Post by Designer on Aug 11, 2005 6:39:57 GMT -5
Letter to Shareholders from ECPN's CEO Chuck Mottley
via COMTEX
August 11, 2005
SCOTTSDALE, Ariz., Aug 11, 2005 (BUSINESS WIRE) --
El Capitan Precious Metals, Inc. (OTCBB:ECPN) submits a letter to the shareholders:
Dear Shareholders:
The report from Dr. Clyde Smith, the Company's consulting geologist, is in the final stages of being drafted. We are excited and expect this report to provide significant data reflecting the estimated and precious metal values of the ore body at the El Capitan Mine. The results of this report will be released after it has been reviewed.
The second drilling project is well under way and it is expected that the results of this endeavor will indicate that the volume of ore carrying precious metals may be more extensive than originally predicted. Dr. Smith has recommended that we drill to over 300 feet (the first drilling only went to 130 feet). At the completion of this drilling Dr. Smith will provide an addendum to the original report upon completion of this project.
The Company is in the process of securing the services of a professional consultant who is well known in the mining community and has extensive experience in marketing projects such as the El Capitan Mine. He will be charged with presenting the data from Dr. Smith's report to major mining companies with the intent of procuring a sale of the mine. More details of the consultant and his immediate plan of action will be forthcoming.
In addition, the Company has procured the rights to a precious metals placer property in Arizona which has shown the potential to be economically viable. Further evaluation is being done to determine the economic viability of this property.
The Company is presently constructing a pilot plant in Colorado for the purpose of furthering the verification of the precious metal extraction process that the Company has been working on for some time. This plant will also facilitate the continued testing of various ores from the properties being evaluated by the Company.
This is an exciting time for ECPN. We have been working on the El Capitan Mine for several years and all of our hard work is finally coming to fruition. We will provide more detailed information as it becomes available.
Signed,
Chuck Mottley
El Capitan Precious Metals, Inc. is an exploration stage company that owns a 40% interest in the El Capitan mine located near Capitan, New Mexico, as well as a joint venture and 20% ownership of 13 mining claims and other assets known as the C.O.D. mine located near Kingman, Arizona. In addition, the Company owns contractual rights to the Rainbow Valley mine consisting of 1,660 acres and 100% of the Weaver mine, both near Phoenix, Arizona.
The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the results of metallurgical testing, the ability to mine precious and other minerals on a cost effective basis, the company's ability to successfully complete contracts for the sale of its iron ore and other products; fluctuations in world market prices for the Company's products; competition from iron ore producers worldwide, which producers have greater resources and more established operations than those of the company; the company's ability to arrange transportation from its mining properties to ocean ports on satisfactory terms; the Company's ability to obtain or maintain regulatory approvals; the company's ability to obtain financing for the commencement of mining activities on satisfactory terms; the Company's ability to obtain necessary financing; and other risks and uncertainties described in the Company's filings from time to time with the Securities and Exchange Commission. The Company disclaims any obligation to update its forward-looking statements.
SOURCE: El Capitan Precious Metals, Inc.
El Capitan Precious Metals, Inc. Ron Perkins, 480-607-7093 www.elcapitanpmi.com
Copyright Business Wire 2005
via COMTEX
August 11, 2005
SCOTTSDALE, Ariz., Aug 11, 2005 (BUSINESS WIRE) --
El Capitan Precious Metals, Inc. (OTCBB:ECPN) submits a letter to the shareholders:
Dear Shareholders:
The report from Dr. Clyde Smith, the Company's consulting geologist, is in the final stages of being drafted. We are excited and expect this report to provide significant data reflecting the estimated and precious metal values of the ore body at the El Capitan Mine. The results of this report will be released after it has been reviewed.
The second drilling project is well under way and it is expected that the results of this endeavor will indicate that the volume of ore carrying precious metals may be more extensive than originally predicted. Dr. Smith has recommended that we drill to over 300 feet (the first drilling only went to 130 feet). At the completion of this drilling Dr. Smith will provide an addendum to the original report upon completion of this project.
The Company is in the process of securing the services of a professional consultant who is well known in the mining community and has extensive experience in marketing projects such as the El Capitan Mine. He will be charged with presenting the data from Dr. Smith's report to major mining companies with the intent of procuring a sale of the mine. More details of the consultant and his immediate plan of action will be forthcoming.
In addition, the Company has procured the rights to a precious metals placer property in Arizona which has shown the potential to be economically viable. Further evaluation is being done to determine the economic viability of this property.
The Company is presently constructing a pilot plant in Colorado for the purpose of furthering the verification of the precious metal extraction process that the Company has been working on for some time. This plant will also facilitate the continued testing of various ores from the properties being evaluated by the Company.
This is an exciting time for ECPN. We have been working on the El Capitan Mine for several years and all of our hard work is finally coming to fruition. We will provide more detailed information as it becomes available.
Signed,
Chuck Mottley
El Capitan Precious Metals, Inc. is an exploration stage company that owns a 40% interest in the El Capitan mine located near Capitan, New Mexico, as well as a joint venture and 20% ownership of 13 mining claims and other assets known as the C.O.D. mine located near Kingman, Arizona. In addition, the Company owns contractual rights to the Rainbow Valley mine consisting of 1,660 acres and 100% of the Weaver mine, both near Phoenix, Arizona.
The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the results of metallurgical testing, the ability to mine precious and other minerals on a cost effective basis, the company's ability to successfully complete contracts for the sale of its iron ore and other products; fluctuations in world market prices for the Company's products; competition from iron ore producers worldwide, which producers have greater resources and more established operations than those of the company; the company's ability to arrange transportation from its mining properties to ocean ports on satisfactory terms; the Company's ability to obtain or maintain regulatory approvals; the company's ability to obtain financing for the commencement of mining activities on satisfactory terms; the Company's ability to obtain necessary financing; and other risks and uncertainties described in the Company's filings from time to time with the Securities and Exchange Commission. The Company disclaims any obligation to update its forward-looking statements.
SOURCE: El Capitan Precious Metals, Inc.
El Capitan Precious Metals, Inc. Ron Perkins, 480-607-7093 www.elcapitanpmi.com
Copyright Business Wire 2005