Review Of The Las Laguna’s Project

AUSTRALIA - Zach Casley, recently appointed CEO of PanTerra Gold Limited has completed a one month review of operations at the Company’s Las Laguna’s gold/silver project in the Dominican Republic. He has confirmed that despite the commissioning and ramp up phase of the Albion/CIL process plant being prolonged and negatively impacted by design and equipment issues, he was confident that after recent upgrades, the plant performance would be fully optimized within the next three months. Casley has advised that he is satisfied with the skill set of on-site management and operators of the Albion process in its first application for recovery of precious metals from refractory ore.

He has moved to appoint a Chief Operating Officer with a strong hydrometallurgical background and extensive experience with refractory ores. The COO will have responsibility for the operation of the Dominican project, and also the implementation of other projects by PanTerra Gold where the unique IP gained at Las Lagunas may be successfully applied. He has also identified and interviewed candidates for the role of Exploration Manager, with an appointment anticipated in early 2014 following the granting of the two remaining concessions under application with the Dominican Government. Casley has budgeted for revenues in Q4 2013 from gold and silver sales from the Las Lagunas project, at an average of US$5.0 million per month, rising to an average of US$6.0 million per month in Q1 2014. Direct operating costs remain on budget at approximately US$2.5 million per month.