Post by Zoinkers on Jul 13, 2006 13:48:53 GMT -5
Press Release Source: El Capitan Precious Metals Inc.
ECPN Enters into Discussions to Acquire 100% Ownership of El Capitan Property
Thursday July 13, 7:10 am ET
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--July 13, 2006--El Capitan Precious Metals Inc. (OTCBB:ECPN - News) reports: The company has entered into discussions to acquire the remaining 60% of the El Capitan property from Gold and Minerals Inc. for newly issued shares of common stock of the company.
Although the discussions are in a preliminary stage and material terms have not been agreed upon, company President and CEO Chuck Mottley stated: "We believe that the El Capitan property will be more attractive to potential buyers or joint venture partners if ownership is under one entity and the increase in our market capitalization may create more interest to investors as well as assist with our application to the American Stock Exchange. Although there can be no assurances at this stage, we are hopeful the discussions will progress to a favorable conclusion."
El Capitan Precious Metals Inc. is an exploration stage company that owns a 40% interest in the El Capitan property located near Capitan, N.M., 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, Ariz. In addition, the company owns contractual rights to the Rainbow Valley property consisting of 1,660 acres and 100% of the Weaver mine, both near Phoenix.
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, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and the possibility that future exploration, development or mining results will not be consistent with past results and/or the company's expectations, discrepancies between different types of testing methods, some or all of which may not be industry standard, 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; 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; the company's ability to enter into and meet all the conditions to close contracts to sell its mining properties that it chooses to list for sale, 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.
Contact:
El Capitan Precious Metals Inc., Scottsdale
James G. Ricketts or Ron Perkins, 480-607-7093
www.elcapitanpmi.com
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Source: El Capitan Precious Metals Inc.
ECPN Enters into Discussions to Acquire 100% Ownership of El Capitan Property
Thursday July 13, 7:10 am ET
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--July 13, 2006--El Capitan Precious Metals Inc. (OTCBB:ECPN - News) reports: The company has entered into discussions to acquire the remaining 60% of the El Capitan property from Gold and Minerals Inc. for newly issued shares of common stock of the company.
Although the discussions are in a preliminary stage and material terms have not been agreed upon, company President and CEO Chuck Mottley stated: "We believe that the El Capitan property will be more attractive to potential buyers or joint venture partners if ownership is under one entity and the increase in our market capitalization may create more interest to investors as well as assist with our application to the American Stock Exchange. Although there can be no assurances at this stage, we are hopeful the discussions will progress to a favorable conclusion."
El Capitan Precious Metals Inc. is an exploration stage company that owns a 40% interest in the El Capitan property located near Capitan, N.M., 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, Ariz. In addition, the company owns contractual rights to the Rainbow Valley property consisting of 1,660 acres and 100% of the Weaver mine, both near Phoenix.
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, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and the possibility that future exploration, development or mining results will not be consistent with past results and/or the company's expectations, discrepancies between different types of testing methods, some or all of which may not be industry standard, 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; 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; the company's ability to enter into and meet all the conditions to close contracts to sell its mining properties that it chooses to list for sale, 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.
Contact:
El Capitan Precious Metals Inc., Scottsdale
James G. Ricketts or Ron Perkins, 480-607-7093
www.elcapitanpmi.com
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Source: El Capitan Precious Metals Inc.