MISSOULA, Mont., Dec. 21, 2012 /PRNewswire/ -- Grant Hartford Corporation ("the Company") a publicly-reporting gold mining company with claims located in the historical Garnet Gold Mining District, today issued a formal corporate update in the form of a letter authored by the Company's executive leadership team and posted to the Company's web site at www.granthartford.com.
In the letter, management endeavors to provide insight and perspective on the opportunities and challenges that have confronted the Company since its inception in 2007, noting:
"Over the course of the past five plus years, Grant Hartford has remained singularly focused on one underpinning goal: to create sustainable value and wealth for our shareholders through optimization of mining claims staked in multiple high-grade gold mining districts throughout Montana. In an unrelenting effort to achieve this goal we have, to date, succeeded in raising nearly $18 million to fund acquisitions and to advance development of our claims.
"More specifically, Grant Hartford now controls over 4,000 acres within the prolific gold-producing Garnet Gold Mining District. Through extensive drilling conducted in 2008, 2009 and 2010, we have estimated a 2.3 million ounce gold resource in the Garnet Gold Mining District and the area of our Nancy Hanks and Willie Mines. In 2011, we completed the mine and mill design for the Nancy Hanks project site. We constructed and/or installed 80% of all necessary surface support facilities and equipment, including a mine shop, power station, miners tag-in, security and safety building and an 80-ton per hour crushing plant. In the spring of 2012, we developed a low-cost mine plan (estimated at $332 per ounce) to extract and process our first 56,524 ton gold ore block at the Nancy Hanks Mine, grading 0.551 ounces per ton and representing proven and probable gold reserves of 31,169 ounces. At today's gold prices, the value of this initial target is approximately $52 million.
"Having positioned the Nancy Hanks Mine to open in record time, our management team has since turned its attention to formalizing the Company's capital formation strategies to finance the completion of the Mine and move into full gold production within 18 months."
To view the letter in its entirety, please go to http://granthartford.com/investor/letter-to-shareholders/.
About Grant Hartford Corporation
Grant Hartford is a publicly reporting company in the development stage with claims located in the historical Garnet Gold Mining District located 50 miles east of Missoula, Montana. The Garnet Gold Mining District produced over 500,000 ounces of gold from the mid-1800s until 1941. The total land position under the Company's control exceeds 4,000 acres within the Garnet Gold Mining District and an additional 3,580 acres, within 200 miles of the Garnet Gold Mining District, representing 19 former high-grade gold producing mines. For more information about Grant Hartford, please visit www.granthartford.com.
Statements made in this press release, which are not historical in nature, constitute forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements are based on the Company's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Risks associated with the Company's business include, but are not limited to, the risks associated with any failure by the Company to successfully raise the growth capital necessary to move its Nancy Hanks Mine into full production; achieve profitability and/or issue any future dividends to shareholders; as well as other risk factors described in the Company's periodic filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Qs. All information in this press release is as of the date of this publication and the Company undertakes no duty to update this information.
SOURCE The Grant Hartford Corporation