Volta Resources provides corporate update

- Analysing plans for a staged approach at the Kiaka Gold Project -
- Financial strategy -
- Gaoua copper-gold porphyry project -

TSX: VTR

TORONTO, Nov. 26, 2012 /CNW/ - Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) today provided a corporate update.  Volta Resources is currently transitioning from explorer to producer in Burkina Faso.  In only the past three years, the company has increased its NI43-101 Resource to more than 4.1-million ounces of gold in the Measured and Indicated categories and an additional 1.0 million ounces of gold in the Inferred category. The projects are progressing successfully.  They are technically and economically sound and on schedule.  Management and its technical team are working diligently toward converting its flagship asset, the Kiaka Gold Project in Burkina Faso, into a producing gold mine. Optimization of the Kiaka Gold Project is the Company's immediate priority.  Kiaka has many favorable characteristics that provide flexibility to increase efficiencies and to incorporate evolving standards of best practices in the global mining industry.  The Company is committed to enhance shareholders' return on investment with a financing plan underway that aims to provide the most effective capital structure for the Company.

Kevin Bullock, Volta President and CEO, said, "Volta is at a stage that few exploration companies reach - we are about to realize the value of many years of effort as we advance Kiaka to the threshold of production.  Just as we made Kiaka into a major gold deposit by being flexible, imaginative and prudent in our technical work, we aim to bring Kiaka into production in a way that increases capital market and shareholder values."

Kiaka Gold Project:

Volta Resources has initiated an investigation into optimizing the geological and resource models of the Kiaka Central Area by further improving the definition of the higher grade mineralized bands that are evident in this large gold deposit.  This entails assessing alternative operating scenarios, including one which considers a staged approach to construction.  This alternative could entail reducing initial ore throughput with selectively mined, significantly higher grade, material feeding a single-line processing plant (6Mtpa), while stockpiling lower grade material.  This should lead to considerably reduced initial CAPEX requirements than would be needed for the larger twin-line processing plant (12Mtpa) outlined in the Pre-Feasibility study.

Significant progress has been made in this regard and the Company plans to issue an updated NI43-101 Resource in January 2013 along with more details on a phased approach to the Kiaka Gold Project development.  The Company plans to issue the results from the Kiaka Gold Project Feasibility Study in the third quarter of 2013.

Gaoua Copper-Gold Porphyry Project:

The Company has completed 13,528 metres of drilling (107 RC holes & 27 DD holes) at the Gongondy and Dienemera copper-gold porphyry deposits.  Results will be available within the next few weeks and work will commence on an updated resource.  Volta plans to issue the updated NI 43-101 resource in the first quarter of 2013 which will be the basis for formalizing a plan to realize full value for the project.

Financing Strategy:

Volta currently has over $21 million in cash and no debt.

The Company has engaged Standard Bank to provide advice on securing the project financing for the Kiaka Gold Project development and is in advanced talks with several potential lenders.  Volta's finance team is working closely with its advisors along with the Project Finance Committee of the Board of Directors and with operating management to determine the optimum capital components for the project financing.  Our objective is to determine a capital structure that provides maximum financial flexibility with the lowest cost of capital to drive the optimum return on investment for shareholders.

Standard Bank's Head of Mining, Energy & Infrastructure Lending, Don Hultman, commented: "We are delighted with the opportunity to work with Volta's experienced management team to ensure the successful funding and development of their Kiaka Gold Project. Kiaka is proving to be one of the most exciting new gold projects in West Africa, with a considerable resource, strong annual production and potential for economic upside from identified satellite resources." (See VTR press release dated May 3, 2012)

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 will focus on fast-tracking its flagship Kiaka Gold Project (NI-43-101 compliant resources include 117.42 million tonnes @ 1.07 g/t Au for 4,029,000 ounces in the Measured and Indicated categories and 29.96 million tonnes @ 1.00 g/t Au for 1,000,000 ounces in the Inferred category [Please see VTR press release dated March 21, 2012] 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) towards a development decision, aiming to complete a Feasibility Study in Q1, 2013. Recent 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.

please refer to our website www.Voltaresources.com or contact:

Kevin Bullock, P.Eng., President & CEO
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Fax: [phone]
Email: [email protected]      

or

Andreas Curkovic, Investor Relations
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