HENDERSON, Nev., Feb. 25, 2013 /PRNewswire/ -- Trulan Resources Inc. (OTCPK:TLAN) (the "Company" or "Trulan") is pleased to report that it has received the necessary due diligence information relating to the intended acquisition of Iron, Gold, Platinum and high value industrial mineral deposits (the "Project" or "IGP") in Chile, South America.
The Company has entered into a Letter Of Intent and continues to evaluate the data provided by the Vendor of the IGP Project. The LOI was based on positive confirmation of certain preliminary reports given to Trulan which outlined the discovery of a number of economically viable mineral deposits.
The data package includes several reports on the mineralization encountered during extensive exploration programs which led to the discovery of numerous deposits. Further comprehensive work went into the testing and delineation of the ore bodies which resulted in a sizable "Indicated Resource". Metallurgical reports outline significant grades of Fe (iron), Au (gold), Pt (platinum) and a variety of high value industrial minerals. An economic assessment of the Indicated mineralization known to date confirms that the IGP is financially viable at current metal prices.
Capital expenditures relating to mine infrastructure and ongoing extraction operations were factored into the financial model and were determined to represent a very small percentage of the known resource. Calculations were based solely on the existing "Indicated Resource" which remains open in all directions and at depth. Following the intended acquisition of the Project, Trulan expects to begin work immediately to determine the full extent of all of the ore bodies and take the resource calculation from "indicated" to "Proven Reserve".
According to Trulan CEO Robert Rosner, "We anticipate an expedited due diligence review of the IGP Project and look forward to entering into a definitive acquisition agreement within a very short time frame. This is an exciting project and we would like to begin the next stage of development as soon as possible".
Trulan Resource's Mission is the exploration and development of mining properties whose economic potential is considered to be extensive, while requiring minimal infrastructure and operational costs, that can be advanced in an environmentally responsible manner.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. For more information please contact Corporate Relations at 702-430-4690 or email@example.com
President & CEO
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS," AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL AND QUARTERLY REPORTS FILED AND PUBLISHED ON WWW.OTCMARKETS.COM, RESPECTIVELY, AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S EXPLORATION EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES 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 THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED AND PUBLISHED FROM TIME-TO-TIME ON WWW.OTCMARKETS.COMTHIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALLTHERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
SOURCE Trulan Resources Inc.