February 06, 2013 at 14:36 PM EST
Jennings Capital Initiates Coverage on Volta Resources with a Speculative Buy Recommendation - Video Overview Posted on www.InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - February 6, 2013) - Investment firm Jennings Capital has initiated coverage on Volta Resources (TSX: VTR). Analyst Dan Hrushewsky gives the company a speculative buy recommendation and a 12-month target price of $1.35 per share, a 200% premium to the current price of $0.44.

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Volta’s flagship project, the Kiaka Gold Project, is located in Burkina Faso, the 4th largest gold producer in Africa. Burkina Faso’s mining friendly mining code, government, people, and its geo-political stability, have driven huge growth in its gold mining industry, with six new gold mines built since 2007.

The Company has completed a prefeasibility study at its Kiaka Gold Project. A recently updated NI 43-101 compliant resource at Kiaka Gold Project, including Kiaka South reports Measured and Indicated Resources of 4,029,000 ounces and Inferred Resources of 1,000,000 ounces of gold. This resource is contained within a single open-pit, down to an average vertical depth of 500 metres. Included in the resources are Proven and Probable Mineral Reserves of 126.08 million tonnes at a diluted grade of 0.96 grams per tonne gold at a 0.40 grams per tonne cut-off.

Jennings Capital believes this project is the largest single undeveloped resource in West Africa, with 98% of the ounces in one pit.

It is anticipated that Volta will present its Bankable Feasibility Study in the third quarter of 2013, on a selective mining scenario, based on the revised January 2013 resource estimate.

At its Gaoua Copper-Gold Project, Volta has defined a maiden NI43-101 compliant resource which includes over 1,072,000 ounces of gold and 725 million pounds of copper on two of potentially several porphyry deposits located on 35 kilometre of strike of a porphyry corridor held by the company.

Volta Resources is exploring on a total of 9 projects, comprising 29 individual properties over highly prospective greenstone belts, located in both Burkina Faso and Ghana.

Management has extensive West African experience, which Jennings believes was the primary reason behind Randgold Resources’ reason to vend the Kiaka Project to Volta in 2009.

Jennings believes there is limited downside risk, stating, “Our valuation of Volta’s non-core assets equals $78 million, which is higher than the current market capitalization of Volta.”

Volta Resources currently trades at $0.44 and with 155 million shares outstanding the company is capitalized at $68 million.

For more information please visit the company’s website www.voltaresources.com, or call Kevin Bullock at 416-867-2299 or email kbullock@voltaresources.com.

For more information about Jennings Capital or to obtain a copy of their research report, contact your nearest Jennings Capital office. Their branches are listed on their website at www.jenningscapital.com.

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