ABOT Mining Announces Binding Silver Tailings Purchase &
Processing Agreement with its Mexican Operating/JV Partner
WOODLAND HILLS, Calif.,
Nov. 14, 2012 /PRNewswire/ -- ABOT
Mining (Pink Sheets: ABOT.pk) is pleased to announce that it has
entered into a legally binding Silver Tailings Purchase &
Processing Agreement (the "Agreement") with Rising Star Mining
("Operating/JV Partner") that sets forth terms and conditions for
purchase and production of silver tailings ("Tailings") known as
the Pueblo Project in Sinaloa,
Mexico.
The Company has paid advance monies and has scheduled payments
to commence mobilization works for road repair and equipment
maintenance. The Company expects to do the trial run of 150 tons of
Tailings and subsequently increase throughput to up to 600 tons of
Tailings per month.
As reported earlier, in addition to Pueblo Project, the Company
also intends to purchase and process gold ore stockpile, which is
located within 5 miles radius of its Aztlan 8B Project.
The term of the Agreement is for one year commencing from the
date of Agreement with possibilities of rollovers and extensions.
The size of each lot of Tailings has been agreed to be a minimum of
one hundred and fifty (150) tons per production run.
About the Company
ABOT is a US based mining company engaged in discovering,
acquiring, developing, producing, and marketing precious and
semi-precious metal properties and is currently headquartered in
Woodland Hills, California. ABOT
plans to create long term shareholder value by implementing an
aggressive exploration program, making new precious metals
discoveries and developing mining properties with long-life and low
cost operation.
Forward-Looking Statement
Any statements made in this press release which are not
historical facts contain certain forward-looking statements; as
such term is defined in the Private Security Litigation Reform Act
of 1995, concerning potential developments affecting the business,
prospects, financial condition and other aspects of the company to
which this release pertains. The actual results of the specific
items described in this release, and the company's operations
generally, may differ materially from what is projected in such
forward-looking statements. Although such statements are based upon
the best judgments of management of the company as of the date of
this release, significant deviations in magnitude, timing and other
factors may result from business risks and uncertainties including,
without limitation, the company's dependence on third parties,
general market and economic conditions, technical factors, the
availability of outside capital, receipt of revenues and other
factors, many of which are beyond the control of the company. The
company disclaims any obligation to update information contained in
any forward-looking statement. This press release shall not be
deemed a general solicitation.
Contact:
Imran Firoz,
President
Abot Mining Co.
ABOT.PK
6303 Owensmouth Avenue | 10th Floor
Woodland Hills | CA 91367
T: +1 818.302.0100
E: info@abotmining.com
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SOURCE ABOT Mining Co.