AUMY 0.04 HUGE NEWS $1 Billion worth > Plateau Mineral Announces the Addition of Auric Mining to the Homestead Joint
Venture Development of the Estimated $1 billion St. Kevin Gold and Silver
Property
NEW YORK, May 5, 2011 /PRNewswire via COMTEX/ -- Plateau Mineral Development,
Inc. ("Plateau Metals") (pinksheets:PMDP) announced today that it welcomes the
addition of Auric Mining Company ("Auric", AUMY:PK) to the Homestead Gold and
Silver Corp. Joint Venture for the development of the St. Kevin Mine located near
Leadville, Colorado.
Plateau Metals had recently announced the signing of a Joint Venture Commitment
Agreement with Homestead Tonopah Gold LLC to develop the St. Kevin Mine property;
and the addition of Auric Mining Company strengthens the team and resources
available to successfully complete an ambitious 2 year drilling program that is
intended to extend the proven gold and silver reserves on the property by as much
as ten times which would value the resource at approximately $1 billion based on
current prices for the precious metals.
Auric Mining recently announced the signing of a Letter of Intent (LOI) regarding
the acquisition of Homestead Tonopah Gold LLC with the intent of partnering with
Homestead and Plateau on the St. Kevin Mine development. The combination of
Homestead, Auric and Plateau will provide the necessary expertise, financing,
facilities, equipment, technology, and resources that are required by the size
and scale of the St. Kevin mine project. The companies are also currently
exploring additional opportunities.
The St. Kevin Mine is registered under the claim name St. Kevin, claim number
3364 and covers 10.33 net acres. It was discovered in 1883 and is located
approximately 7 miles northwest of Leadville, Colorado and 3346 meters above sea
level. The site was initially operated continuously for 10 years and several
times after that period.
The Company expects to make further details available regarding the Joint Venture
and drilling program as the schedules and timetables are finalized.
Plateau Metals anticipates continued demand and price increases in precious
metals, therefore the Company has recently announced the consolidation of its $80
million Financial Guarantee allowing the Company the flexibility to utilize funds
for multiple purposes, including surety underwriting for customer transactions as
well as financial backing for the Company's prospective acquisitions.
Additionally, the company has recently announced its real-time metals trading and
storage program.
The Company has other initiatives relating to the acquisition of metal production
and storage facilities to be announced as they mature. The Company also has
certain strategic plans regarding international currency networks backed by gold
and silver. Corporate updates regarding these new initiatives will be announced
in the coming weeks.
The Company believes the international demand for precious metals, combined with
the worldwide fear of the declining US Dollar, will combine to create strong and
rapid growth for the company across all its operations.
ABOUT PLATEAU METALS
Plateau Metals provides precious metal trading, shipping, production, transaction
underwriting, and related services. Plateau operates across the world through its
agents and offers service to multiple jurisdictions. Plateau offers complete
solutions to buyers and sellers of precious metals that include storage,
shipping, and transaction underwriting and arbitrage.
Plateau also acquires, develops, integrates and operates strategically aligned
precious metal assets in worldwide markets where expansion is planned through
additional investments to support organic growth; thereby providing significant
revenue, and equity growth.
The Company's operations are distributed across multiple international time zones
with executives and agents located in client-appropriate locales. The Company's
website is www.plateaumetals.com.
Safe Harbor Statement:
This information includes certain "forward-looking statements." The
forward-looking statements reflect the beliefs, expectations, objectives and
goals of the Company management with respect to future events and financial
performance. They are based on assumptions and estimates, which are believed
reasonable at the time such statements are made. However, actual results could
differ materially from anticipated results. Important factors that may impact
actual results include but are not limited to commodity prices, political
developments, legal decisions, market and economic conditions, industry
competition, the weather, changes in financial markets and changing legislation
and regulations. Matters discussed in this press release may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and similar
expressions identify such forward-looking statements. Actual results, performance
or achievements could differ materially from those contemplated, expressed or
implied by the forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and are subject
to a number of risks and uncertainties. These include but are not limited to
risks and uncertainties associated with the impact of economic, competitive and
other factors affecting the Company and its operations, markets, product, and
distributor performance, the impact on the national and local economies resulting
from terrorist actions, and U.S. actions subsequently; and other factors detailed
in reports filed by the Company. Forward-looking statements are intended to
qualify for the safe harbor provisions of Section 21E of the Securities and
Exchange Act of 1934, as amended.
CONTACT:Plateau MetalsInvestor RelationsNew York: 1.917.463.3364London: +(44)
(0)20 337 17122Fax: +(44) (0)208 338 0655info@plateaumetals.com
SOURCE Plateau Mineral Development, Inc.
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