Tombstone Exploration Corporation Acquires 26% Interest in EuroGas AG of Switzerland
2013年12月10日 - 11:00PM
Marketwired
Tombstone Exploration Corporation Acquires 26% Interest in EuroGas
AG of Switzerland
EuroGas Inc. Commits to $5 Million Exploration and Drilling
Program for Tombstone's Porphyry Copper Gold Exploration Property
in Arizona
PHOENIX, AZ--(Marketwired - Dec 10, 2013) - Tombstone
Exploration Corporation (OTCQB: TMBXF) (BERLIN: UDNA), announced
today a strategic Corporate and Financing Investment that will
include the acquisition of a 26% interest in EuroGas AG of Zurich,
Switzerland, an international Natural Resources Holding Company
with European assets in industrial minerals, oil and gas interests
as well as base metal and precious metal assets located in the
USA.
Under the Strategic Corporate Investment in EuroGas AG, TMBXF
will also receive from EuroGas Inc. a committed financing in the
amount of $5 million USD for extensively drilling its wholly owned
USA porphyry copper-gold project in Arizona, USA. A previous
airborne survey completed in 2011 by Toronto Canada based Geotech
Ltd., indicated the geological presence of a potential deep seated
copper porphyry orebody similar to other large producing
copper-porphyry ore deposits throughout Arizona.
EuroGas Inc., a US Company, has a longstanding corporate
relationship with TMBXF and was owning until now approximately 9%
of the capital of TMBXF, as well as owning itself a large block of
prolific mining claims adjacent to the Tombstone Mining Claim block
in the Tombstone Mining District in Arizona. In the mid 1970s,
ASARCO, a major US mining Company, made a deep seated significant
low grade copper discovery on EuroGas' mining claims at "Robbers
Roost" which had led to the past and present cooperation between
TMBXF and EuroGas Inc.
EuroGas Inc. is also the controlling shareholder of EuroGas AG
of Zurich, Switzerland and currently owns 70.17 percent of the
fully issued and outstanding 925 million EuroGas AG shares, out of
which it will now exchange 240 million EuroGas AG shares,
representing 26 percent of EuroGas AG's capital in exchange for 348
million shares of TMBXF, together with a financing commitment by
EuroGas to provide Tombstone Exploration Corporation with working
capital of $5 million. EuroGas AG's last Audited Financial
Statements show Total Assets of approximately CHF 145 Mill.
(approximately $155 million) with very little Liabilities.
The major asset of the EuroGas Group is its legal claim to the
huge industrial minerals soapstone (talc) ore deposit in the Slovak
Republic, which ranks amongst the largest and purest of its kind in
the world. The Gemerska Poloma deposit was illegally expropriated
under dubious circumstances by the Slovak Republic's Government in
late 2004 and deprived EuroGas' 90% owned Slovakian subsidiary
Rozmin s.r.o. of its lawful right to place the deposit into
production. Despite three non-appealable Final Judgments by the
Highest Court of the Slovak Republic in favor of Rozmin, the
Ministry of Economy's Mining Administration Office of the Slovak
Republic has not returned yet the huge Gemerska Poloma mine to its
rightful and legal owner Rozmin s.r.o. The Slovak Republic has
recently published that the Gemerska Poloma orebody contains in
excess of 140 Mill. tons of mineable reserves. Independent Slovak
Government Geologists have put a value of more than $ 1.5 billion
on the proven and probable reserves of only the Western part of the
deposit.
Two years ago, EuroGas Inc.'s solicitors officially informed the
President of the Slovak Republic of EuroGas' intent to file damage
charges against the Slovak Republic and provided the Slovak
Republic with the formal "Intent to Arbitrate" seeking damages in
the amount of $1.65 billion as published in EuroGas' Press
Releases. EuroGas is currently in the process to proceed shortly
with International Arbitration (ICSID) against the Slovak Republic
within the scope of the Investor Protection Program provided by a
Bilateral Investment Treaty (BIT) between the United States of
America and the Slovak Republic in front of an independent Tribunal
of the World Bank in Washington D.C.
Wolfgang Rauball, Chairman & CEO of EuroGas Inc. and EuroGas
AG stated: "The new Strategic Corporate Agreement between EuroGas
Inc. and its 70.2 percent controlled Swiss subsidiary EuroGas AG
and Tombstone Exploration Corporation will result in a very strong
Corporate Alliance between our Corporations and will strongly
enable our common search for a deep seated copper-porphyry deposit
as indicated by previous operators, like ASARCO, as well as also
indicated by the interest of our claim neighbor in the Tombstone
Mining District, Phoenix, Arizona based Freeport McMoran, the
largest publicly trading copper-gold producer in the world.
"We are very happy to be able now to develop this exciting
copper-gold-silver mining project of TMBXF after EuroGas' own
corporate reorganization process in Europe has been successfully
finalized, and after the extensive and time-consuming legal
preparations of our Paris, France based solicitors regarding our
huge damage lawsuit against the Slovak Republic for the illegal
2004 expropriation of our lawful mining rights to our world-class
Gemerska Poloma soapstone (talc) deposit are finalized and the
commencement of the Arbitration procedures against the Slovak
Republic is now well on its way."
Alan Brown, President of TMBXF stated: "This transaction creates
a premier USA-European resource partnership with a substantial
European holding company with its portfolio of precious metals,
industrial minerals and oil and gas assets."
TMBXF's immediate focus will be executing a drill program on its
wholly owned gold targets on the Zebra Property along with updating
the plan for the major porphyr targets identified via Geotech Ltd.,
ZTEM report released in 2011. Of the targets that have been
identified, two have precious metal (Gold and Silver) occurrences
as "halos" around the properties, which are significant
characteristics of porphyry systems. One of these identified
structures has been compared by Geotech Ltd. to the Mt. Milligan
deposit. These extensive drill programs are to prove a mineable ore
body that has been overlooked for generations.
A more detailed report on the assets of EuroGas AG and the start
of TMBXF's 2014 Exploration and Development work program will be
forthcoming.
FORWARD-LOOKING STATEMENTS Statements contained herein that are
not historical facts may be forward-looking statements within the
meaning of the Securities Act of 1933, as amended. Forward-looking
statements include statements regarding the intent, belief or
current expectations of the Company and its management. Such
statements are estimates only, as the Company has not completed the
preparation of its financial statements for those periods, nor has
its auditor completed the audit of those results. Actual revenue
may differ materially from those anticipated in this press release.
Such statements reflect management's current views, are based on
certain assumptions and involve risks and uncertainties. Actual
results, events, or performance may differ materially from the
above forward-looking statements due to a number of important
factors, and will be dependent upon a variety of factors,
including, but not limited to Tombstone Exploration Corporation's
ability to obtain additional financing. Tombstone Exploration
Corporation undertakes no obligation to publicly update these
forward-looking statements to reflect events or circumstances that
occur after the date hereof or to reflect any change in Tombstone
Exploration Corporation's expectations with regard to these
forward-looking statements or the occurrence of unanticipated
events. Factors that may impact Tombstone Exploration Corporation's
success are more fully disclosed in Tombstone Exploration
Corporation's most recent public filings with the U.S. Securities
and Exchange Commission.
CONTACT: Tombstone Exploration Corporation Alan M. Brown
President 480-305-4507
480-452-0286 (fax)
Email Contact www.tombstonemining.com EuroGas Group
www.eurogas-ag.com Investor Relations: The Eversull Group, Inc.
Jack Eversull President 972-571-1624
214-469-2361 (fax)
Email Contact
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