CALGARY, ALBERTA — (Marketwire) — 03/19/12 — MILL CITY GOLD CORP. („Mill City“ and/or the „Company“) (TSX VENTURE: MC)(OTCQB: MCYGF)(FRANKFURT: NJ6) announced today that the Company intends to make the necessary filings with the Securities and Exchange Commission (SEC) on March 19, 2012 to voluntarily deregister and terminate its reporting obligations under the Securities Exchange Act of 1934. The Company-s SEC reporting obligations will be immediately suspended on March 19, 2012 and therefore, the Company will not be required to file an Annual Report on Form 20-F for the 2011 fiscal year which ended on December 31, 2011. Deregistration is expected to be final and effective on June 17, 2012.
US trading volumes over the past 12 months accounted for less than 1% of the worldwide trading volume of the Company-s shares. Considering the relatively limited trading volume in the US, the Company believes that the costs and expenses associated with maintaining a dual listing, including SEC reporting obligations, outweigh the benefits of continuing its US listing and registration.
The Company-s common shares will continue to trade on the TSX Venture Exchange and in the US over the counter market.
The Company will continue to prepare its financial statements in accordance with International Financial Reporting Standards (-IFRS-) as issued by the International Accounting Standards Board (-IASB-), and will continue to publish and disseminate its financial statements and announcements as well as other information for investors in English via the SEDAR filing system, as well as via the Company-s website:
Mill City also announced today that it has terminated its option agreement with Strategic Metals Ltd. relating to the Tombstone Gold Project, Yukon, in keeping with the Company-s decision to focus on the West Timmins Gold District, Ontario.
ON BEHALF OF THE BOARD OF DIRECTORS
James R. Brown, Chairman, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Mill City Gold Corp. James R. Brown 403-640-0110
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