G & S Minerals and Mayan Gold, Inc Successfully Close Milestone Strategic Cross Investment and Gold Field Development Agreement
August 12 2008 - 8:53AM
Marketwired
G & S Minerals, Inc. dba Gold & Silver Minerals ("G&S,"
"the Company") (PINKSHEETS: GSML) (FRANKFURT: G9S), a mining
company focused on developing high-quality and low-risk mineral
resource and energy prospects, today announced that the Company and
Mayan Gold, Inc have successfully closed their milestone Strategic
Cross Investment and Gold Field Development Agreement.
Succeeding an extensive due diligence period following the
initial agreement in principle as announced on January 28, 2008,
both companies have executed the final agreement providing for the
exchange of G&S Minerals common stock and warrants for a 100%
interest in the El Transito concession. All related documents and
obligations have been mutually signed and completed, and the
transaction is now deemed closed.
The Company will provide further information as to the specific
terms and details of the executed agreement in a subsequent
announcement. G&S management and the Company Board of Directors
are pleased to have completed this important agreement with Mayan
Gold, Inc, and continue to seek and develop mineral and energy
prospects to maximize shareholder value.
ABOUT G & S MINERALS, INC.:
G & S Minerals, Inc. (which also does business under the
name "Gold & Silver Minerals") is a mining company focused on
acquiring and developing high-quality, low-risk mineral resource
and energy prospects. G & S Minerals is aggressively pursuing
opportunities to develop working interests in mineral properties
that offer a short time to production, as well as significant
upside exploration potential. In addition, G & S Minerals is
investigating opportunities for corporate transactions that will
expand the mineral and resource portfolio. By leveraging its
network of industry contacts, management expertise, and its
targeted acquisitions, G & S Minerals is working to build rapid
asset growth, near-term cash flow, and shareholder value.
Additional information is available at G & S Minerals' website
at www.gold-silverco.com.
Forward-Looking Statements:
This press release contains forward-looking statements within
the meaning of applicable securities laws, including statements
about the Company's stock quotation and disclosure plans and
actions, as well as the anticipated actions of third parties. These
statements are subject to numerous assumptions and uncertainties,
many of which are outside the Company's control. Statements in this
document are based on information the Company believes to be
reasonable, but involve significant uncertainties as to the timing
and outcome of the Company's submissions and the review process at
Pink OTC Markets Inc. Such uncertainties include the substance and
timing of the review process, any resulting comments or questions,
intervening changes in the Company's status and business, and the
Company's ability to obtain and provide necessary current
information to Pink OTC Markets Inc. Actual results and timetables
could vary significantly from the estimates presented. Readers are
cautioned not to put undue reliance on forward-looking statements.
Except as noted above, the Company disclaims any obligation to
update such forward-looking statements, whether as a result of new
information, future events, or otherwise.
Company Contact: G & S Minerals, Inc. Charles Brown
702-943-8848
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