Stonegate Agricom Commences Definition Drilling Activity at the Paris Hills
Phosphate Project

TSX: ST and ST.WT 

TORONTO, Sept. 23 /CNW/ - Stonegate Agricom Ltd. ("Company") (TSX: ST) today announced that the first phase of definition drilling activity will commence this week at the Paris Hills Phosphate Project in Idaho.

"The drilling program is an important first step in our Paris Hills development plan," said Mark Ashcroft, President and Chief Executive Officer.

"It is the first time that Stonegate will be drilling at the property since we acquired it in 2009. The drilling of approximately 20 holes is expected to provide additional information on the Upper and Lower Phosphate Zone thicknesses and grades and will help drive the next steps in determining what processing and upgrading will be required.

"The drill results are expected by the end of this year and will also be used, along with the results of additional drilling planned for next spring, to confirm and expand estimates of the NI 43-101 compliant mineral resources at the project," Mr. Ashcroft added.

The Company has engaged Major Drilling America Inc. to conduct the drilling, which is expected to involve two diamond drill rigs and one reverse circulation pre-collar rig.

About Stonegate Agricom

Stonegate Agricom, which is actively engaged in acquiring and developing agricultural nutrient projects, is currently focused on the development of two potentially world-class, long-life phosphate deposits, the Mantaro Phosphate Project located in Peru and the Paris Hills Phosphate Project located in Idaho. Stonegate is confident that the two deposits have sufficient size and grade and are in the right locations to become strategic, cost-effective sources of phosphate supply for major fertilizer producers. The Company intends to conduct definition and exploration drilling to confirm and expand estimates of NI 43-101 compliant mineral resources and reserves in the deposits and then complete feasibility studies leading to a decision to proceed with extracting and processing the phosphate. More information is available at www.stonegateagricom.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable law.  Generally, forward-looking statements and forward-looking information 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", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".  All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company as at the date of such information.  Forward-looking statements and forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements and forward-looking information, including but not limited to: the general risks associated with the speculative nature of the Company's business, commodity prices, current global financial conditions, uncertainty of additional capital, price volatility, the Mantaro and Paris Hills projects are advanced exploration stage projects, limited operating history, no history of earnings, government regulation in the mining industry, environmental risks and hazards, impending climate change legislation, required approvals and permits, foreign subsidiaries, political and economic risk in Peru, risks relating to the retention of the Mantaro project, risks relating to the retention of the Paris Hills project, expiration of leases and permits for the Paris Hills Project, title to mineral properties, obtaining and converting mineral concessions and surface rights, community relations and project support, water rights, exploration, development and operating risks, uncertainty in the estimation of mineral resources, uncertainty of inferred mineral resources, mineral exploration, reliability of historical exploration work, absence of public trading market, risks associated with having a controlling shareholder, arbitrary offering price, dilution to the common shares, dependence on key personnel, currency fluctuations, insurance and uninsured risks, competition, legal proceedings, conflicts of interest and lack of dividends as well as those factors discussed in the section entitled "Risk Factors" in the Company's preliminary prospectus.  Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information.  Accordingly, readers should not place undue reliance on forward-looking statements or forward-looking information.  The forward-looking statements and forward-looking information contained in this press release are included for the purpose of providing investors with information to assist them in understanding the offering as well as the Company's expected financial and operational performance and may not be appropriate for other purposes.  Stonegate does not undertake to update any forward-looking statement or forward-looking information that is included herein, except in accordance with applicable securities laws.

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