LAS VEGAS, April 25, 2012 /PRNewswire/ -- New America Energy Corp. (OTCBB: NECA) provides update on new mining initiatives in Africa and its current lithium project in Nevada.
"As previously released, the signing of an agreement for a financing arrangement of up to US$3,000,000 with Fairhills Capital Offshore Ltd., will provide the Company with the capital to execute its exploration program on its Clayton Ridge lithium project near Silver Peak, Nevada. Plans are being finalized for the next stage of the exploration program. These plans include extending the gravity survey to build the framework for the next stage of exploration to the north and northwest of the first survey and to test the gravity defined basin for conductors with a controlled source audio magnetotellurics/magentotellurics (CSAMT/MT) survey to further map any geologic structures that may be significant to the occurrence of Lithium brine.
CEO, Rick Walchuk states, "Our primary focus for the Company is to further our work on our highly prospective Lithium property in Nevada. The Company is also eager to gather a wide portfolio of claims over the next 12-18 months. Once acquired, we plan to prove out reserves for development or make them attractive for purchase by larger companies in the mining industry; giving us both active revenue streams and turnkey profits for the long-term." Mr. Walchuk added "Our new director Mr. Alexandros Tsingos has made significant progress sourcing potential mineral exploration/exploitation opportunities in Africa. I will be joining Alexander in Tanzania in the next few weeks to follow up on these with him."
New America Energy Corp. Director and Corporate secretary Mr. Alexandros Tsingo stated "I am bullish on the exploration potential of the African resource market. Africa is now likely to be among the most highly prospective exploration regions in the world."
New America Energy Corp. is a Nevada-based mineral exploration company engaged in the acquisition and exploration of mineral properties in the continental United States. Currently the company controls approximately 5600 acres in Nevada.
FORWARD LOOKING STATEMENT
This announcement is not an offer to sell any New American Energy Corp. ("NECA") shares or related securities. Offers for any given security are made only through applicable offering circulars and related documents filed with the SEC pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of NECA may contain "forward looking statements." Such forward looking statements are identified by words such as "intends," "anticipates," "believes," "expects," and "hopes" and includes, without limitation, statements regarding the Company's ability to prove up reserves on its current properties, acquire new properties and make such properties attractive for acquisition by larger companies. Forward-looking statements express our expectations or predictions of future events or results. They are not guarantees and are subject to many risks and uncertainties. There are a number of factors beyond our control that could cause actual events or results to be significantly different from those described in the forward-looking statements. Any or all of our forward-looking statements in this report or in any other public statements we make may turn out to be wrong. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.
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SOURCE New America Energy Corp.