Sierra Resource Group Inc. (fka SIRG)

[lmcat]

WRONG AGAIN AND POSTING FALSE AND MISLEADING INFORMATION AGAIN!

Every investor knows that it takes money to start and build a company. Their are no notes overdue and SIRG is current on all debt!

In April 2012 the company laid claim that they turned down funding because it was share holder unfriendley (ie: toxic), however the company was already engaged in toxic (ie: share holder unfriendley) financing the entire time.

Proof please for this false statement!

Here is my proof showing this is a lie.

At its annual meeting of the stockholders on April 21, 2011 a majority of stockholders of the Company approved the Copper Cathode Sale and Purchase Agreement by and between the Company and Harmony Mining Ltd. (“Harmony”). The general terms of the agreement provided Harmony the ability to purchase approximately 5,040,000 lbs of copper cathode at a discount to the current market price and 10,000,000 shares of the Company’s Preferred Stock in exchange for a guaranty by Harmony of a bank credit line of a minimum of $6,000,000.

Effective October 12, 2011 the Copper Cathode Sale and Purchase Agreement was terminated by mutual agreement between the Company and Harmony. All prior terms of the agreement are void and no longer valid. Both parties agreed to mutually release the other without any recourse against the other.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8547623 Page 3!

SIRG NEVER gave a reason for terminating the Harmony funding and it was in Oct of 2011 so YOUR STATEMENT IS AN OUTRIGHT LIE.

In September 2011 the Company engaged Wilcox Professional Services of Phoenix, AZ to provide exploratory drilling and laboratory services with regard to its Tailings Impoundment project (“Tailings”) and then engaged Geological Group Mining & Environmental Consultants, Inc. to review the analyses of Chloride Mine tailings presented in the Certificate of Analysis by ALS Minerals, dated October 13, 2011.

The conclusions, based on the analyses provided by the Wilcox drilling and ALS Mineral Lab Tests, were that there is a resource of approximately 9.9 million pounds of copper and 9.0 million pounds of zinc in the tailings.
It was also recommended that additional test work to confirm the analyses and the recoverable copper and zinc be done. The tailings are the waste product from the previous operation of the Emerald Isle Mine from 1943 to 1973 when copper recovery was much lower than today’s recovery rates.

The primary effort of SIRG is to acquire the necessary funding to bring the Chloride Copper Mine into production in order to generate working capital and profits from its operation.

Now it cost money to have that 3rd party testing done thus the need for more funding. (5 gal buckets of surface material would not be acceptable.)

Why did Rod proceed with the testing after the cancellation of the Harmony funding?

Probable answer: Rod had another potential source of funding lined up but they wanted proof that there was recoverable ore in the tailing piles so to satisfy their request he ordered the testing.