reunion Gold Corporation Louise
Quinn, Manager - Investor Relations 450-677-3523 450-677-2601 (FAX)
louise_quinn@reuniongold.com www.reuniongold.com
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