NEW YORK, Feb. 1, 2013 /PRNewswire/ -- Dolat Ventures
Inc. (OTC: DOLV) announced today that its it is expected to
enter into a timber operation located in the Kono district of
Sierra Leone. The Company is
currently investigating a 45k acre project which is expected to
produce up to $150,000 to $200,000 a
month once in operation. The license has already been issued and
DOLV is currently in negotiations to begin operations upon complete
due diligence.
The government of Sierra Leone
is distributing a few exclusive licenses to cut timber for export.
DOLV intends to have access for operations to a private forest of
about 45,000 acres to utilize the license. The advantage of a
private forest as opposed to a public forest is that DOLV will have
direct access to a variety of African hardwood timber which are in
high demand for export without the need for a government lease.
DOLV is projecting that once underway, the project may generate up
to $500,000 a month and progress to
$2,000,000 a month. The projections
depend on the size of the DOLV operation over the next three
quarters. Additional information on the DOLV timber project will be
released over the next month.
Sierra Leone is considered one
of the most stable countries on the African continent. It has a
thriving democracy along with a growing economy and the investment
climate is booming. Sierra Leone's
coast has fertile seas, vast mineral resources and hard working
people...a true land of opportunity.
Dovid Hauck, President of Dolat
Ventures stated, "Our future continues to be very exciting with
this additional revenue source. The Company remains focused on
expanding its diamond resources at the Baimbawai Pool on the Sewa
River. At current grades and diamond values, the Baimbawai Pool on
the Sewa River potentially maybe one of the highest known value per
ton kimberlites globally. Dolat is also in preliminary negotiations
with other mines within 10 kilometers from Dolat's mines that have
an interest in being acquired. There is plenty of opportunity for
expansion in diamonds and into gold, timber and other metals. We
intend to be drilling and upgrading the resource statement during
the fourth quarter of this year and I look forward to updating
shareholders as we progress."
About Dolat Ventures Inc. (OTC: DOLV) www.dove-diamonds.com:
Dolat Ventures Inc. through its wholly owned subsidiary Dove
Diamonds & Mining intends to sell, market, cut and distribute
its diamonds and gems around the world. Dolat's Millenium Mining is
located in the Sewa River, located in the heart of Sierra Leone, West
Africa formed by the junction of the Bagbe and Bafi rivers;
it flows 150 mi (240 km) to join the Waanje River and form the
Kittam, which empties into the Atlantic Ocean. The country's most
important commercial river, it has historically produced the bulk
of Sierra Leone's diamond exports.
The company intends to wholesale its rough and uncut diamonds
globally.
Forward-Looking Statements This press release may contain
certain forward-looking statements within the meaning of Section
27A of the Securities and Exchange Act of 1933, as amended, and
Section 21E of the Securities and Exchange Act of 1934, as amended,
and such Forward Looking Statements are intended to be covered by
the safe harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainties. All
statements other than statements of historical fact in this
announcement are forward-looking statements, including but not
limited to the viability of the company's business plans, the
effect of acquisitions on our profitability, the effectiveness,
profitability, and the marketability of the Company's products; the
Company's ability to protect its proprietary information; general
economic and business conditions; the volatility of the company's
operating results and financial condition; and other risks detailed
in the Company's filings with the Securities and Exchange
Commission.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the company and the
industry. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or to changes in its expectations, except as may
be required by law. Although the company believes that the
expectations expressed in these forward-looking statements are
reasonable, management cannot assure the public that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
Dovid Hauck, President
Tel: 212-502-6657
Fax: 212-501-2077
Email: info@dove-diamonds.com
SOURCE Dolat Ventures Inc.