SHERMAN OAKS, Calif., Dec. 22, 2011 /PRNewswire/ -- ABOT Mining (Pink Sheets: ABOT.pk) through arrangement with its mining and joint venture partner Rising Star S.A. de C.V., a Mexican Corporation ("Rising Star") is pleased to announce that it was given notice by the Mexican Government that the mineral property adjacent to and contiguous with the Aztlan 8B Project has been allocated to ABOT Mining/Rising Star joint venture.
The details of the subject property shall be released once the final documentation is completed after the current holiday season when Government offices re-open. As per preliminary study, the subject property is consistent in testing and surface sampling to the Aztlan 8B. Furthermore, there has been some history of mining in the area thereby prompting ABOT Mining to expand its interest through this acquisition.
"Our experience in Aztlan 8B area has given us the opportunity to add this property to our portfolio. This acquisition is consistent with our aggressive growth strategy as we are quickly expanding our portfolio with the acreage that is consistent with the geology favorable to exploration and development," said Morris Rafi, President of ABOT Mining.
About the Company
ABOT is a US based mining company engaged in discovering, acquiring, developing, producing, and marketing precious and semi-precious metal properties and is currently headquartered in Sherman Oaks, California. ABOT plans to create long term shareholder value by implementing an aggressive exploration program, making new precious metals discoveries and developing mining properties with long-life and low cost operation. ABOT's strategy is based on a positive outlook in the precious and semi-precious sector and finding synergies with mineral owners to deliver consistent returns to its shareholders.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Morris Rafi, President
ABOT Mining Co.
13920 Moorpark Street, Suite 201,
Sherman Oaks, CA 91423
SOURCE ABOT Mining