Gold Mining USA Inc. Acquires Preacher Mine
February 3, 2014 - Sacramento, CA
Gold Mining USA Inc. (OTC Pink: GMUI) announced its first NI 43-101 last week. With an estimate of 140,000 ounces plus of gold on the property, the Company is assembling a team to coordinate an evaluation study supporting what it believes to be a substantial asset.
Given that the deposits appear to be open in many directions, the Company is confident that the potential for the estimate to increase is high. The property has favorable access roads already in place. This should allow us to advance this to an even higher economic evaluation almost immediately as we expand the resource estimate.
President Mr. Byrne states "We have deployed a full quality control and quality assurance team to strengthen our recent NI 43-101 report."
The Geologists have reported, "The mineral deposit can be mined using gravity recovery methods without significantly impacting the surrounding environment. These methods include the implementation of an onsite mill and setting up of gravity recovery units. The next stage of this project would be to file for a water pollution control permit through NDEP (3-6 month turn around).
Mr. Byrne concludes "This is a solid acquisition for our shareholders and our strategic partners. We unequivocally stated that our primary goal was to acquire projects with large mineral reserves that are in areas with accessible mining infrastructure in place. This allows GMUI various options to package, build equity, structure joint ventures, divest and create substantial cash flow."
Forward Looking Statements
This news release contains forward-looking statements made by Gold Mining USA, INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.
Gold Mining USA Inc.