VANCOUVER, June 19, 2013 /PRNewswire/ - Calico Resources Corp. (TSX-V: CKB) ("Calico" or "the Company") announces it has received funds from the June 8, 2013 warrants with 1,237,500 shares being issued, representing 94.3 percent of the warrants being exercised.
"I would like to thank all those that exercised their warrants for trusting in the Company management and the future of the Grassy Mountain Project. The continued support by our investors is important to the success of the Company and the permitting process." stated Buck Morrow, Chairman of Calico.
The Grassy Mountain gold project is located in Malheur County, Oregon approximately 70 air miles west of Boise, Idaho and 22 miles south of Vale, Oregon. The Project is currently in the permitting process for a high grade underground mining operation. The seasonal baseline data collection and water sampling program are the current focus of the permitting effort. The permitting process continues on time and on budget.
Calico commenced the consolidated state/federal production permitting application process at the beginning of 2012. On February 8, 2012, Calico filed its notice of intent with the Oregon Department of Geology and Mineral Industries. On June 12, 2012, DOGAMI confirmed in writing, the acceptance for filing of the notice of intent. Calico then prepared various study methodologies and submitted those methodologies for approval. On March 8, 2013, DOGAMI approved the baseline methodologies and related study plan of the Company. Since then the Company has been proceeding with its production permit process.
Calico fully expects that the permitting process will continue in the normal course as provided for in Division 37, and expects the State of Oregon to grant a permit for placing the high-grade underground Grassy Mountain gold project into full production.
CALICO RESOURCES CORP.
Per: Buck Morrow,
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound.
SOURCE Calico Resources Corporation