Iron South Mining Corp.: Fierro Claims Option Agreement Amendment
April 05 2013 - 7:22PM
Access Wire
Iron South Mining Corp. (TSX-V: IS, FSE: OAY1 (WKN: A0RK7E),
"Iron South" or the "Company") announces that it has amended the
Fierro Project option agreement previously announced in the
Company's news release dated October 24, 2011 in respect of an
option on the group of mineral concessions, known as the Fierro
Claims, located in Rio Negro Province, Argentina (the
"Property").
The Company and the vendor, a private company, have agreed to
provide for a one year extension of the Company's first year's
required expenditures on the Property, in consideration of the
issuance of an additional 250,000 common shares of the Company
resulting in the exploration expenditures being shifted out by one
year. Accordingly, the cumulative issuance of 5,250,000 common
shares and cumulative exploration expenditures of $3,000,000 must
be made by the fifth anniversary of the date of TSX Venture
Exchange approval of the option agreement.
Completion of the amendment to the option agreement including
the issuance of the additional shares is subject to receipt of
approval from the TSX Venture Exchange.
About Iron South Mining Corp.
Iron South is a Vancouver-based iron exploration company led by
an industry-renowned management team with technical expertise and
market experience. Iron South has an option to earn 100% interest
in the Fierro high-grade iron project, located in Rio Negro,
Argentina. The project is immediately adjacent to the producing
Minera Sierra Grand iron mine, owned by Metallurgical Corporation
of China Ltd. Management is continuing to evaluate acquisitions to
build its property portfolio with a focus on iron projects with
established value and significant upside potential. Iron South is a
member of the Grosso Group, a management company specializing in
resource exploration since 1993.
ON BEHALF OF THE BOARD
"Gerald Carlson"
_______________________________
Dr. Gerald Carlson, President & CEO
For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@ironsouthmining.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements. Readers are encouraged to refer to
the Company's public disclosure documents for a more detailed
discussion of factors that may impact expected future results. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements. We advise U.S. investors that the SEC's
mining guidelines strictly prohibit information of this type in
documents filed with the SEC. U.S. investors are cautioned that
mineral deposits on adjacent properties are not indicative of
mineral deposits on our properties.