DENVER, Nov. 2, 2010 /PRNewswire/ -- Supatcha Resources Inc. (OTC Bulletin Board:SAEIE.ob - News) ("Supatcha" or the "Company") is pleased to provide the following exploration and corporate update.
Additional Drill Rigs Added at the Vynohradiv Gold Project
An additional diamond drill rig was mobilized to the Vynohradiv Gold Project ("Vynohradiv" or the "Project") in mid October. A total of three drill rigs are currently turning on site as part of the Company's 8-month drill program that commenced in September 2010 (see press release dated September 9, 2010).
Supatcha's exploration program will include in-fill, metallurgical, and geotechnical drilling to establish the continuity of gold mineralization, metallurgical characteristics, and engineering parameters of the deposit. Metallurgical characteristics of collected ore samples will be independently tested and analyzed.
Corporate Update
'E' Removal Update
The "E" has been added to Supatcha's symbol due to complexity in the transfer of records from its recently acquired Maiskoe Gold Mine property in Odessa Oblast, Savaransky District, Southern Ukraine announced September 29, 2010, thus delaying the 2010 Q2 Report filing on Form 10-Q. The "E" designation was an indication reflecting the late filing of required reports and has not stopped or hindered the trading of the company's stock.
"This change in our symbol is only temporary and has changed nothing about our day to day operations or trading," says Nikolae Yagodka, CFO and Director of Supatcha. "We anticipate the 'E' to be removed in the coming week so we can keep all of our investors and potential investors completely up to date on our progress and abreast of our financial conditions as required by FINRA, there will be no change to our CUSIP number."
Working Partnerships
Our recent assay results announced on October 4, 2010 has attracted a substantial amount of interest from other junior and major mining companies. We have received an exorbitant amount of Acquisition and Joint Ventures proposals for our Barlevskoye and Vynohradiv projects, which we are reviewing carefully.
Corporate Share Structure
The current share structure of Supatcha Resources is as follows:
Authorized Shares: 70 million
Issued and Outstanding Shares: 61 million
We do not expect any reverse split or forward split to our stock in the near future.
Additional Assay Results for Barlevskoye Mine
We foresee to have completed the Phase 2 drill program for Barlevskoye mine and expect to announce superior assay results shortly.
About Supatcha Resources Inc. (OTCBB:SAEIE.ob - News)
Supatcha Resources Inc. is a gold exploration company focused on acquiring and developing mineral properties in Ukraine. Supatcha is in the final stages of acquiring two additional gold mining projects, with world-class potential, in southwestern Ukraine.
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