Brookmount Gives Corporate Update
08 Juillet 2010 - 5:34PM
Marketwired
Brookmount Explorations, Inc. WWW.BROOKMOUNT.COM, (OTCBB: BMXI)
(FRANKFURT: B6T) announces that it is nearing the completion of its
due diligence process for a proposed merger with Matmown, Inc.
Brookmount has received reports prepared by qualified geologists on
two of Matmown's properties in Chile and in Peru and is currently
awaiting for Matmown's audited financial statements which it
expects to receive within the next two weeks. Once all of the
information has been received Brookmount intends to make a timely
decision on the potential merger.
Brookmount's keystone Mercedes 100 project is located in a
prolific mining region which hosts some of the largest mining
operations in Peru such as Volcan's Cerro de Pasco and Doe Run's
huge smelter and mining operations at La Oroya, plus numerous other
large deposits and mining operations. Work to date on the project
has indicated the presence and significant potential of the project
for gold, silver, zinc and lead.
Currently, Brookmount management is working on the permitting
process to bring Mercedes 100 into limited production of about 350
tons/day which would provide it with ongoing revenues while
carrying on further exploration work on the property that
Brookmount expects will prove up the property's excellent potential
to host much larger mineral resources. Initially, the ore from the
Mercedes 100 project will be shipped to an off site plant for
processing while the management shops for a suitable concentration
plant to be erected on-site and has identified several options.
Presently the option of pre-fabricating a 350 to 400 ton/day plant
in Huancayo appears to be the most suitable and economical.
Brookmount is in negotiations with several entities to fund its
objectives which are expected to cost approximately $1,500,000.
Brookmount management believes that the proposed limited
production will bring tremendous value to the Company and its
shareholders and is working diligently to secure the funding
required and achieve its objectives.
Safe Harbor: This news release may include forward-looking
statements within the meaning of Section 27A of the United States
Securities Act of 1933, as amended, and Section 21E of the United
States Securities and Exchange Act of 1934, as amended with respect
to achieving corporate objectives, developing additional project
interests, the Company's analysis of opportunities in the
acquisition and development of various project interests and
certain other matters. These statements are made under the 'safe
harbor' provisions of the United States Private Securities
Litigation Reform Act of 1995 and involve risks and uncertainties
which could cause actual results to differ materially from those in
the forward-looking statements.
Contact: Peter Flueck Email Contact 206.497.2138
Brookmount Explorations (PK) (USOTC:BMXI)
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