Independent Analysis of Tri-Valley Corporation′s Richardson Gold Project in Alaska Completed
Report by Avalon Development Corporation Identifies Potential Gold
Minerals and Recommends Six Target Sites for Further Exploration
Company Announces First Quarter 2011 Release Date and Conference Call
Tri-Valley Corporation (NYSE Amex: TIV) today announced that independent
geological consulting firm, Avalon Development Corporation of Fairbanks,
Alaska, completed and submitted an NI 43-101 report which identified
intrusive-related gold (IRG) mineralization on its Richardson project,
located 115 kilometers (71.5 miles) southeast of Fairbanks. The
Richardson project covers an area of approximately 46 square miles.
Avalon′s report is based on updated geological, geochemical, and
geophysical data. Based on Avalon′s findings, the Richardson project
appears to contain at least three different types of intrusive related
gold mineralization. Avalon has identified and recommends further
sampling and evaluation of six prospective areas within the project.
'The NI 43-101 report confirms earlier studies that indicated the
potential for substantial gold deposits at the Richardson project,? said
Maston N. Cunningham, President & CEO of Tri-Valley Corporation. 'As
part of the report, Avalon has recommended additional rock and soil
sampling, mapping, and reconnaissance-scale prospecting to further
identify the most prospective areas to be evaluated by drilling. We are
currently evaluating the report′s recommendations; and, along with our
efforts on our Alaska Shorty Creek project, we are seeking an
experienced operational and financial partner to help us explore and
develop the Richardson property.?
The Richardson NI 43-101 report is available on the Company′s website at www.tri-valleycorp.com
First Quarter 2011 Conference Call
The Company also announced today that it will release its financial
results for the first quarter ended March 31, 2011, after the close of
market on Monday, May 9, 2011. The Company will host a conference call
and webcast on Monday, May 9, 2011, at 4:30 p.m. Eastern/1:30 p.m.
Pacific Time to discuss the first quarter financial results and current
corporate developments. The dial-in number for the conference call is
877-941-0844.
A taped replay of the conference call will also be available beginning
approximately one hour after the call′s conclusion and will remain
available for seven days. It can be accessed by dialing 800-406-7325 and
passcode 4436246#. To access the live webcast of the call, visit
Tri-Valley′s website at www.tri-valleycorp.com.
An archived webcast will also be available at www.tri-valleycorp.com.
Forward-looking Statements
All statements contained in this press release that refer to future
events or other non-historical matters are forward-looking statements.
By way of example, statements contained in this press release related to
future geologic studies, rock and soil sampling, mapping, and core hole
drilling, and such other future events, business plans and objectives of
management for future operations, are forward-looking statements.
Although the Company does not make forward-looking statements unless it
believes it has a reasonable basis for doing so, the Company cannot
guarantee their accuracy. These statements are only predictions based on
management′s expectations as of the date of this press release, and
involve known and unknown risks, uncertainties and other factors,
including: the Company′s ability to obtain additional funding or joint
venture partners; availability of equipment and other resources, adverse
weather conditions; compliance with governmental and regulatory
requirements; and such other risks and factors that are discussed in the
Company′s filings with the Securities and Exchange Commission from time
to time, including under 'Item 1A. Risk Factors? and 'Item 7.
Management′s Discussion and Analysis of Financial Condition and Results
of Operations,? contained in the Company′s Annual Report on Form 10-K
for the year ended December 31, 2010.Except as required by law,
the Company undertakes no obligation to update or revise publicly any of
the forward-looking statements after the date of this press release to
conform such statements to actual results or to reflect events or
circumstances occurring after the date of this press release.
Tri-Valley Corporation
John Durbin, 661-864-0500
jdurbin@tri-valleycorp.com
or
EVC
Group, Inc.
Investor Contacts:
Doug Sherk or
Jenifer Kirtland, 415-896-6820
dsherk@evcgroup.com
jkirtland@evcgroup.com
Media
Contact:
Chris Gale, 646-201-5431
cgale@evcgroup.com
