Hong Kong-Based Trading Company Submits Letter of Intent to Buy El Capitan Precious-Metals-Rich Tailings
August 21 2014 - 3:28PM
Business Wire
Anticipated Sales of Tailings and Iron Ore
Herald the Company’s Transition from Exploration to Mining
Operations
El Capitan Precious Metals, Inc. (OTCBB: ECPN) announced today
that it has received a Letter of Intent from a Hong Kong-based
trading company to purchase tailings from the Company’s New Mexico
property. The two parties are currently in contract
negotiations.
ECPN Board Chairman John F. Stapleton reported that the LOI
specifies the trading company’s interest in an ongoing, multi-year
agreement with El Capitan.
Chuck Mottley, El Capitan President and CEO, stated that the
values of the precious-metals-rich tailings have been confirmed by
an independent, domestic metallurgical firm.
The contract in negotiation will be the first sales agreement
for precious metals entered into by El Capitan Precious Metals.
With another new contract in negotiation and a contract in place
for the sale of iron ore, El Capitan will have established itself
as a sustainable and profitable mining company. In addition, these
developments mark the Company’s transition from an exploration
company to an operating mining company.
About El Capitan Precious Metals,
Inc.: El Capitan Precious Metals, Inc. is a mining company
based in Scottsdale, Arizona that is principally engaged in the
exploration of precious metals and other minerals. The Company’s
primary asset is its wholly owned subsidiary El Capitan, Ltd., an
Arizona corporation, which holds the 100% equity interest in the El
Capitan property located near Capitan, New Mexico.
www.elcapitanpmi.com
Forward-Looking Safe Harbor Statement:
The statements included in this press release concerning
predictions of economic performance and management’s plans and
objectives constitute forward-looking statements made pursuant to
the safe harbor provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended. Forward-looking statements are statements
that are not historical facts. Words such as “expect(s),”
“feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar
expressions are intended to identify forward-looking statements.
These statements include, but are not limited to, statements
regarding the expected completion, timing and results of
metallurgical testing, interpretation of drill results, the
geology, grade and continuity of mineral deposits, results of
initial feasibility, pre-feasibility and feasibility studies and
expectations with respect to the engaging in strategic
transactions. All of such statements are subject to risks and
uncertainties, many of which are difficult to predict and generally
beyond the control of the Company, that could cause actual results
to differ materially from those expressed in, or implied or
projected by, the forward-looking information and statements.
Specifically, there can be no assurance regarding the timing and
terms of any transaction involving the Company or its El Capitan
property, or that such a transaction will be completed at all. In
addition, there can be no assurance that periodic updates to the
Company’s geological technical reports will support the Company’s
prior claims regarding the metallurgical value and make-up of the
ore on the New Mexico property. Additional risks and uncertainties
affecting the Company include, but are not limited to, the
possibility that future exploration, development, testing or mining
results will not be consistent with past results and/or the
Company’s expectations; discrepancies between different types of
testing methods, some or all of which may not be industry standard;
the ability to mine precious and other minerals on a cost effective
basis; the Company’s ability to successfully complete contracts for
the sale of its products; fluctuations in world market prices for
the Company’s products; the Company’s ability to obtain and
maintain regulatory approvals; the Company’s ability to obtain
financing for continued operations and/or the commencement of
mining activities on satisfactory terms; the Company’s ability to
enter into and meet all the conditions to consummate contracts to
sell its mining properties that it chooses to list for sale; and
other risks and uncertainties described in the Company’s filings
from time to time with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date hereof,
and we do not undertake any obligation to revise and disseminate
forward-looking statements to reflect events or circumstances after
the date hereof, or to reflect the occurrence of or non-occurrence
of any events.
El Capitan Precious Metals, Inc.John Stapleton, 480-440-1449
El Capitan Precious Metals (CE) (USOTC:ECPN)
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