Owner
Post by Franko10 ™ on Sept 11, 2004 10:18:05 GMT -5
EL CAPITAN EXPLORING MINING AND MARKETING OF IRON ORE FROM THE ITS EL CAPITAN MINE
Englewood, CO – El Capitan Precious Metals, Inc. (OTC/BB: ECPN) announced today that it is exploring the possible mining and marketing of iron ore from its El Capitan mine. The Company has engaged an independent consultant with extensive experience in marketing mining properties to assist in this effort and has met with several companies to discuss possible initiatives. The Company currently has no contracts or other agreements with respect to mining or marketing the iron ore.
“There is significant interest in the iron ore market of late with prices reaching levels that make it feasible to market the ore,” stated El Capitan President, Chuck Mottley. “We have received indications of interest from an offshore company for delivery of iron ore FOB California. In order to provide the ore, we must have the resources necessary to mine the ore, separate it, and ship it via rail to port. I believe we can find a partner, be it a contract miner, equipment supplier, or finance company, to assist us in this regard if we are able to secure a contract for the purchase of the ore,” continued Mr. Mottley.
“We are working very hard, with the limited resources we currently have at our disposal, to leverage this asset and fully believe we can succeed in making the El Capitan mine a success for our Company,” concluded Mr. Mottley.
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 a joint venture and 20% ownership of 13 mining claims and other assets known as the C.O.D. Property located near Kingman,
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 Securities and Exchange Commission filings; economic downturns affecting the operations of El Capitan Precious Metals; the inability to initiate or complete a possible sale of the El Capitan or COD properties or any other restructuring, offering, acquisition, disposition, joint venture or similar transaction; adverse financial performance by El Capitan Precious Metals; failure to obtain or maintain regulatory approval for products and services offered by El Capitan Precious Metals; 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 or COD properties; 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 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) announced today that it is exploring the possible mining and marketing of iron ore from its El Capitan mine. The Company has engaged an independent consultant with extensive experience in marketing mining properties to assist in this effort and has met with several companies to discuss possible initiatives. The Company currently has no contracts or other agreements with respect to mining or marketing the iron ore.
“There is significant interest in the iron ore market of late with prices reaching levels that make it feasible to market the ore,” stated El Capitan President, Chuck Mottley. “We have received indications of interest from an offshore company for delivery of iron ore FOB California. In order to provide the ore, we must have the resources necessary to mine the ore, separate it, and ship it via rail to port. I believe we can find a partner, be it a contract miner, equipment supplier, or finance company, to assist us in this regard if we are able to secure a contract for the purchase of the ore,” continued Mr. Mottley.
“We are working very hard, with the limited resources we currently have at our disposal, to leverage this asset and fully believe we can succeed in making the El Capitan mine a success for our Company,” concluded Mr. Mottley.
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 a joint venture and 20% ownership of 13 mining claims and other assets known as the C.O.D. Property located near Kingman,
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 Securities and Exchange Commission filings; economic downturns affecting the operations of El Capitan Precious Metals; the inability to initiate or complete a possible sale of the El Capitan or COD properties or any other restructuring, offering, acquisition, disposition, joint venture or similar transaction; adverse financial performance by El Capitan Precious Metals; failure to obtain or maintain regulatory approval for products and services offered by El Capitan Precious Metals; 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 or COD properties; 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 disclaims any intent or obligation to update these forward-looking statements.
Jamie Phillips
Director of Investor Relations
jpelcapitan@cox.net
480-229-1356
