Gold Mining USA Signs Heads of Agreement With Riverstone Resources to Acquire a Valuable Mining Tenement in Queensland Australia
8:02a ET December 15, 2014 (GlobeNewswire) Print
Gold Mining USA, Inc. (OTC:GMUI), an emerging mineral resources company, is pleased to announce that the Company has achieved what it calls a unique and valuable acquisition of a 24 acre mining tenement that is located near Eidsvold in Queensland, Australia. The property that the claim is on is rich in alluvial minerals.
Riverstone Resources mining tenement contains approximately 300,000 ounces of gold (ML 80077), according to the Company plus an extraction license (DERM Permit number: IPCE015389) for alluvial gold/sand and gravel over an adjoining 16,500 acres. The sand and gravel operation alone is forecasted to have a production life in excess of 80 years with hundreds of millions of tons of continuous alluvial surface area available.
"Our team of civil engineers has evaluated many valuable mineral and precious metal properties in Queensland over the past several months which has led to the Company's decision to acquire Riverstone Resources. We plan to commence operations to extract gold in early 2015 and anticipate this project to be very profitable for the Company and its shareholders," commented Gold Mining USA's President, Mr. Byrne states.
"Numerous geological reports exist which identify that the area containing this resource has been of great interest as a potential source of alluvial mineralisation since the turn of this century and minor resources have historically been exploited here as indicated by the appearance of several mining leases," concluded Mr. Byrne.
Management also noted that the Company began an auditing sequence in August of this year and is progressively working on releasing its audited third quarter financial statements in the near future.
About Gold Mining USA, Inc.
Gold Mining USA, Inc. is an emerging mineral resources company focused on developing metallurgical and mining projects. The Company's business model is to acquire projects with the potential to provide significant resources through exploratory drilling and generate value through their development, joint venture or divestment. For more information, visit www.gmuiinc.com.
Forward Looking Statements
This news release contains forward-looking statements made by Gold Mining USA, INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. It is always best to seek advice from a licensed financial advisor before making any investment.
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