WOODLAND HILLS, Calif.,
Oct. 03, 2012 /PRNewswire/
-- ABOT Mining (Pink Sheets: ABOT.pk) is pleased to announce
its acceptance of ore quality for the acquisition of the first 500
tons of gold and silver ore (the "Ore") from Rising Star Mining
("Operating/JV Partner").
This is the first step in formalizing the recently announced
non-binding letter of intent and evaluating market value of the
Ore. The Ore stockpile is located within 5 miles radius of Aztlan
8B Project and consists of up to 18,000 tons of Ore. In order to
limit the production and processing risk, the Company shall not be
obligated to purchase any Ore lot not having an average grade of
Gold, Au < 5 g per ton and Silver, Ag < 35 g per ton.
The Company is further expected to announce important details of
a formal legally binding agreement (the "Agreement") that will
layout terms and conditions for respective parties and provide
tentative schedule for the production and sale of gold and silver
from this first run.
About the Company
ABOT is a US based mining company engaged in discovering,
acquiring, developing, producing, and marketing precious and
semi-precious metal properties and is currently headquartered in
Woodland Hills, California. ABOT
plans to create long term shareholder value by implementing an
aggressive exploration program, making new precious metals
discoveries and developing mining properties with long-life and low
cost operation.
Forward-Looking Statement
Any statements made in this press release which are not
historical facts contain certain forward-looking statements; as
such term is defined in the Private Security Litigation Reform Act
of 1995, concerning potential developments affecting the business,
prospects, financial condition and other aspects of the company to
which this release pertains. The actual results of the specific
items described in this release, and the company's operations
generally, may differ materially from what is projected in such
forward-looking statements. Although such statements are based upon
the best judgments of management of the company as of the date of
this release, significant deviations in magnitude, timing and other
factors may result from business risks and uncertainties including,
without limitation, the company's dependence on third parties,
general market and economic conditions, technical factors, the
availability of outside capital, receipt of revenues and other
factors, many of which are beyond the control of the company. The
company disclaims any obligation to update information contained in
any forward-looking statement. This press release shall not be
deemed a general solicitation.
Contact:
Imran Firoz, President
Abot Mining Co.
ABOT.PK
6303 Owensmouth Avenue | 10th Floor
Woodland Hills | CA
91367
T: +1 818.302.0100
E: info@abotmining.com
SOURCE ABOT Mining Co.