Thursday, 24 January 2019 02:18 GMT
ASPNet_2Years
img

Discovery Minerals Ltd Announces Shareholder Update and Executed LOI for US Mining Project OTC Markets:DSCR



(MENAFN - GlobeNewsWire - Nasdaq) itemprop="articleBody">

An LOI was executed for a Gold and Silver Project on War Eagle Mountain, Idaho. The Company expands Board of Directors and Advisory Board.

Phoenix, Arizona, Dec. 27, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Discovery Minerals LTD (OTCQB:DSCR) is an acquisition and development Company that targets natural resource properties primarily in precious metals and mining operations. Discovery Minerals is pleased to announce a shareholder update from the Board of Directors.

Dear Shareholders:

We are very pleased to announce recent accomplishments and plans for expanded operations in 2019. These include:

· Earlier in 2018 the Company brought all filings current.

· The Company has changed domicile to Wyoming creating direct cost benefits as well as additional investment opportunities for the Company.

· The Company has raised sufficient capital to enable active programs of inspection and investigation for suitable gold and precious metals mining projects targeted 'near to production.'

· The Company is continuing to negotiate for more favorable terms with Meritus Minerals for the Mongolian Gold mining project.

· Mr. Girvan Jackson, a seasoned expert with over 30 years operational experience in mining and specific expertise in underground mining operations, has joined the Board of Directors of the Company and accepted the position of Operations Manager.

· The Company has created an advisory panel to include John Archibald, Geologist, Rex Motton, Geologist and Darryl Pilgrim, Metallurgist and Mine Economist.

· The Company has executed an LOI for a joint venture with the owners of Gold & Silver Project on War Eagle Mountain, Mahogany, Poorman, Oro Fino, Golden Chariot workings, IDAHO. The Joint Venture will commence a pre-mining program in January 2019 which will include survey reports, geological mapping as well as a report on the existing, milling and extraction facility with a view of increasing throughput from 3 tons per hour to 10 tons per hour. In addition, the JV will continue the excellent work of the owners to gain access to the previous workings where industry knowledgeable commentators declared that these mines rivaled the Comstock lode in Virginia City in production of volume of gold and silver bullion.

Russell Smith, CEO of Discovery Minerals stated, 'In 2018 we have successfully positioned the Company to move forward leveraging both our expertise and capital resources. I am extremely proud of the team that we have assembled, specifically Girvan Jackson who has a proven track record of bringing in projects on time and below budget. While we are continuing our negotiations on Mongolian Gold project we are finding North America projects attractive to the Company due to the stable conditions and improved supply chain. The War Mountain project is a great example where its owners recognized our particular expertise. Our primary goal for 2019 is to build significant recurring revenue streams. We look forward to reporting advances in early January 2019 as we look to expand our operations and create long term shareholder value.'

About Discovery Minerals Ltd.:

Discovery Minerals Ltd. (OTC PINK: DSCR) is an acquisition and development company that targets natural resource properties and cutting edge technology opportunities through its subsidiaries. The Board of Directors has determined that these activities be continued with an emphasis on early positive cash flow from any projects undertaken.

Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.

Authorized by Russell Smith, CEO.

Contact: Discovery Minerals Ltd.

MENAFN2712201800703653ID1097891346


Discovery Minerals Ltd Announces Shareholder Update and Executed LOI for US Mining Project OTC Markets:DSCR

  Most popular stories  

Day | Week | Month