Aurum Resource and Asset Management Announces Exploration Commencing on First Arizona Gold Project
SCOTTSDALE, Ariz., Feb. 24, 2015 /PRNewswire/ -- Aurum Resource and Asset Management Inc. (OTCPK: ARMI) ("Aurum Resource and Asset Management Inc.," "ARMI" or the "Company") ARMI today is very pleased to announce that the Company is preparing to commence an exploration program on its first project in the gold sector. This inaugural project is located in Southwest Arizona, within a prolific, historical mining district. Past production in the area has amounted to in excess of 600,000 ounces, within close proximity to the Company's claims and holdings.
Aurum has completed a surface site inspection that has confirmed the potential for the claims to host a significant resource of gold bearing, placer and alluvial gravel from surface to an unknown depth. It will be the focus of the Phase 1 exploration program to evaluate these deposits, by excavating trenches, drilling surface holes and extensive sampling of the gold bearing gravels. The Company believes the claims contain enough pay gravels to host a commercial viable gold production operation. Once the Phase 1 program has been completed, the Company intends to commission a third-party engineering report compliant with the various regulatory agencies that will calculate the contained ounces, grade and tons of gold bearing material.
Aurum will, when the first set of results have been received and evaluated by Company geologists and engineers, report to stake holders the findings. The Company is also pleased to inform the public of our new website www.armigold.com where we will post press releases and highlights of the Company.
About Aurum Resource and Asset Management Inc. (OTCPK: ARMI)
ARMI is a mining exploration and development Company whose business strategy is to identify qualified gold projects that meet its corporate mandate of being a potential low cost producer of less than $600 per ounce. The Company operates from its offices in Scottsdale, Arizona. Visit us at: www.armigold.com
There are many small deposits in the gold sector that do not meet the requirements of the large gold companies. ARMI has identified a niche market whereby small, low cost deposits can be mined profitably at less than $600 per ounce. ARMI is concentrating on gold deposits in the 500,000 to 1,000,000 ounce range that can be explored and upgraded to compliant reserve engineering status then marketed for sale or co-venture retaining value to ARMI by way of overriding royalties and retained interest in production.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, scope and type of consulting services provided by ARMI, use of proceeds, future acquisitions, success of projects, growth and strategic plans. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
Aurum Resource and Asset Management Inc.
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Shane Lowery
President, C.E.O.
Investor Relations:
+1-928-927-5062
SOURCE Aurum Resource and Asset Management Inc.
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