Tresoro Mining Corp. Moves Forward With Plans to Develop the Guayabales Gold Project
VANCOUVER, British Columbia, July 23, 2012 /PRNewswire/ -- Tresoro Mining Corp. (the "Company") (TSOR-OTCQB, AN4-Frankfurt) announces that Comunidad Minera Guayabales ("Comunidad"), the underlying property owner of the Guayabales Gold Project in Columbia (the "Guayabales Property"), has acknowledged to the Company that Comunidad agrees with the Company that Mercer Two Panama Corp Secursal Colombia, the Colombian branch of a subsidiary of the Company, is the legal holder of all option rights pursuant to the Option Agreement dated March 4, 2010 (the "Option Agreement"), as entered into by and between Mercer Gold Corp. ("Mercer BC") and Comunidad with respect to the Guayabales Property. More specifically, Comunidad no longer considers that Mercer BC has any further rights pursuant to the Option Agreement.
During the week of June 25 to 29, Mr. Daniel C. Leroux, (B.Sc., P.Geo. (ON, QC, SASK)
Vice President and Senior Geologist A.C.A. Howe International Limited) completed an onsite inspection and review of the Guayabales Property and storage facilities located in Colombia, and has advised that he will be issuing a new 43-101 technical report with respect to the Guayabales Property within 2 weeks.
The Company plans to proceed forthwith with the development of the Guayabales Property.
Gary Powers, President of Tresoro Mining Corp., says "The Company will develop a work plan based upon defined areas of interest as a result of the analysis of the property and the data available since April 2011. Tresoro has continued to maintain a close and open relationship with the Comunidad Minera Guayabales, the artisanal owners of the property, and will work closely with them in planning and executing the steps going forward."
About Tresoro Mining Corp.
Tresoro Mining Corp. is a mineral exploration company. The Company's primary project is to develop the Guayabales Gold Project located in the Marmato Gold District, in Caldas, Colombia. The Project is a bulk-tonnage, gold-silver target that is amenable to open pit mining as well as higher-grade gold-silver mineralization that can be drawn out with selective underground mining techniques. Historically Colombia has been one of the largest gold producers in the world and the Colombian mining industry remains one of the most dynamic and promising sectors of the Colombian economy.
Symbol: OTCQB - TSOR; Frankfurt AN4, WKN NO. A0MUN4.
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SOURCE Tresoro Mining Corp.