Owner
Post by Franko10 ™ on Sept 11, 2004 10:15:35 GMT -5
EL CAPITAN EXPLORING IRON ORE MARKET
Englewood, CO – El Capitan Precious Metals, Inc. (OTC/BB: ECPN) said today that in connection with its majority stockholder, Gold and Minerals Co., Inc., it intends to market iron ore from the El Capitan mine near Capitan, New Mexico. While the companies continue to pursue a sale, joint venture agreement, or similar transaction for mining precious metals at the mine, the market for iron ore both domestically and abroad could represent a significant opportunity for cash flow from the property.
“We welcome this new business opportunity, which if it materializes could mean a significant income stream for the Company,” stated El Capitan President, Chuck Mottley. “Based on our past geological evaluations, we estimate there are approximately 25 million tons of proven and inferred iron ore on the property. While we have no agreements to sell any iron ore at this time, we intend to aggressively pursue all opportunities and are hopeful we can capitalize on this new development.”<br>
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 as well as 13 mining claims and other assets known as the C.O.D. Property located near Kingman, 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. 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 a possible sale of the El Capitan property or any other restructuring, offering, acquisition, disposition or similar transaction; 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; 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.
Jamie Phillips
Director of Investor Relations
jpelcapitan@cox.net
480-229-1356
Englewood, CO – El Capitan Precious Metals, Inc. (OTC/BB: ECPN) said today that in connection with its majority stockholder, Gold and Minerals Co., Inc., it intends to market iron ore from the El Capitan mine near Capitan, New Mexico. While the companies continue to pursue a sale, joint venture agreement, or similar transaction for mining precious metals at the mine, the market for iron ore both domestically and abroad could represent a significant opportunity for cash flow from the property.
“We welcome this new business opportunity, which if it materializes could mean a significant income stream for the Company,” stated El Capitan President, Chuck Mottley. “Based on our past geological evaluations, we estimate there are approximately 25 million tons of proven and inferred iron ore on the property. While we have no agreements to sell any iron ore at this time, we intend to aggressively pursue all opportunities and are hopeful we can capitalize on this new development.”<br>
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 as well as 13 mining claims and other assets known as the C.O.D. Property located near Kingman, 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. 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 a possible sale of the El Capitan property or any other restructuring, offering, acquisition, disposition or similar transaction; 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; 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.
Jamie Phillips
Director of Investor Relations
jpelcapitan@cox.net
480-229-1356
