Foy-Johnston Announces Concession on Kadei river in Cameroon Acquisition
LAS VEGAS, March 19, 2013 /PRNewswire/ -- Foy-Johnston (OTC Pink: FOYJ), has announced it has reached an agreement with local land owners, village chief, elders and the Paramount Chief and Cameroon Ministry of Mines to acquire a further 3 concessions on the Kadei River in Cameroon. Surface rents have been paid and concession demarcation and licensing is underway.
The concessions selected are to the East near the border of Central African Republic region, which are considered to be the major host body for gold in the region. Historical records as stated by village elders indicate that while exploration has occurred in the past in this area, very little river dredging or any industrial mining has never taken place. The company is excited about its prospects in the upcoming mining season. Further, Foy Johnston announces that water dredging sampling commenced on the Kadei concessions. Dredge sampling with a six inch dredge returned an average of 1.2 ("g/t"), the Company is optimistic with proper equipment production potentially will be quite high.
About Foy-Johnston Inc.
Foy-Johnston through its wholly owned subsidiary Cameroon Mines is involved in enhancing exploration and mining assets through diligent application of technical and commercial expertise for the benefit of all stakeholders of Foy-Johnston in an efficient and environmentally responsible manner. Cameroon Mines is a mining explorer and producer committed to developing strategic mining exploration and project opportunities in Gold, Precious gems, Rare Earth Metals and Platinum Group Metals. The Company has assembled an experienced group of individuals with broad local and international industry knowledge. Where it will assist to build shareholder value and help fast-track the development of its accumulated assets Cameroon Mines will also secure the participation and support of key strategic partners globally, who can provide tangible benefits towards achieving the Company's goals. The company has already acquired a portfolio of Gold and Diamond exploration tenements in key mineral regions of Cameroon and Central African Republic. Our website is www.cammines.com.
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
SOURCE Foy-Johnston Inc.