LAS VEGAS, Jan. 28, 2013 /PRNewswire/ -- Colorado Gold Mines, Inc. (OTCQB: CGLD) a development stage company engaged in the acquisition, exploration and development of mining properties announced today that it has signed an agreement granting the Company an option to purchase the Keeno Strike Gold and Silver Property. The property consists of 12 unpatented 20-acre lode-mining claims and one 5-acre mill site claim located in Clark County, Nevada. The claims are located near the historical Monte Cristo Mine and the Keeno-Mint workings near Porter Wash in Clark County, Nevada.
The Keeno Strike Property is located approximately 30 miles southwest of Las Vegas in the historical mining district known as the Goodsprings District that contains deposits of gold, silver, copper, cobalt nickel, zinc and lead. One of the many mines in this district that historically produced ore is the Yellow Pine mine about seven miles northwest of the Keeno Strike Property, which contained over 1.4 million ounces of silver.
"We are excited to have the Keeno Strike Property as Colorado Gold Mines' first acquisition. Based on the regional geology and initial reconnaissance reports we have reviewed, we believe this property has the potential to justify our next phase of exploration with a large estimated value of precious metals," said William Lundy, CEO of Colorado Gold Mines, Inc. " We will be sharing the results of our valuation report with our shareholders as soon as it is completed," added Lundy.
ABOUT COLORADO GOLD MINES, INC.
Colorado Gold Mines, Inc. (OTCQB - CGLD) is a development stage company engaged in the acquisition, exploration, development, mining and processing of precious metal properties. The Company's operating interest includes the development stage Keeno Strike Silver and Gold Property located in the southern end of the Spring Mountains in the Yellow Pine Mining District of Southern Nevada. The property consists of a continuous block of 12 unpatented, 20-acre lode-mining claims for a total of 240 acres.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Colorado Gold Mines, Inc. (CGLD)encourages those interested in our Company to rely only on information included in our filings with the United States Securities and Exchange Commission which can be found at www.sec.gov. Statements released by Colorado Gold Mines, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
SOURCE Colorado Gold Mines, Inc.