Volta Resources to suspend its current approach to the feasibility study at the Kiaka Gold Project in Burkina Faso and internally review further options inherent in the deposit

TSX: VTR

TORONTO, July 12, 2013 /CNW/ - Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) announces that it is suspending its current approach to the  Feasibility Study currently underway at its flagship Kiaka Gold Project in Burkina Faso, owing to current market conditions and lower gold prices.

The Kiaka Gold Project is a potential large scale development project that is highly leveraged to benefit from gold prices exceeding $1,350 per ounce. Recognizing the near-term shift in gold prices, the Company in consultation with its technical and financial advisors, believes it is prudent to review a lower risk development approach on a smaller scale utilizing a mining plan which will result in a higher grade of ore processed.  Therefore the Company will be reviewing existing data collected to date from the current Feasibility Study in order to internally review its options that are inherent in the Kiaka Gold Deposit within a lower gold price environment, while maintaining options to scale up production capacity. Fortunately the Kiaka Project lends itself to be selectively mined and processed because of the presence of clearly defined higher grade zones that exhibit excellent continuity occurring within the broad zone of mineralization.

Most of the component technical studies being undertaken in the current Feasibility Study have been largely completed.  These include geological and resource modelling, in-pit geotechnical, civil geotechnical, hydrological, metallurgical, waste rock characterization, environmental and social studies.  Infrastructure layout, tailings design, waste rock dump design, process engineering, mine design and scheduling are also well advanced.  Quotes are also being obtained for items related to both capital and operating costs.  This information will be invaluable to the Company in determining the best development and production scenario to pursue for a robust project at lower gold prices.  These identified changes necessary to achieve this objective will be incorporated into the work leading to the completion of the Feasibility Study using the revised approach.   This will inevitably mean that completion of the Feasibility Study will be delayed and will not be ready in Q3 2013, as previously indicated.

Recognizing the near-term commodity and market conditions, the Company continues to rationalize overhead and exploration budgets in order to lower expenditures in an effort to conserve capital.

Under the guidelines of National Instrument 43-101, the qualified person for the Kiaka Gold Project is Mr. Guy Franceschi, Vice President, Exploration for Volta Resources. Mr. Franceschi is a member of the European Federation of Geologists and has reviewed and approved the contents of this news release.

About Volta Resources:

Volta Resources has a portfolio of quality gold exploration projects in Burkina Faso and Ghana, both mining-friendly West African jurisdictions with proven world-class gold deposits.  VTR is focussing on its flagship Kiaka Gold Project (NI-43-101 compliant resources include 153.26 Mt @ 0.99 g/t Au for 4,862,000 ounces in the Measured and Indicated categories and 33.74 Mt @ 0.93g/t for 1,006,000 ounces in the Inferred category (Please see VTR press release dated January 10, 2013) including 34.38 million tonnes @ 1.04 g/t Au for 1,145,969 ounces of gold in the Proven category and 91.70 million tonnes @ 0.93 g/t Au for 2,742,353 ounces of gold in the Probable category (Please see VTR press release dated May 3, 2012). The acquisition of properties around the Kiaka Gold Project has provided VTR with an extensive ground position along the highly prospective Markoye Fault Corridor in an important emerging gold province.

Forward Looking Information Caution:

This press release presents "forward-looking statements" within the meaning of Canadian securities legislation that involve inherent risks and uncertainties.  Forward-looking statements include, but are not limited to, statements with respect to the future price of gold and other minerals and metals, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage.  Generally, these forward-looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Volta Resources to be materially different from those expressed or implied by such forward looking statements, including but not limited to: risks related to international operations, risks related to the integration of acquisitions; risks related to joint venture operations; actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities.  Although the management and officers of Volta Resources believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.  Volta Resources does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

SOURCE: Volta Resources Inc.

For further information:

For further information, please refer to our website www.Voltaresources.com or contact:

Kevin Bullock, P.Eng., President & CEO    
Tel:  (416) 867-2299          
Fax: (416) 867-2298
Email: kbullock@Voltaresources.com 

Andreas Curkovic, Investor Relations
or  Tel: (416) 577-9927

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Volta Resources Inc.

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