Gold Prices up as Dollar Value Falls

NEW YORK, February 13, 2018 /PRNewswire/ --

Gold price traded higher on Monday as the U.S. dollar weakened. Gold Spot rose 0.52 percent to $1,323.53 per ounce, while U.S. Gold future for April delivery was up 0.78 percent to $1,325.90 per ounce. The U.S. Dollar Currency Index, which tracks the U.S Dollar against a basket of currencies, fell 0.25 percent at 90.21 on Monday. Concerns over the global stock market volatility also help support gold price last week. Major stock Indexes posted their worst weekly declines in two years. The Dow Jones industrial average index and the S&P 500 index both dropped 5.1 percent last week. While the Nasdaq composite fell 5.1 percent. Gold is considered as a safe-haven asset during times of political and economic turmoil. Sunvest Minerals Corp. (OTC: SRKZF), Eldorado Gold Corp (NYSE: EGO), Golden Star Resources Ltd. (NYSE: GSS), Vista Gold Corp. (NYSE: VGZ), Asanko Gold Inc (NYSE: AKG)

According to Kitco News, the Goldman Sachs analysts has increased their forecast for the gold price to $1,450 an ounce by next year, up from its previous forecast of $1,225. The analysts said in the report Thursday: "The 'normal' relationship would say that gold has to go lower as real rates rise, since as a non-yielding asset there is less reason to hold goldin a higher rate environment. However, as EM growth has recovered, so has their gold demand, leading to an upward level-shift in the equilibrium gold price."

Sunvest Minerals Corp. (OTC: SRKZF) is also listed on the TSX Venture Exchange under the ticker symbol 'SSS'. On February 8^th the company reported that, "it has received additional assay results from sampling of historic drill core from its Clone project located near Stewart in the Golden Triangle region of northwestern British Columbia.

Drill core from 1995 were re-sampling by quartering the core with a rock saw. In total 47 samples were submitted to ACT Labs along with 8 control (QA/QC) samples to validate the previous assays and improve the understanding of the Clone mineralization. Results of this program confirmed three distinct mineralized zones in holes CL95-4 and CL95-11, assisting in future drill planning of multiple zones for resource definition drilling.

Much of the early drilling on Clone (circa 1990's) assayed only for precious and base metals. The recent resampling program was analyzed for 39 elements and is being reviewed for distinct specific metal associations that can be applied to the numerous exploration targets on the Clone property, and to zonations within the "H" and "S" zones.

Assays received have a high correlation with the historically reported results increasing the confidence in the accuracy and validity of the historic data base.

Assays received include the following intervals:

• 2.1m of 32g/t Au from 12.9m to 15m in hole CL95-04
• 4m of 30.3 g/t Au from 16m to 20m in hole CL95-11
• 2.48m of 21.7 g/t Au from 27 to 29.48m in hole CL95-11
• 3m of 26.6 g/t Au from 38m to 41m in hole CL95-11

The bulk of the core is stored on the property and is not be accessible during the winter.

Results from previous work programs continue to be compiled and the expanding data base is in the process of being digitized and interpreted.

The Company is currently investigating helicopter airborne geophysical applications that can be flown in the 1st quarter to assist with planning for the exploration targets and drill hole locations for the summer 2018 program."

"We are excited to have confirmed the validity and reliability of the previous assays done on the Clone property and are preparing for a summer drill program in 2018." stated Mike England, CEO of the Company.

Eldorado Gold Corp (NYSE: EGO) back in January announced the Company's 2017 operating results and preliminary cash costs, and provides partial production and cash cost guidance for 2018. Closed the year with total liquidity of approximately $730 million, including $480 million in cash, cash equivalents and term deposits, and $250 million in undrawn lines of credit. "2017 was a year that was overshadowed by political headwinds in Greece and technical challenges at Kisladag," said George Burns, President and Chief Executive Officer. "With that said, I am very proud of how our team handled the opportunities and challenges of 2017. We completed the Integra acquisition, succeeded in declaring commercial production at Olympias Phase II at year-end and commenced the immense amount of technical work at our key Kisladag, Skouries and Lamaque assets."

Golden Star Resources Ltd. (NYSE: GSS) on February 1^[st] announced that commercial production has been achieved at its Prestea Underground Gold Mine ("Prestea Underground") in Ghana. The project construction of Prestea Underground, including the installation of all ancillary infrastructure, is complete and operational and gold production is anticipated to continue to ramp up during 2018. Full year 2018 production guidance for the Prestea complex (including Prestea Underground and the Prestea Open Pits) is 93,000-113,000 ounces of gold at a cash operating cost per ounce2 of $740-880.

Vista Gold Corp. (NYSE: VGZ) announced recently the positive results of an updated preliminary feasibility study (the "PFS") for its Mt Todd gold project in Northern Territory, Australia. The process improvement efforts have resulted in reduced operating costs, increased gold recovery and higher gold production at Mt Todd. Vista's President and CEO, Frederick H. Earnest, commented, "In 2016, we began an effort to review all aspects of the Mt Todd development plan, focused on improving the economics of the Mt Todd gold project.  The results of this updated PFS demonstrate that Mt Todd is a robust project at today's gold price and foreign exchange rate.

Asanko Gold Inc (NYSE: AKG) production results for the fourth quarter ("Q4") and full year ("FY") of 2017 from the Asanko Gold Mine ("AGM"), located in Ghana, West Africa. Commenting on the quarter Peter Breese, President and CEO, said "The Asanko Gold Mine delivered another solid quarterly performance, producing 51,550 ounces and achieving 2017 revised guidance with full year production of 205,047 ounces. Highlights for the quarter include the opening up and commencement of ore mining operations at our second satellite deposit, Dynamite Hill, record milling rates by the processing plant, which achieved the design throughput rate of 5Mtpa on an annualized basis for December inspite of lower oxide tonnes being fed to the mill than designed for, and high metallurgical recovery, which continues to be above design at 94% at these elevated mill throughput rates.

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