North Springs Resources Completes Initial Sampling and Submits for Additional 42 Claims; Secures Initial Financing of $130,000 of $1 Million Draw-Down Line of Credit Note
(firmenpresse) - LAS VEGAS, NEVADA -- (Marketwire) -- 12/23/11 -- North Springs Resources Corp. (OTCBB: NSRS)(PINKSHEETS: NSRS) (the "Company" or "North Springs") is pleased to announce that it has completed initial field work and sampling on the North Springs Gold Project, which is located in the prestigious Mineral Ridge Mining District in Esmeralda County, Nevada, USA. In addition, the Company has secured a $1 million Draw-Down Line of Credit Note to fund exploration, growth, and on-going operations.
In early October 2011, a team of independent geologists took 42 rock-chip samples from the Company's current claims and surrounding areas. The results from this sampling program identified significant gold mineralization up to 0.23 ounces per ton from surface workings (complete results are available on our website at ). Based on these findings, North Springs has, this week, submitted documentation to record an additional 42 claims with the Nevada Bureau of Land Management in Esmeralda County, which should be accepted shortly. If successful in recording all 42 claims, the North Springs Gold Project will consist of a total of 58 claims covering 1,160 acres.
"We are hitting the ground running! The samples that were recently sent to the lab for assaying have returned with very favorable results. I'm very pleased that we have quickly proven the potential of the project and shown our team's commitment to success," stated Harry Lappa, President of North Springs Resources. "In addition to returning some high-grade gold samples, the initial sampling work vastly increased our knowledge of the property. As a result, the Company is attempting to add an additional 42 claims in the area surrounding our existing claims to fully exploit the opportunity. The North Springs Gold Project currently has well defined drill targets based on both geologic mapping and surface sampling; presently demonstrating excellent potential for the discovery of a significant gold deposit."
Also, the Company has secured an initial financing of $130,000. This initial financing is part of a 12-month $1 million Draw-Down Line of Credit Note. The proceeds from this financing will be used for general working capital purposes or such other purposes as the Company may determine from time to time.
Mr. Lappa went on to state, "The initial financing, as well as the access to future capital, increases our flexibility to further operations and to allocate funds to the acquisition, exploration, and development of additional mining projects."
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor will there be any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction.
About North Springs Resources Corp.
North Springs Resources Corp. is focused on the evaluation, acquisition, exploration, and development of mineral resource properties. Currently, we are in the evaluation and acquisition phase of operations. The Company is led by a skilled and experienced management team and independent consulting geologists with many years of experience. North Springs is committed to creating value for its shareholders by advancing its current holdings and by acquiring new properties with significant potential.
For additional information, please visit .
Harry Lappa, President
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING INTENTIONS REGARDING THE FUTURE.EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE", "ANTICIPATE", "BELIEVE", "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH NATURAL RESOURCE EXPLORATION AND DEVELOPMENT AND NEEDS FOR FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL REPORT ON FORM 10-K AND ON FORM 10-Q AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.
Contacts:
Investor Contact:
Gerry Belanger
LiveCall Investor Relations for
North Springs Resources Corp.
(201) 984-5646
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Datum: 23.12.2011 - 21:30 Uhr
Sprache: Deutsch
News-ID 99851
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Town:
LAS VEGAS, NEVADA
Kategorie:
Mining & Metals
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