Goldrich Wins Alaska Supreme Court Chandalar Mining Claims Case

SPOKANE, Wash., Oct. 2, 2012 /PRNewswire/ -- Goldrich Mining Company (OTCBB: GRMC) ("Goldrich") is pleased to report the Alaska Supreme Court, in a unanimous decision, has ruled in favor of Goldrich in its court case against Gold Dust, Inc. and Delmer and Gail Ackels.  The Alaska Supreme Court ruling upheld all major issues in a previous ruling by the Superior Court of the State of Alaska that, amongst other things, awarded 20 mining claims to Goldrich that had been staked by Gold Dust and required Gold Dust to move off of mining claims held by Goldrich.

Bill Schara, CEO of the Company said, "We have been in court for almost five years concerning this case. It affected 20 of the 197 claims we hold at Chandalar and we were required to divert a significant amount of our time and resources to it. We are glad our mining rights have been substantiated by the final resolution of the case and we are now able to move forward unhindered."

A complete copy of the ruling by the Alaska Supreme Court can be obtained at http://courts.alaska.gov/ops/sp-6711.pdf.

For additional information regarding Goldrich Mining Company or this news release, contact Mr. William Schara by e-mail at wschara@goldrichmining.com or by telephone at (509) 768-4468.  See Goldrich's website at www.goldrichmining.com.

Goldrich Mining Company is engaged in the business of the discovery and mining of gold deposits.  This endeavor carries certain risks that are commensurate with the potential rewards of such efforts.  These risks cannot be quantified and should not be taken lightly. 

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements concern our anticipated results and developments in the Company's operations in future periods, planned exploration of its properties, plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might", "should" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation:

  • risks related to our property being in the exploration stage;
  • risks related our mineral operations being subject to government regulation;
  • risks related to our ability to obtain additional capital to develop our resources, if any;
  • risks related to mineral exploration activities;
  • risks related to the fluctuation of prices for precious and base metals, such as gold, silver and copper;
  • risks related to the competitive industry of mineral exploration;
  • risks related to our title and rights in our mineral property;
  • risks related the possible dilution of our common stock from additional financing activities; and
  • risks related to our shares of common stock.

This list is not exhaustive of the factors that may affect our forward-looking statements. Some of the important risks and uncertainties that could affect forward-looking statements are discussed in the Company's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as required by law.

SOURCE Goldrich Mining Company



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http://www.goldrichmining.com

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