STEUBENVILLE, OH - (NewMediaWire) - October 22, 2015
- Osceola Gold Inc. (OTC PINK: PYHH) Osceola Gold wishes to clarify and affirm
the company's leases in Nevada. The Company has contractual
rights to 13 mining leases from Pizz Inc, a privately held company.
Previously these leases were contracted in conjunction with another
company, Genesis Mining Corp. The contracts between Pizz Inc and
Genesis Mining Corp have since
been terminated by Pizz Inc,
leaving Osceola Gold
in sole possession of said leases
and all gold mining claims.
"We are quite pleased with this development and the enormous
near-term prospects for Osceola Gold," stated Chris Tarquino, Chief
Executive Officer, Osceola Gold. "We anticipate our custom built
mining equipment will soon be on site and will be put into
immediate production upon arrival. We plan to develop and mine all
13 sites as well as others in the future."
As previously announced, the Company has now emerged as a gold
mining operation focused in the famous Osceola Mining District of
White Pine County, Nevada. Osceola Gold Inc. has retained all
mineral rights for all precious metals, including gold deposits, on
their leased land, an over 20 acre expanse of gold mining claims
known as Mav G.
Geological reports prepared by Skookum Geological have indicated
the value of Mav G at $300-500 million. Historical reports have an
average value to a FALSE bedrock at $132.00 per cubic yard. All
permits and bonds have been put into place for the mobilization of
this project.
Osceola Gold Inc. has also obtained first right of refusal for
production on the other Mav claims.
Mining in the Osceola District, White Pine County, Nevada, was
launched in the 1870s and continues to this day. Major efforts were
put forth in the late 1800s, 1930s and 1970s, with both lode and
placer mining striking success with the removal of considerable
amounts of gold. Studies conducted throughout these periods
indicate economically viable amounts of gold in both the bedrock
and in particular, the placer deposits that remain. For more
information visit: http://www.nbmg.unr.edu/
The Company has applied for a corporate name and symbol change.
As FINRA concludes due process yielding a final approval, the new
name and symbol are expected to go immediately into effect.
Safe Harbor Act: Forward-Looking Statements are included within
the meaning of Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements regarding our expected future financial position,
results of operations, cash flows, financing plans, business
strategy, products and services, competitive positions, growth
opportunities, plans and objectives of management for future
operations, including words such as "anticipate," "if," "believe,"
"plan," "estimate," "expect," "intend," "may," "could," "should,"
"will," and other similar expressions are forward-looking
statements and involve risks, uncertainties and contingencies, many
of which are beyond our control, which may cause actual results,
performance, or achievements to differ materially from anticipated
results, performance, or achievements. We are under no obligation
to (and expressly disclaim any such obligation to) update or alter
our forward-looking statements, whether as a result of new
information, future events or otherwise.
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