All American Gold Corp Signs Letter of Intent for Advanced Stage Nevada Exploration Project
April 23 2012 - 6:00AM
Business Wire
All American Gold Corp (OTCBB:AAGC) is pleased to announce that
it has signed a Letter of Intent with Desert Pacific Exploration,
Inc. (“Desert Pacific”) that sets out guideline terms and
conditions between Desert Pacific and the Company for the “Essex”
mineral property. Under the terms of the agreement, All American
has an exclusive period until May 10, 2012 to investigate the
mineral property and data from previous mining results and other
due diligence. The Company may enter into a mining option agreement
with Desert Pacific within this exclusive time period.
About Essex Property, Nevada
The Essex Project is comprised of 18 unpatented mining claims
covering a total of 360 acres within the Nevada mining district,
White Pine County, Nevada. The property is located approximately 10
miles southeast of Ely, Nevada.
Previous drilling on roughly 400 feet centers with significant
underground workings have identified a mineralized zone
approximately 4,500 feet in length and open in both directions.
Gold and silver occur within a jasperoid developed along the
contact of Mississippian age Joana limestone and Chainman shale.
The mineralization has been followed to depths of 700 feet in
historic workings. Gold values to 40 g/t and silver values to 280
g/t have been obtained by the USGS and others from underground
workings.
The project area encompasses a northwesterly trending structural
zone which can be followed along strike for over 2,500 meters. The
structure cuts Devonian Guillemette limestone,
Devonian/Mississippian Pilot shale, Mississippian Joana limestone,
and Mississippian Chainman shale which are the host rocks in the
“Alligator Ridge” district. Alteration as jasperoid follows bedding
along the Joana-Chainman and Joana-Pilot contacts. Workings and
drill holes have encountered gold and silver within a jasperoid
developed along Joana-Chainman contact zone where it plunges to the
west.
This project represents an advanced stage exploration property
with no defined resource. Desert Pacific believes the property
shares similarities with Alligator Ridge. Targets within the Pilot
Shale, the main host for Alligator Ridge ore deposits, remain
untested.
About All American Gold:
All American Gold Corporation is a precious mineral exploration
company focused on the acquisition and ongoing exploration of
mineral property holdings in the United States. The company has
spread its holdings across the state of Nevada, diversifying its
investment while using the latest technology and geological
resources to select properties in the most promising mineral zones.
All American Gold Corp. intends to continue to seek out new
opportunities through its experienced and proven geological team.
Additional information concerning All American Gold Corp’s projects
can be found on the company’s website at
www.allamericangoldcorp.com
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”, AS THAT
TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS
NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING
STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS,
EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS
DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS
THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD
CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS,
PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH
STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING
STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH
WORDS AS ”ESTIMATE”,””ANTICIPATE”, “BELIEVE”, “PLAN” OR “EXPECT” OR
SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING
STATEMENTS CONTAINED IN THIS NEWS RELEASE INCLUDE STATEMENTS
RELATING TO THE COMPANY’S PLANS TO ENTER INTO A MINING OPTION
AGREEMENT WITHIN THE NEXT FORTY-FIVE DAYS. RISKS AND UNCERTAINTIES
FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS
ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE
RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY
REPORTS ON FORM 10-K AND FORM 10-Q, RESPECTIVELY, AND FROM
TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE
COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY
APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL
REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS
EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE
THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED AND THE COMPANY
WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING
STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE
COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING
STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD
DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS.
ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS
AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE
CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR
INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL
OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE
RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM
TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE
COMMISSION.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY
WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES
REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF
THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER
TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE
ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH
OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION
OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH
JURISDICTION.
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