DNA Precious Metals Inc. Announces it has Signed a Binding Agreement to Acquire Additional Mining Interest on the Montauban Mine Property
MONTREAL, October 22, 2013 /PRNewswire/ --
DNA Precious Metals Inc. ("DNA" or "the Company") (OCTQB: DNAP), is pleased to announce that it has signed a Binding Agreement with Excel Gold Mining Inc. for an undivided one hundred (100%) interest for all of their Montauban Mine Property assets located in Notre-Dame-de-Montauban, Quebec, Canada. The 5 contiguous claims ("Mineral Claims") consist of a mining lease and a mining concession totalizing an approximate surface of 76.84 hectares. These 5 mining claims are contingent to DNA's mining claims covering an area of approximately 340 hectares on the Montauban Mine Property, and are described as Les Mines de Montauban in the Property Map on the DNA Website http://www.dnapreciousmetals.com/maps.
DNA Precious Metals Inc. has fulfilled its contractual obligations under the Agreement and paid "In Trust" for the benefit of the Vendor funds and common shares of DNA Precious Metals Inc. representing a value of over $600,000 as of the date of this Release.
The acquired mining assets, described as Les Mines de Montauban on the Property Map http://www.dnapreciousmetals.com/maps , are fundamental to DNA's currently 100% claimed Montauban Mine Property mining claims. This acquisition solidifies DNA Precious Metal's Montauban Mine Property bundle, while expanding exploration and mining potential and enhancing access. More importantly, the added value of this acquisition resides in the granted mining lease and underground rights that accompany the newly acquired mining claims.
Reported Historical Past production from Les Mines de Montauban includes 132,000 oz gold, and 4,300,000 oz silver as well as 77,000 tons zinc, 24,000 tons lead.
"This acquisition is in line with the Company's objective of low capital cost production targets, while positioning the Company for continued growth with the Montauban Mine Project. Procuring these claims will significantly increase the Company's long term exploration program, enhancing the investment in these prospective claims" said Ronald Mann, President and CEO of DNA Precious Metals Inc.
Newly Acquired Mineral Claims
The newly acquired Minerals Claims include three shafts, extensive underground workings and includes the "Golden Goose" north strike area of the Montauban mineralized near surface ore belt, one of the many significant highlights of the acquired property. This mineralized ore block, with Historical Resources non 43-101, Mirabel Resources, consists of approximately 693, 590 metric tons grading an average 3.44 g/t Au and 14.32 g/t Ag. http://www.dnapreciousmetals.com/maps
The vendor intercepted significant results in their 2009 drill campaign on the acquired property. Selected assay highlights of gold/silver intercepts, historical drilling, non 43-101, non Canadian drilling reporting standard compliant, on the newly acquired Montauban Mine Property include an intercept over 9 metres at a depth of less than 20 metres of 4.10 g/t Au and 19.49 g/t Ag. See table below.
MONTAUBAN 2009 DRILLING RESULTS DDH From To Interval Au Ag No (m) (m) (m) (g/t) (g/t) EM-09-01 13.00 17.30 4.30 4.82 19.03 EM-09-15 0.50 5.00 4.50 2.15 15.11 EM-09-17 1.50 5.00 3.50 3.43 17.34 EM-09-21 1.50 4.50 3.00 8.96 18.94 EM-09-23 1.50 10.00 8.50 2.54 19.69 EM-09-26 1.50 6.00 5.00 1.41 10.62 EM-09-27 1.50 10.00 8.50 7.34 17.02 EM-09-28 3.00 5.58 2.58 14.32 25.84 EM-09-29 3.15 9.00 5.85 2.92 11.69 EM-09-35 7.40 12.50 5.10 6.77 24.29 EM-09-38 5.50 13.50 8.00 3.13 13.70 including 12.50 13.50 1.00 10.90 46.70 EM-09-40 10.50 19.50 9.00 4.10 16.49 including 18.50 19.50 1.00 20.80 33.70 EM-09-41 12.50 19.50 7.00 2.07 6.43 EM-09-45 8.00 10.00 2.00 7.16 0.90 EM-09-47 3.50 5.50 2.00 3.24 6.85 EM-09-56 15.00 22.00 7.00 4.49 12.37 EM-0958 17.00 25.00 8.00 3.78 28.26 including 17.00 18.00 1.00 11.75 65.30
About DNA Precious Metals, Inc.
DNA Precious Metals, Inc. is focused on near term production of the Montauban tailings mine in the Province of Quebec, Canada with an aggressive search for economic production assets. The company trades on the OTCQB market in the United States under the stock symbol DNAP. For more information, please go to http://www.DNAPreciousMetals.com.
On behalf of the Board
Ronald K. Mann, CEO
Forward Looking Disclaimer
This release contains forward-looking statements that involve risks and uncertainties. Readers are referred to the Securities and Exchange Commission filings filed by the Company on EDGAR at http://www.sec.gov/edgar.shtml, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to publicly release any revisions to any forward-looking statements. The information contained in this press release should not be construed as any indication of the Company's future stock price, its revenues or results of operations.
Ronald Mann, CEO
DNA Precious Metals Inc.
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Stuart T. Smith, CEO
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SOURCE DNA Precious Metals Inc.