Sandspring Resources Ltd. announced it has completed an updated NI 43-101 mineral resource estimate and an updated NI 43-101 Preliminary Economic Assessment for its 100% owned Toroparu Gold Property in Guyana. Highlights include: Mining of 1.0 million ounces gold at an average grade of 1.2 g/t and 101 million pounds copper at an average grade of 0.18% from the fresh rock mining operation over the first five years of operation; $750 million cumulative cash flow during first five years of production at December 31, 2011 three-year trailing average gold price of $1,255/oz; Pre-production capital costs of $482 million through development of more capital efficient operation for the first five years of mine life; Average cash costs including royalties of $450/oz. gold (net of copper credits) in first five years of operation and $600/oz. gold (net of copper credits) over the 14-year mine life; Mining of 4.0 million ounces gold from fresh and saprolite mineralization at an average grade of 1.0 g/t Au over a 14-year mine life at 4.1: 1 strip ratio, and 5.0 million ounces gold over 22-year life of project; Definitive Mineral Agreement signed with government of Guyana on November 9, 2011, the terms of which have been incorporated into the Updated PEA; Environmental authorization reviewed by Guyana Environmental Protection Agency with no fatal flaws found; and final approval is pending; Open pit operations anticipated to commence in 2015.