Post by Franko10 ™ on Jul 27, 2005 16:29:22 GMT -5
Western Sierra Mining and OreTech Inc. Propose to Develop Two Colorado Mining Properties
PHOENIX -- Western Sierra Mining (Pink Sheets: WSRM) and OreTech Inc. (Pink Sheets: ORTE) announced today that their respective boards of directors have agreed to enter into an agreement to develop the Silver Plume and Pittsburg mines located in Colorado.
Commenting on the proposed transaction, the president of Western Sierra Mining, Michael Chaffee, said, "The new alignment with OreTech will allow each of the companies to utilize their specific expertise to the maximum benefit of the other. OreTech is trying to focus on developing its propriety extraction technology and Western is expanding its mining activities in the U.S. We have started our due diligence on the property and look forward to taking a proposal back to OreTech by the end of the month.
"We also will pursue an agreement to use the OreTech extraction technology at the Colorado site in the event we can assure ourselves and OreTech that the values exist in Colorado at a commercial level."
WSRM is an international mining, milling and exploration company.
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