Creston Acquires Surface Rights
28 Octobre 2010 - 2:00PM
Marketwired
Creston Moly Corp. (TSX VENTURE: CMS) ("Creston" or the "Company")
today announced that it has finalized the purchase and lease to
purchase agreements for three tracts of land adjacent to the
Company's El Creston molybdenum deposit located in Sonora State,
Mexico. Two of the properties were purchased, and a twenty year
lease with an exclusive option to purchase was arranged for the
third. Creston now controls a total of 3,498 ha of surface rights
encompassing the El Creston molybdenum deposit, the proposed plant
site, and the tailings and waste dump sites as contemplated in the
M3 pre feasibility that was issued in February 2009.
"Securing these surface rights will allow our Company to develop
the El Creston molybdenum deposit entirely within our land
holdings," said Bruce McLeod, President & CEO. "In addition we
now have more flexibility in finalizing the selection of proposed
civil works required to advance the project towards
production."
A map showing the area of interest is available at
www.crestonmoly.com or click the link below to view the map:
www.crestonmoly.com/i/maps/2010-10-27_Land_Acquisition_1.jpg
Further to the Company's press release dated July 28, 2010, the
second tranche of the financing did not proceed. The financing
closed with gross proceeds of $3,687,300 by the issuance of
20,485,000 common shares at a price of $0.18 per share.
On Behalf of the Board of Directors
CRESTON MOLY CORP.
D. Bruce McLeod, President & CEO
Forward-Looking Statements
This document may contain "forward-looking statements" within
the meaning of Canadian securities legislation and the United
States Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made as of the date of this document
and Creston does not intend, and does not assume any obligation, to
update these forward-looking statements.
Forward-looking statements relate to future events or future
performance and reflect Creston management's expectations or
beliefs regarding future events and include, but are not limited
to, statements with respect to the estimation of mineral reserves
and resources, the realization of mineral reserve estimates, the
timing and amount of estimated future production, costs of
production, capital expenditures, success of mining operations,
environmental risks, unanticipated reclamation expenses, title
disputes or claims and limitations on insurance coverage. In
certain cases, forward-looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" or the negative of these
terms or comparable terminology. By their very nature
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Creston to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Such factors include,
among others, risks related to actual results of current
exploration activities; changes in project parameters as plans
continue to be refined; future prices of resources; possible
variations in ore reserves, grade or recovery rates; accidents,
labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion
of development or construction activities; as well as those factors
detailed from time to time in Creston's interim and annual
financial statements and management's discussion and analysis of
those statements, all of which are filed and available for review
on SEDAR at www.sedar.com. Although Creston has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such
statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
Neither the 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.
Contacts: Creston Moly Corp. Mr. Bruce McLeod President &
CEO 604-687-7545 or Toll Free: 1-888-338-2200 Creston Moly Corp.
Chris Curran Investor Relations 604-687-7545 or Toll Free:
1-888-338-2200 Creston Moly Corp. Ken MacDonald 604-694-0005
www.crestonmoly.com
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