Tuesday, September 18 2007 8:30 AM, EST
--------------------------------------------------------------------------------
Advanced Mineral Technologies, Inc. Reports Gold Property Valued at $406 Million
Business Wire "US Press Releases "
FAIRFIELD, Idaho--(BUSINESS WIRE)--
Advanced Mineral Technologies, Inc. (PINK SHEETS: AMTO), a silver and gold exploration and development company, today announced the valuation of its Tillicum Mountain Gold Property to be approximately $406 million. The valuation was a result of 6 reports estimating over 1 million ounces of gold reserves. These numbers in the reports reflect gold reserves only and none include any silver which is known to be on site.
"The valuation of $406 million for the Tillicum property reflects only the sites that have been drilled," stated H. Phillip Cash, President and CEO of Advanced Mineral Technologies, Inc. "The site remains open to further exploitation at depth, and also to the south, both regions are currently undrilled."
The Tillicum Mountain Property is made up of four zones: East Ridge, Heino, Gustafson Mine, and Tillicum Shoot-1 through 8. Production has not yet begun. The final pre-production phase will also encompass additional testing, identification of drill target areas, detail mapping and procuring all of the necessary permits with British Columbia.
The 6 reports used for valuation of the property were:
1. Reserve Estimate Report- Devlin and Tupper, 1989
2. Reserve Estimate Report- Columbia Gold Mines, 1990
3. Reserve Estimate Report- George Addie, 4/22/1996
4. Site Mineral Reserve Study- George Addie, 11/15/1996
5. Geology Report- George Addie, 12/5/1996
6. Site Assessment Report- Watts, Griffis, & McQuat, 4/22/2002
About Advanced Mineral Technologies, Inc.:
Advanced Mineral Technologies, Inc. owns a 100% interest in AMT Industries Canada, Inc. which owns the rights to the Tillicum Mountain Gold Property in south-eastern British Columbia, Canada. The property consists of approximately 16,000 acres over 28 land tenures in the Slocan Mining Division, about 200 miles north of Spokane, Washington. The rights include extensive reserves of extremely high grade gold and silver situated in an underground deposit. Over $12 million has been spent so far on the project.
The gold ore reserve calculations carried out in the 1996 Addie geology report show 500,000 ounces of drill indicated proven reserves and 250,000 ounces of reserves in other categories. Current valuation of the Tillicum Mine is $320 million. The project consists of four areas with the East Zone being the most lucrative although several of the zones have discernable gold ore at several different levels, as measure in meters.
Safe Harbor: Statements included in this press release, which are not historical in nature, are intended to be, and are hereby identified as "Forward-Looking Statements" for purposes of safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Forward-Looking Statements may be identified by words including "anticipate," "await," "envision," "foresee," "aim at," "plans," "believe," "intends," "estimates," "expects" and "projects" including without limitation, those relating to the company's future business prospects, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the Forward-Looking Statements. Readers are directed to the company's filings with the U.S. Securities and Exchange Commission for additional information and a presentation of the risks and uncertainties that may affect the company's business and results of operations.
Source: Advanced Mineral Technologies, Inc.
AI
Market Data 
Markets 
