CHLORIDE, AZ, August 27, 2014 /PRNewswire/ - Hondo Minerals Corporation (OTC Pink: HMNC) announced that the company has entered into a lease agreement with an independent mining company for certain mining properties in Mohave County that are owned by Hondo Minerals Corporation. The lease term is for 5 years and lease payments are to equal 35% of the net smelt value of the ore sold.
About Hondo Minerals
Hondo Minerals Corporation is engaged in the acquisition of mines, mining claims and mining real estate in the United States, Canada and Mexico. Hondo owns the Tennessee and Schuylkill Mines in Chloride, Arizona. The Company also owns numerous other mining claims in the U.S. Southwest.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including the Company's beliefs about its business prospects and future results of operations. Some factors that could cause actual results to differ materially include economic and operational risks, changes in anticipated earnings, continuation of current contracts, and other factors detailed in the Company's filings with the Securities and Exchange Commission, including its most recent Forms 10-K and 10-Q. The Company forecasts provided above are dynamic and therefore refer only to this release date. The Company does not undertake to update any forecasts that it may make available to the investing public.
SOURCE Hondo Minerals Corporation