DALLAS, Dec. 13, 2012 /PRNewswire/ -- Southridge Enterprises Inc. (PINKSHEETS: SRGE) ("Southridge" or the "Company") is please to announce that it has signed a Confidentiality Agreement (CA) with a major NYSE listed gold mining company regarding both the Cinco Minas and Gran Cabrera properties. Due to terms contained within the CA, the Company is unable to announce either details of the CA or the parties involved.
"Obviously we are very excited to be involved with a global mining leader, this is a new phase of development for Southridge, and it is a confirmation of our efforts over the past several years. Our goal from beginning for both Cinco Minas and Gran Cabrera has been to secure a world-class partner that is capable of moving these projects forward, and today is a major step that direction," said Michael Davies, President & CEO of Southridge. "While a CA is early in the process, I feel it is important to note that Southridge who was sought out by multiple offers and that both Cinco Minas and Gran Cabrera are the subject of intense interest. We are confident that these two projects warrant further development and we will be successful in executing our goal of building a world-class gold and silver mining facility at Cinco."
The Company stated, it felt a duty to report the latest development to shareholders due to previous news announcements. But it is important to note that due to legal obligations and the sensitive nature of this process; Southridge will issue no further comments regarding the Agreement until such time it is warranted. "This is a crucial point in the development of Southridge and it is vital we do not jeopardize the future of the company. We need to be focused on executing our long-term strategy by continuing to develop our mining assets in the Sierra Madre Gold Belt," said Davies.
For further information on the Company's Gold and Silver projects, visit our website: http://www.southridgeminerals.com.
Southridge Investors can access the following Southridge Minerals social media channels:
YouTube Cinco Minas Mexico Project:
About Southridge Minerals, Inc. (SRGE)
Southridge Minerals, Inc. is a U.S.-based mineral exploration company dedicated to acquiring and developing mineral resources in geologically permissible and politically stable areas of the world. The Company seeks out early stage opportunities with good mineralization indicators that exhibit significant blue-sky potential. Southridge pursues and advances these projects that are or will be of interest to mid-size and major producers. By forming alliances on individual projects, the Company expects to develop its interests in mines operated by its partners, allowing it to continue to build value through continued exploration. Southridge is currently focused on projects in Mexico.
What sets Southridge apart is its vast experience in Mexico and the knowledge of the geological conditions and formations pertaining to known large gold deposits that have received very little attention to date. This comparative advantage, combined with a specific geographical and mineral focus, will allow for more efficient asset and income growth in the future for the benefit of shareholders' investments.
Although the Company believes that the forward-looking statement of beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's published current and periodic reports.
SOURCE Southridge Enterprises Inc.