SAS Retires $8.4 Million of Debt

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, Aug. 19 /CNW/ - St Andrew Goldfields Ltd. (TSX:SAS), ("SAS" or the "Company") is pleased to announce that it has retired, on August 18, 2010, all of its outstanding $7,555,000 principal amount secured debentures which were due on December 31, 2010. The total payment of $8.4 million included $7.5 million of outstanding principal, $0.8 million in participation fees and $0.1 million in interest. $4.3 million in principal amount of the debentures were held by Trapeze Capital Corp. and managed accounts of Trapeze Asset Management Inc. and Trapeze Capital Corp., which are related parties to the Company.

About SAS

SAS (operating as "SAS Goldmines"), is a gold mining and exploration company with an extensive land package in the Timmins mining district, northeastern Ontario, which lies within the Abitibi greenstone belt, the most important host of historical gold production in Canada. SAS is focussed on developing its assets in the Timmins Camp which includes current and near-term gold production, and exploration activities.

SOURCE St Andrew Goldfields Ltd.

For further information: For further information:

St Andrew Goldfields Ltd.
Suzette N Ramcharan
Manager, Investor Relations
1-800-463-5139 or (416) 815-9855
(416) 815-9437 (FAX)
sramcharan@sasgoldmines.com
or
St Andrew Goldfields Ltd.
Jacques Perron
President & CEO
1-800-463-5139 or (416) 815-9855
(416) 815-9437 (FAX)
jperron@sasgoldmines.com
or
St Andrew Goldfields Ltd.
Ben Au
CFO, VP Finance & Administration
1-800-463-5139 or (416) 815-9855
(416) 815-9437 (FAX)
bau@sasgoldmines.com
www.sasgoldmines.com

Organization Profile

St Andrew Goldfields Ltd.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890