LONDON, March 28, 2011 /PRNewswire/ -- Tuffnell Ltd. (Tuffnell or "the Company") (OTC Bulletin Board :TUFF ) is pleased to announce the payment of a 3 for 1 common stock dividend to shareholders of record of March 24, 2011 payable on March 25, 2011 with an ex dividend date of March 28, 2011. The Dividend shares will be mailed to shareholders of record. The Company had 59,876,667 common shares issued and outstanding prior to the dividend and as a result of the common stock dividend; the Company will have 239,506,668 common shares issued and outstanding following the dividend. Management issued the dividend to, among other things, increase liquidity which the company believes will make financing initiatives more advantageous as it proceeds with the planning for its phase 3 drill program on its Little Butte Gold/Copper Project.
The company is currently in the process of finalizing and interpreting its phase 2 Gold/Copper program and final results are expected to be released shortly. Indicators to date are encouraging and the company is excited as it moves ahead with its plans to develop and prove up what it believes, based on historical findings and results to date, is a significant asset.
About The Company
Tuffnell Ltd. (OTC BB: TUFF) is a mineral exploration company focused on maximizing returns for its shareholders by exploring and developing low-cost gold assets in proven mining districts. With a focus primarily on the State of Arizona, Tuffnell Exploration has put together a team of highly qualified, strongly motivated individuals with the experience required to advance our corporate vision.
Based on geological potential, infrastructure proximity, and previously undertaken exploration, Tuffnell Ltd. selects properties of merit so as to provide its shareholders with the highest probability of success. The company's main property, known as Little Butte, is located in La Paz county Arizona and has previous exploration history indicating that resources are present and the prospect for economic recovery of gold support management's decision to proceed with further exploration. Tuffnell holds a 100% option to 85 unpatented mining claims and 7 patented claims. Total Land holdings including patented claims total 1,840 acres or 2.88 square miles. The Little Butte Project lies in the historic Plomosa District, 20 miles north of the town of Quartzite, Arizona and approximately 150 miles southeast of Las Vegas, Nevada.
Safe Harbour Statement:
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan," or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
The forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's website at www.sec.gov.
CONTACT: Investor Relations 1-800-459-0794
SOURCE Tuffnell Ltd.