CALGARY, ALBERTA--(Marketwire - March 5, 2012) - Sienna Gold Inc. ("Sienna" or the "Company") (TSX VENTURE:SGP) (LMA:SGP) announces that, subject to regulatory approval, 17,500,000 warrants set to expire on March 24, 2012 have been extended to March 24, 2013, with the condition that if the shares of Sienna close at or above $0.80 for a period of 20 business days, including days on which no trading occurs, Sienna has the option of issuing a press release and amending the expiry date to an earlier date no sooner than 30 days after the date of such press release.
These warrants have an exercise price of CDN$0.60 and were issued as part of a unit private placement in March 2011.
Fundamental Research Corp
Sienna wishes to announce the receipt of an initiating report issued by Fundamental Research dated 1 March 2012.
The Fundamental Research Report is entitled "Initiating Coverage - Prospective gold property located in highly prolific area in northern Peru". The full report is now at www.researchfrc.com.
Disclaimer: Please note that any opinions, estimates, or forecasts regarding Sienna's performance made by these analysts are theirs alone and do not represent opinions, forecasts, or predictions of Sienna or its management. Sienna does not, by its reference her-in imply its endorsement of, or concurrence with, such information, conclusions, or recommendations.
Sienna does not provide analyst reports to persons outside of the company. Please contact the research analyst directly to obtain a report.
About Fundamental Research: Since 2003, Fundamental Research Corp has been providing the highest institutional quality equity research coverage on small and micro cap companies through their extensive distribution network. In 2009, they also started issuing reports on exempt market securities. In 2010, their Top Picks earned them the #3 highest ranked analyst firm on First Coverage with a return of 20.75%, and #1 in the Basic Materials Sector (which includes mining) with a return of 29.07%. First Coverage tracks 700+ analysts globally. Their goal from the beginning was to provide high quality research to a broad audience, while adhering to high ethical standards and a strong foundation of integrity.
About Sienna Gold.
Sienna Gold Inc. is a Canadian-based gold exploration and development company with assets in northern Peru. Igor, the company's 100%-owned flagship gold and silver project, is located in a prolific gold producing district.
The Company is drilling aggressively to increase the existing gold-silver resource at Igor and has plans to become a gold producer.
The Company is listed on the TSX Venture Exchange (TSX VENTURE:SGP) and the Bolsa De Valores De Lima (LMA:SGP).
For further information, please contact John Rucci at any of the contact points noted above.
John M. Rucci, President
This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, the use of net proceeds are forward-looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties related to fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainties relating to the completion of a resource study; uncertainty of estimates of capital and operating costs; the need for cooperation of government agencies in the development of the Company's mineral projects; the need to obtain additional financing to develop the Company's mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for the Company's mineral projects; and other risks and uncertainties disclosed under the heading "Risk Factors" in the Company's management discussion and analysis Form filed with Canadian securities regulatory authorities on the SEDAR website at www.sedar.com.
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