[b]CRWV-[[/b]b]Gm balamidas, huge after hour news$Crowne Ventures Acquires Adjacent Gold and Silver Property After Previous Lab Results Prove Even Stronger
2011-08-26 19:04 ET - News Release
LAS VEGAS, NV -- (MARKET WIRE) -- 08/26/11
Crowne Ventures, Inc. (PINKSHEETS: CRWV) is pleased to announce that CEO Dane Peterson has completed negotiations and secured an adjacent property along the proven trend line of the Company's Gallo de Oro Property. Preliminary assay results of the new Oro de Rojas property have indicated the largest values to date of up to 9.6/oz. per ton. This property is widely known for its mining history dating back well over 100 years. Government geological reports show promising results.
Negotiations for Crowne Ventures to acquire additional gold/silver claims, adding to its existing 5-year revolving lease agreement with World Investment of Mexico in the Tecuala Mining District, will continue.
Mr. Peterson remarked, "With our current open pit extraction and production well under way and excavation of recoverable ore having been stepped up recently, it is only a natural next step to acquire an interest in the additional property. In addition, with the strength of recent laboratory results, Crowne Ventures will continue to acquire all available properties along this proven trend line, as dictated by additional results."
Mr. Peterson continued, "At this juncture, I would hope that people understand that there is a 'land rush' globally, for gold, silver and precious metal claims, because of the devaluation of currencies, and worldwide volatility. Crowne Ventures has every intention of capitalizing on this with the acquisition of additional, ultra-strong geological formations, primarily focusing on the West Coast of Mexico at this time. I believe that Crowne needs to be in a sustainable, growth mode of acquisitions and prudent production as our own new projects come on line."
Immediately, Crowne Ventures is continuing to expanded extraction operations on the Gallo de Oro site after recent laboratory results. Infrastructure in the form of additional road construction, security buildings, portable power supplies, and secured fencing and gates are being organized as the Company expands its operations.
Mr. Peterson concluded by saying, "Securing the Gallo de Oro and Oro de Rojas properties and the estimated 9.5 million tons of ore, make expanding the extraction of recoverable ore from our open pit configuration an absolute must. The addition of Oro de Rojas property to the Gallo de Oro property allows for continued production along this rich formation."
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the Company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the Company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
For Further Information Contact:
Investor Relations
Crowne Ventures, Inc.
310.461.3703
email: Email Contact
website: www.crownemining.com
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