ABOT Mining Announces Non-Binding Letter of Intent with its Mexican Operating/JV Partner to acquire 1,000 tons of Tailings/Ore
WOODLAND HILLS, Calif., Aug. 27, 2012 /PRNewswire/ -- ABOT Mining (Pink Sheets: ABOT) is pleased to announce that it has entered into a non-binding letter of intent with Rising Star Mining ("Operating/JV Partner") that sets forth the basic terms and conditions of the proposed acquisition of the first 1,000 tons of gold and silver tailings/ore.
These tailings/ore are located within 1 to 5 miles radius of Aztlan 8B Project. Operating/JV Partner has several thousand tons of such tailings/ore for sale and processing. This acquisition is subject to, among other things, the negotiation and execution of a legally binding sales and purchase agreement (the "SPA"), approval of the assay reports by ABOT, final agreement with the mill, and approval of the board of directors of ABO.
Further details will be announced upon receipt and acceptance of assay reports by ABOT and on entering into a legally binding SPA.
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 Sherman Oaks, 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