2013-11-21 15:36:26 -
Las Vegas, Nevada US, November 21, 2013 /FSC/ - Mission Mining Company (MISM - OTC PINK),Mission Mining announces that the Company has posted its recent National Instrument ('NI') 43-101 Mineral Resource Estimate Report on the Company's website at--www.MissionMining.com. The NI 43-101 Report on the Company's Gold Star Mine in western Nevada confirms a total Measured Mineral Resource* quantity of 17.2 million ounces of gold and 121 million ounces of silver located in the top 30 feet of surface material across the 960-acre Gold Star claims, totaling approximately $24.7 Billion in value at current gold and silver prices.
Previous historical exploration estimates of the property have indicated an overall average of 0.29 ounces of gold per ton of alluvium on site,
and 2.04 ounces of silver per ton of alluvium on-site. The NI 43-101 Mineral Resource Estimate Report by Zivkovic Geophysical Investigations, LLC, further estimates the total Measured and Inferred Mineral Resources at Gold Star Mine to be approximately 316.8 million ounces of gold and approximately 2.227 billion ounces of silver.
Mission Mining Company CEO, Carlton Wingett, stated, "The results of the NI 43-101 Report appear to validate the economic viability of recovering substantial quantities and concentrations of gold and silver ore at our Gold Star Mine. Based upon confirmation of approximately $24.7 Billion in total *Measured Mineral Resource value located near the surface, the Company will immediately pursue its business strategy to obtain the permits and funds necessary to place the Gold Star Mine into production as quickly as possible."
*Measured Mineral Resource
"A "Measured Mineral Resource" is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity."
- Per CIM Definitions Standards for the classification of Mineral Resource and Mineral Reserve estimates, adopted November 27, 2010
About Mission Mining Company
Mission Mining Company focuses on the acquisition and development of significant US gold, silver, platinum group metals, and rare earth minerals mining properties and placing these properties into production. The Company has acquired 100.0% ownership of the six Gold Star mining claims in Esmeralda County, Nevada, and has executed a 49-years renewable mining / operating lease for the seventeen El Dorado mining claims in San Bernardino County, California. Historical geological reports on the two properties indicate substantial values in gold, silver, platinum group metals (PGM), and untested amounts of rare earth elements (REE).
This release may contain "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and of Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief, or current expectations of Mission Mining Company and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully in its market segment, and the ability to complete some or all of the before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results. Cautionary note to US investors: The US SEC limits disclosure for US reporting purposes to mineral deposits that a company can economically and legally extract or produce. Certain terms, such as reserves, resources, geologic resources, proven, probable, measured, indicated, or inferred, which may not be consistent with the reserve definitions established by the SEC. US investors are urged to consider to review and obtain copies of our filings from the SEC's website at-- www.sec.gov/edgar.shtml
Carlton Wingett - CEO
Phone - 888-459-4889
To view the press release as a PDF file, please click on the following link:
Source Mission Mining Company (MISM - OTC_PINK) www.missionmining.com/
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