Northern Vertex has the right to earn a 70% interest in the Moss Gold-Silver Property located in Mohave County, Arizona from Patriot Gold Corp. Subsequent to the Northern Vertex earn-in, financing of the project will be on a proportional basis. The Company paid $500,000 upfront with a work plan commitment of $8 million to earn the 70%. A Bankable Feasibility Study is a condition of the earn-in and will be included in the $8 million requirement. The Company has spent $4.5 million to date and expects to earn its 70% interest during Phase I.
About Northern Vertex:
Northern Vertex Mining Corp. is a Canadian based exploration and mining company focused on the development of precious metals deposits in the United States. The Company comprises an experienced management team with a strong background in all aspects of acquisition, exploration, development, operations and financing of precious metal mining projects. Its flagship Moss Gold-Silver Project located in Arizona, USA contains 956,800 oz of AuEq in the measured and indicated categories. The Moss Project is a low strip ratio, heap leach, open pit project and is being advanced under a three phase business plan, specifically designed to ensure that technical, economic, permitting and funding requirements are met prior to each phase proceeding. The Company is focused on working effectively and respectfully with our stakeholders and enhancing the capacity of the communities we work within.
ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington, President & CEO
Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such Statements.
This news release uses the terms "Measured", "Indicated", and "Inferred" resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.
This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Northern Vertex Mining Corp.
604-601-3656 or 1-855-633-8798
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