ABOT Mining Announces Acceptance of Ore Quality for acquisition of the first 500 tons of Ore
WOODLAND HILLS, Calif., Oct. 03, 2012 /PRNewswire/ -- ABOT Mining (Pink Sheets: ABOT.pk) is pleased to announce its acceptance of ore quality for the acquisition of the first 500 tons of gold and silver ore (the "Ore") from Rising Star Mining ("Operating/JV Partner").
This is the first step in formalizing the recently announced non-binding letter of intent and evaluating market value of the Ore. The Ore stockpile is located within 5 miles radius of Aztlan 8B Project and consists of up to 18,000 tons of Ore. In order to limit the production and processing risk, the Company shall not be obligated to purchase any Ore lot not having an average grade of Gold, Au < 5 g per ton and Silver, Ag < 35 g per ton.
The Company is further expected to announce important details of a formal legally binding agreement (the "Agreement") that will layout terms and conditions for respective parties and provide tentative schedule for the production and sale of gold and silver from this first run.
About the Company
ABOT is a US based mining company engaged in discovering, acquiring, developing, producing, and marketing precious and semi-precious metal properties and is currently headquartered in Woodland Hills, California. ABOT plans to create long term shareholder value by implementing an aggressive exploration program, making new precious metals discoveries and developing mining properties with long-life and low cost operation.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Imran Firoz, President
Abot Mining Co.
6303 Owensmouth Avenue | 10th Floor
Woodland Hills | CA 91367
T: +1 818.302.0100
SOURCE ABOT Mining Co.