Press Releases

Goldrich Mining Provides Production Guidance Through 2019

Spokane, WA - March 18, 2015 - Goldrich Mining Company (OTCBB: GRMC) (“Goldrich” or the “Company”) is pleased to provide shareholders with estimated production forecasts, as provided by our joint-venture partner NyacAU, LLC (“NyacAU”), for the upcoming five mining seasons at Little Squaw mine.

Goldrich’s 50% owned subsidiary, Goldrich NyacAU Placer, LLC (“GNP”), is a joint venture between the Company and NyacAU to mine the various placer deposits that occur throughout Goldrich’s 23,000-acre Chandalar gold project in Alaska. NyacAU acts as project manager.

The 5-year summary of estimated gold production, financial projections and price sensitivity provided by NyacAU are as follows:

Financial Projections

Revenue 2015 2016 2017 2018 2019
Gold Production (troy oz) 16,500 23,100 30,200 32,000 32,000
Gold Price (avg. price/oz) $1,200 $1,200 $1,200 $1,200 $1,200
Total Revenue $19,800,000 $27,720,000 $36,240,000 $38,400,000 $38,400,000
Production Costs          
Cost per/oz. $713 $623 $489 $451 $450
Total Cost of Sales $11,778,000 $14,398,000 $14,780,000 $14,441,000 $14,400,000
Pre-Tax Net Profit $8,022,000 $13,322,000 $21,460,000 $23,959,000 $24,000,000

Price Sensitivity Analysis

Gold Price/oz 2015 2016 2017 2018
$1,100 $6,370,000 $11,011,000 $18,437,000 $20,759,000
$1,200 $8,022,000 $13,322,000 $21,460,000 $23,959,000
$1,300 $9,674,000 $15,634,000 $24,483,000 $27,160,000
$1,400 $11,327,000 $17,945,000 $27,506,000 $30,361,000
$1,500 $12,979,000 $20,257,000 $30,528,000 $33,561,000

Goldrich has not completed a recent independent study to confirm the information provided by NyacAU. To date approximately US$18 million has been invested by GNP to develop the mine with an additional US$5 million budgeted for 2015. All initial capital expenditures are being funded by NyacAU under terms of the joint-venture operating agreement.

Goldrich has completed approximately 15,000 feet of drilling to date on the upper half of the Little Squaw Creek placer project and outlined 10.5 million cubic yards of mineralized material with an average head grade of 0.025 ounces of gold per cubic yard. There is no mineral reserve as defined in SEC Industry Guide 7 in relation to the placer deposits being extracted by the joint venture.


This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements concern use of proceeds and potential exercise of the warrants. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, budgets, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might”, “should” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Investors should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed in in the Company’s latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q under the heading “Risk Factors”, filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on the SEC website or, as well as the Company’s other SEC filings. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as required by law.

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