Vancouver, August 21, 2013 /TheNewswire/ - Edgewater Exploration Ltd. (TSXv: EDW) (the "Company" or "Edgewater") provides a Corporate Update as Ryan King discusses an array of corporate developments, including;
-Overall status of Edgewater's Corcoesto project in Spain
-King and Edgewater management's thoughts on the current markets and how to survive in the current environment
-Current stage or permitting in Spain
-Financing Options available to Edgewater Exploration
-Timelines of Feasibility Study
-Edgewater's Enchi Project in Ghana
-Overall short-to-midterm plans for both Spain and Ghana
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About Edgewater Exploration Ltd.
Edgewater is a mineral development and exploration company focused on advancement and development of precious metal properties. Edgewater has an experienced mine building and operating team with a track record of success. The Company is currently developing the Corcoesto Gold Project in northwest Spain, and exploring the Enchi Gold Project in Ghana, West Africa.
Over the last 18 months Edgewater; completed +50,000 metres of infill drilling, is nearing the completion of a final Feasibility Study with Micon International Limited, signed a debt mandate agreement with Credit Suisse AG and Barclays Bank PLC for up to $120 Million for project financing and received the full Environmental Impact Statement for the Corcoesto Gold Project. (Please visitwww.edgewaterx.com for further details).
In Ghana, the Company's Enchi Gold Project (51/49 JV with Kinross) is host to an Inferred Resource of 749,000 ounces of gold (20,627 million tonnes at an average grade of 1.13 g/t gold), using a cut-off of 0.7 g/t gold. The Enchi Resource Estimate dated July 12, 2012 was prepared by Todd McCracken, P.Geo. of Tetra Tech., who is independent of Edgewater and a Qualified Person ("QP") as defined by National Instrument 43-101. CIM definition standards were followed for the resource estimate. The 2012 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids. A capping of gold grades at 18 g/t and a density of 2.45 g/cm3 was applied. Mineral Resources that are not mineral reserves do not have economic viability
On behalf of the board of EDGEWATER EXPLORATION LTD.
George Salamis, President and CEO
Edgewater Exploration Ltd.
"Neither the 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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