Sierra Gold Corporation Rated 'Speculative Buy,' Target Price $0.69 by Beacon Equity Research

Sierra Gold Corporation (Pink Sheets: SGCP) has been rated Speculative Buy with a target price of $0.69 by Beacon Equity Research Analyst, Lisa Springer, CFA.

The full report is available at

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In the report, the analyst writes, Sierra Gold has acquired 100% of the mining rights to a property stretching over a 40 square kilometer area in Sierra Leone, West Africa. The Sierra Leone mines have proven reserves of gold and other precious metals. The property is located in the greenstone belt of West Africa, one of the worlds fastest growing areas of gold exploration and development.

Larger competitors include Goldcorp (NYSE:GG), IAMGOLD Corp, (NYSE: IAG), Bema Gold Corp. (NYSE: BGO), and Metallica Resources (AMEX: MRB). The company claims to possess gold reserves valued at $586 million. Based on approximately 79 million shares outstanding, this suggests the value of Sierra Golds gold reserves (before extraction costs) to be approximately $7.42 per share. Further analysis indicates the presence of potential gold bearing gravel at lower depths than previous sampling reports.

A report on the mining property estimates gold reserves of 520,000 ounces with grades of .12 oz/ton. The Company conducted extensive assaying in late 2005 that established the presence of large quantities of gold of grades 2.62 gm/ton at depths twice those considered in the analysis.

Beacon Equity Research Disclosure

The analysts contributing to this report do not hold any shares of Sierra Gold Corporation (SGCP). Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research (Beacon) certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. As a potential conflict of interest, Beacon has directly been compensated two-hundred fifty thousand free trading shares from a non-controlling third party shareholder for enrollment of SGCP in its research program. These shares will be sold in the open market at any time following the issuance of this research report and may negatively affect the performance of the stock price. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.

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