Vanguard Mining Corporation Acquires 70% Interest in an 8,100-hectare Gold Concession in North Sumatra, Indonesia
2014年6月9日 - 10:00PM
Access Wire
NEW YORK and Jakarta, Indonesia / ACCESSWIRE / June 9,
2014 / Vanguard Mining Corporation (Pink sheets:
VNMC) today announced that the Company has signed an agreement with
PT Cendrawasih International to acquire a 70% equity interest in an
8,100-hecatare gold tenement in Mandailing Natal, North Sumatra,
Indonesia.
VNMC will pay $6,500,000 in a combination of cash and stock of
the company for a 70% equity interest in the gold concession, which
has estimated gold deposits between 400,000 to 1 million ounces,
subject to independent technical verification. This
transaction is scheduled to close after satisfactory legal,
financial and technical due diligence review. VNMC and PHI Capital
Holdings, Inc. (www.phicapitalholdings.com), a Nevada corporation,
will be responsible for raising the required capital to develop and
operate this mining project, whereas PT Cendrawasih will pay its
part of capital contribution out of its proportional share of
profits from the gold mine operation.
Jay Muhd, a principal of PT Cendrawasih, said: "We look forward
to completing professional exploratory work on the gold tenement,
including a JORC-compliant feasibility study, in order to bring the
property to operation and production status. This cooperation will
bring amazing revenues and ultimately incredible shareholder
value."
Quang Le, Senior Geologist and Executive Vice Chairman of VNMC
said."The surrounding gold mining activities include Sumatra Gold
& Copper (two concessions of 4,997 ha and 4,719 ha each) and
Sihayo Gold (33,000 ha), both publicly traded companies on ASX. We
are expecting to have great success in developing our own
concession in the same area."
About Vanguard Mining Corporation
Vanguard Mining Corporation, a Nevada corporation established in
1987, is currently building a portfolio of mineral assets in
Southeast Asia, including limestone in Vietnam and gold, copper,
limestone, and manganese in Indonesia. The company has also
investigated mineral asset opportunities in other geographical
areas. http://www.vnmcglobal.com
Safe Harbor: This news release contains
forward-looking statements that are subject to certain risks and
uncertainties that may cause actual results to differ materially
from those projected on the basis of such forward-looking
statements. Such forward-looking statements are made based upon
management's beliefs, as well as assumptions made by, and
information currently available to, management pursuant to the
"safe-harbor" provisions of the Private Securities Litigation
Reform Act of 1995.
Contact:
Tony Nguyen
Vanguard Mining Corporation Corp.
702-605-4506
corpsec@vnmcglobal.com
SOURCE: Vanguard Mining Corporation
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