SALT LAKE CITY, Sept. 16, 2013 /PRNewswire/ -- Inception Mining Inc. (OTC QB: IMII) ("Inception" or the "Company") announced today that it has entered into an agreement in principal (the "Agreement") with Crawford Cattle Company ("Crawford") to acquire over 16,000 net acres of mineral rights in Humboldt and Elko Counties, Nevada, approximately 70 miles north of Winnemucca, Nevada. The acreage lies in or is adjacent to the Getchell Trend which is part of the property now under contract to be purchased. Assuming due diligence and other covenants are satisfied, the acquisition is expected to close no later than the second quarter 2014 of which there is no guarantee.
According to the Company's CEO, Michael Ahlin: "We believe the lands to be acquired are deemed highly prospective given their general location in the Getchell Trend. Specifically, we are under contract to acquire sections of lands that are adjacent to the Turquoise Ridge Property, the Pinson Mine and a lesser amount of acreage near the Midas Gold Property. The Turquoise Ridge Property is a joint holding of Barrick Gold Corporation and Newmont Mining Corporation." At this stage, the Company has not determined or committed to a plan of development and is just beginning its resource evaluation.
The Company is focused on identifying certain historical mining claims that fit strict parameters of proven recoverable grades of minerals, minimal permitting issues, deeded or protected claims, access, acquisition costs that fit our profile and potential refining needs or possible toll processing. While the potential acquisition departures from our stated objectives, the opportunity presented must be explored and evaluated as a possible addition to our portfolio of properties.
About Inception Mining Inc.
We are a mining exploration company engaged in the acquisition, exploration, and development of mineral properties, primarily for high grade gold deposits, from owned mining properties.
Our primary target properties are those that have been the subject of historical exploration and have supporting data. Most large visible surface gold mineralized prospects have been explored, mined. What remains are the smaller high-grade mines and prospects previously ignored.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements with respect to the potential mineralization and geological merits of the Company property. There can be no assurance statements will prove to be accurate and actual results and future events could differ materially from anticipated in such statements.
Inception Mining, Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events except as required by applicable securities legislation.
SOURCE Inception Mining, Inc.
5320 South, 900 E. Suite 260
Salt Lake City, Utah 84106
Michael Ahlin CEO
(801) 312-8113 Ext 102
SOURCE Inception Mining Inc.