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Post by Franko10 ™ on Oct 19, 2004 8:00:43 GMT -5
El Capitan Signs Agreement for Option to Acquire Nevada Mine
10/19/2004 9:04:23 AM
PHOENIX, AZ, Oct. 19, 2004 (MARKET WIRE via COMTEX) -- El Capitan Precious Metals, Inc. (ECPN) announced today that it has entered into an agreement with Little Valley Company to option its iron ore mine located near Lovelock, Nevada.
The option is for six months and will allow the Company time to evaluate the mine, which has approximately three and a half million tons of iron ore already mined.
Chuck Mottley, ECPN President and CEO, said, "This mine would add to our existing iron ore mines including our 40% owned El Capitan mine in New Mexico and our 100% owned Rainbow Valley mine in Arizona. Along with our precious metals mines including El Capitan and our 20% owned COD Mine in Arizona for which we have a 50/50 joint venture partner for its operations, we intend to evaluate as many iron ore properties as possible west of the Mississippi with a view toward potential acquisitions."
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, 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.
For Further Information, Contact:
Chuck Mottley
President
(480) 948-0724
SOURCE: El Capitan Precious Metals
Copyright 2004 Market Wire, All rights reserved.
10/19/2004 9:04:23 AM
PHOENIX, AZ, Oct. 19, 2004 (MARKET WIRE via COMTEX) -- El Capitan Precious Metals, Inc. (ECPN) announced today that it has entered into an agreement with Little Valley Company to option its iron ore mine located near Lovelock, Nevada.
The option is for six months and will allow the Company time to evaluate the mine, which has approximately three and a half million tons of iron ore already mined.
Chuck Mottley, ECPN President and CEO, said, "This mine would add to our existing iron ore mines including our 40% owned El Capitan mine in New Mexico and our 100% owned Rainbow Valley mine in Arizona. Along with our precious metals mines including El Capitan and our 20% owned COD Mine in Arizona for which we have a 50/50 joint venture partner for its operations, we intend to evaluate as many iron ore properties as possible west of the Mississippi with a view toward potential acquisitions."
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, 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.
For Further Information, Contact:
Chuck Mottley
President
(480) 948-0724
SOURCE: El Capitan Precious Metals
Copyright 2004 Market Wire, All rights reserved.
