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Post by Franko10 ™ on Sept 11, 2004 10:13:52 GMT -5
El Capitan Precious Metals Signs Definitive Agreement to Acquire Arizona Mining Property
Wednesday August 27, 7:01 am ET
ENGLEWOOD, Colo.--(BUSINESS WIRE)--Aug. 27, 2003--El Capitan Precious Metals, Inc. (OTCBB:ECPN - News) announced today that it has signed a definitive agreement with Gold and Minerals Co., Inc. ("Gold and Minerals") to acquire the mining claims, buildings and personal property known as the C.O.D. Property located in Mohave County, just north of Kingman, Arizona.
Gold and Minerals is El Capitan's majority stockholder. Gold and Minerals is receiving 1.2 million shares of El Capitan common stock as payment for the transaction.
The C.O.D. Property consists of 13 mining claims leased from the United States Bureau of Land Management on 268 acres. Originally located in 1878, this mine has been a working mine at various periods in its history, most recently in the mid-1980s, through two underground shafts leading to seven levels. There are no current mining operations on the site.
El Capitan Precious Metals, Inc. is a nominally capitalized development stage company that owns a 40% interest in the El Capitan mine located near Capitan, New Mexico.
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. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in El Capitan Precious Metals/DML Services' Securities and Exchange Commission filings; economic downturns affecting the operations of El Capitan Precious Metals/DML Services; the inability to initiate or complete any contemplated restructuring, offering, acquisition, disposition or other transaction including the acquisition of the COD mine and any proposed sale of the El Capitan property; adverse financial performance by El Capitan Precious Metals/DML Services; failure to obtain or maintain regulatory approval for products and services offered by El Capitan Precious Metals/DML Services; the accuracy of geological and geophysical results including drilling and assay reports; the inability of the Company to develop and/or mine the El Capitan property; the inability to close the acquisition of the C.O.D. Property; and the unavailability of financing to complete management's plans and objectives. The forward-looking statements contained in this press release speak only as of the date hereof and El Capitan Precious Metals/DML Services disclaims any intent or obligation to update these forward-looking statements.
CONTACT:
Jamie Phillips
Director of Investor Relations
jpelcapitan@cox.net
480-229-1356
Wednesday August 27, 7:01 am ET
ENGLEWOOD, Colo.--(BUSINESS WIRE)--Aug. 27, 2003--El Capitan Precious Metals, Inc. (OTCBB:ECPN - News) announced today that it has signed a definitive agreement with Gold and Minerals Co., Inc. ("Gold and Minerals") to acquire the mining claims, buildings and personal property known as the C.O.D. Property located in Mohave County, just north of Kingman, Arizona.
Gold and Minerals is El Capitan's majority stockholder. Gold and Minerals is receiving 1.2 million shares of El Capitan common stock as payment for the transaction.
The C.O.D. Property consists of 13 mining claims leased from the United States Bureau of Land Management on 268 acres. Originally located in 1878, this mine has been a working mine at various periods in its history, most recently in the mid-1980s, through two underground shafts leading to seven levels. There are no current mining operations on the site.
El Capitan Precious Metals, Inc. is a nominally capitalized development stage company that owns a 40% interest in the El Capitan mine located near Capitan, New Mexico.
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. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in El Capitan Precious Metals/DML Services' Securities and Exchange Commission filings; economic downturns affecting the operations of El Capitan Precious Metals/DML Services; the inability to initiate or complete any contemplated restructuring, offering, acquisition, disposition or other transaction including the acquisition of the COD mine and any proposed sale of the El Capitan property; adverse financial performance by El Capitan Precious Metals/DML Services; failure to obtain or maintain regulatory approval for products and services offered by El Capitan Precious Metals/DML Services; the accuracy of geological and geophysical results including drilling and assay reports; the inability of the Company to develop and/or mine the El Capitan property; the inability to close the acquisition of the C.O.D. Property; and the unavailability of financing to complete management's plans and objectives. The forward-looking statements contained in this press release speak only as of the date hereof and El Capitan Precious Metals/DML Services disclaims any intent or obligation to update these forward-looking statements.
CONTACT:
Jamie Phillips
Director of Investor Relations
jpelcapitan@cox.net
480-229-1356
