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Orca Gold Inc
Symbol ORG
Shares Issued 259,720,237
Close 2021-10-21 C$ 0.52
Market Cap C$ 135,054,523
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Orca Gold receives gov't OK for gold ops at Block 14

2021-10-21 11:21 ET - News Release

Mr. Richard Clark reports


Orca Gold Inc. and the government of Sudan have signed all the key development agreements to proceed with the formal construction of a large commercial gold operation at the Block 14 gold project in northern Sudan. The signing took place at an official ceremony held on Oct. 20, 2021, at the Ministry of Minerals in Khartoum, Sudan. Orca's president and chief executive officer Richard Clark signed on behalf of the company and his Excellency, the Honourable Minister of Minerals, Mohamed Bashir Abu Numo, signed on behalf of the government of the Sudan.

"The signing ceremony in Khartoum was a momentous event to mark the payoff of a decade-long push for a commercial gold industry in Sudan. The signing of these key agreements demonstrates the support and commitment of the Sudanese government to achieving this objective and we are proud and privileged to stand beside the people of Sudan and their government on this journey. I'd like to extend my sincerest gratitude to the Honourable Minister Abu Numo and his team at the ministry and to the Sudanese Mineral Resources Company for their support and commitment in showing the world that Sudan is ready to be a serious player in the mining landscape of Africa. We at Orca have demonstrated our dedication to this objective over the past decade and I am extremely proud of our team for their faith, hard work and unfailing belief that Sudan is the next, if not the final, frontier for gold exploration and development on the continent of Africa. With the clear message being sent by the Sudan government in concluding these material, modern, development agreements, we look forward to welcoming other mining companies in joining us on this exciting journey," commented Mr. Clark. "Contrary to media reports of instability in the Sudanese political environment, we can confirm that it has been business as usual for our operations to date. Despite experiencing some delivery delays due to issues at Port Sudan, the political climate in Sudan continues to be extremely positive toward international investment and infrastructure development."

Anticipating the successful conclusion of negotiations with the government of Sudan and the signing of the material development agreements, the company has continued in its preconstruction activities at Block 14. The first phase of the development camp construction is well advanced and scheduled for completion before year-end. In addition to this construction, the first flight recently landed at Block 14's newly completed airstrip. Regular flights will now be scheduled in conjunction with operations and development requirements. This is a key milestone in the early development of the project as access to the strip cuts travel time from Khartoum from 14 hours to two hours and significantly increases safety protocols for the operation.

About Orca Gold Inc.

Orca Gold is a Canadian resource company focused on exploration and development opportunities in Africa. Led by a board of directors made up of industry experts and a management team with a record of discovering and building significant mines globally, Orca is developing one of the leading gold projects in Africa. The company is currently focused on its 70-per-cent-owned Block 14 gold project in the Republic of the Sudan on which a feasibility study was completed in November, 2018, and revised in September, 2020.

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