Pengram Secures Right to Negotiate Acquisition of Long Canyon Gold Trend Mineral Claims; Property is 8 Miles SW of Fronteer Gold
19 Abril 2011 - 7:00AM
Marketwired
Pengram Corporation (OTCQB: PNGM), an emerging gold exploration
company, today announced it has acquired an option to negotiate the
purchase of a substantial package consisting of 54 mineral claims
(the "Long Canyon Gold Trend Mineral Claims") located in Elko
County, Nevada.
The Long Canyon Gold Trend Mineral Claims are located
approximately eight miles southwest of Fronteer Gold's central Long
Canyon Gold Trend two million gold ounce discovery in Elko County's
Pequop Mountains.
That Long Canyon deposit, which Nevada State mining officials
have described as a "new mining district" with Carlin Trend
potential, was owned by Fronteer Gold. It was the primary property
for which Newmont Mining acquired Fronteer earlier this month for
$2.3 billion.
Under the terms of the agreement, Pengram paid $10,000 to a
Utah-based resource company for a 30-day exclusive right to
negotiate the acquisition of the Long Canyon Gold Trend package of
mineral claims. During this period expiring May 13, 2011, the
Company will continue its due diligence to determine the property's
gold mineralization prospective value, and expects to report to its
shareholders the final disposition of that negotiation when it is
concluded.
About Pengram Corporation
Pengram is an emerging gold exploration company searching the
globe for outstanding gold properties primarily in favorable mining
jurisdictions. Its strategy is to evaluate and acquire properties
where previous work has been conducted and yielded positive results
for the presence of gold. Its portfolio currently consists of four
properties -- three in Nevada and one in British Columbia -- under
active evaluation for development, in addition to the Long Canyon
Gold Trend Mineral Claims under due diligence and negotiation for
acquisition.
Forward Looking Statement
Statements in this news release that are not historical facts
are forward-looking statements that are subject to risks and
uncertainties. Words such as "expects", "intends", "plans", "may",
"could", "should", "anticipates", "likely", "believes" and words of
similar import also identify forward-looking statements.
Forward-looking statements are based on current facts and analyses
and other information that are based on forecasts of future
results, estimates of amounts not yet determined and assumptions of
management. The statements by our officers, and other statements
regarding: optimism related to the business; expanding acquisition,
exploration and development activities; and completing, a binding
agreement for mineral project acquisitions; as well as the
prospects, forecasts and projections for such mineral projects
owned; and other statements in this news release are
forward-looking statements. Such statements are based on current
expectations, estimates and projections about the Company's
business. Actual results could vary materially from the description
contained herein due to many risk factors that affect the industry
the Company operates in and other risk factors listed from time to
time in the Company's Securities and Exchange Commission (SEC)
filings under "risk factors" and elsewhere. In particular, there is
no assurance that Pengram will complete an acquisition of the Long
Canyon Gold Trend Mineral Claims or that the claims will contain
the same or similar mineralization of Newmont's Long Canyon
Deposit. The forward-looking statements contained in this news
release speak only as of the date on which they are made, and the
Company does not undertake any obligation to update any
forward-looking statement to reflect events or circumstances after
the date of this press release.
Contacts: Pengram Corporation 1-877-465-5355
info@pengramgold.com
Pengram (CE) (USOTC:PNGM)
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