BEVERLY HILLS, Calif.,
Oct. 17, 2014 /PRNewswire/
-- AIM Exploration Inc., (OTC: AEXE) a U.S. mining corporation
focused on producing mines. The Company is pleased to announce two
key mining property acquisitions in the
Philippines and Peru. Both
properties have outstanding cash flow potential through
production.
Feldspar Project in the
Philippines
Under Filipino law, AEXE owns the maximum 40% interest of the
mineral rights to 648 Hectares of feldspar mining properties and
processing facility in Pasuquin, Ilocos Norte, in the Northern Philippines, logistically close to
Taiwan and China. This property appears to be highly rich
with the strong presence of Feldspar, Silica sand and
Limestone.
The property is in active feldspar production and the Company
has recently completed a successful test-purchase order for
300 MT. The Company subsequently
received a second test-order for 1,000 MT from the same client and
is in the process of completing that order. As a result of these
successful test orders the client is very pleased with the feldspar
quality and the Company is negotiating a purchase order for the
2015 production year with this client.
The Company intends to expand the production facility to include
equipment capable of refining the feldspar to be used in clear
glass manufacturing. Clear glass manufacturers have displayed a
great deal of interest in acquiring our product. In addition,
another major manufacturer and exporter based in Taiwan has approved our feldspar samples and
indicated that the quality is the same or even better than the
supply they import from China and
have requested a larger sample for test production.
Anthracite Coal Project in Peru
This acquisition consists of two mining concession rights
consisting of 400 hectares in Lajon Huayobamba Area, in the
Huaranchal District of Otuzco Province, Peru. In addition, AEXE has entered into an
agreement with Percana to acquire an additional 600 hectares
adjacent to the 400 hectare parcel following some additional due
diligence including an arbitration process currently underway by
the Lima Chamber of Commerce to
confirm that the previous owners are not owed any outstanding
royalties. Under the agreement AEXE currently has full
operational mining and exploration rights on all three
properties.
This announcement follows an assessment of the mining
concessions completed by a USA
based mining consulting firm (Gustavson Associates, Colorado, USA) (http://www.gustavson.com)
commissioned by AEXE to review (including a site visit) a detailed
technical report prepared for Percana in 2012 (a report that is non
compliant as a "NI 43101").
Gustavson has reviewed the current data of the 2012 report plus
made a site visit in December of 2013 and in general agrees with
the existence of the coal and the potential for mining. The report
includes recommendations for a drilling program for the next phase
of exploration. The total combined assets covers 1,000 (one
thousand) hectares over an area that is approximately 4,000 meters
east west by 3,000 meters north south.
This technical report reviewed by Gustavson, commissioned by
Percana was prepared by highly regarded Peruvian Mining Engineers
and Geologists indicate the strong presence of high-grade
Anthracite Coal reserves with potential inferred coal reserves of
104,000,000.0 MT. Gustavson has thus far reported back that they
want to further investigate the validity of the inferred coal
amounts.
About AIM Exploration Inc.
Aim Exploration Inc. (AEXE) is a California based production mining company
with operational offices in Manila
City, Philippines. AEXE operates
as a junior mining company focusing on global mining and
exploration.
Forward-Looking Statements
Certain
information set forth in this press release contains
"forward-looking statements" and "forward-looking information"
under applicable securities laws. Except for statements of
historical fact, certain information contained herein constitutes
forward-looking statements, which include management's assessment
of future plans and operations and are based on current internal
expectations, estimates, projections, assumptions and beliefs,
which may prove to be incorrect. Some of the forward-looking
statements may be identified by words such as "estimates",
"expects" "anticipates", "believes", "projects", "plans", "targets"
and similar expressions. These statements are not guarantees of
future performance and undue reliance should not be placed on them.
Such forward-looking statements necessarily involve known and
unknown risks and uncertainties, which may cause AEXE's actual
performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking statements.
AIM Exploration Inc.
J.R.
(Bob) Todhunter, Director, President & CEO
Toll Free: 1.844.246.7378
info@aimexploration.com
www.aimexploration.com
SOURCE AIM Exploration Inc.
