United Silver Corp. (TSX: USC) and Gold Finder (TSX VENTURE: GFN) Announce Expanded Joint Venture Crescent Silver Mine Project
04 Agosto 2011 - 10:03AM
Marketwired
United Silver Corp. (formerly United Mining Group, Inc.) ("USC" or
the "Company") (TSX: USC)(OTCQX: USCZF)(FRANKFURT: UM8) and Gold
Finder Explorations Ltd. ("Gold Finder") (TSX VENTURE: GFN),
announce that Gold Finder has agreed to include the Bunker Hill
claims in the Crescent Silver Mine project located in Silver
Valley, Idaho, in the Coeur d'Alene Mining District. The Bunker
Hill claims are contiguous to the Crescent Mine property that Gold
Finder acquired and granted to USC its earn in right in December,
2009. The Bunker Hill claims were recently purchased by USC and
under its Earn In Agreement with Gold Finder, USC offered this
property to be joint ventured with Gold Finder under the same terms
as the original property.
USC has now earned its 80% interest in the Crescent Silver Mine
project. As a result of the acceptance by Gold Finder of the Bunker
Hill claims, the joint venture property is the whole of the
Crescent Silver Mine project, with USC as operator and 80% owner
and Gold Finder as 20% owner. The formal Joint Venture agreement
between the parties is now being drafted. As part of the Joint
Venture, Management Committee meetings will be scheduled, and
regular updates will be sent out. Neil Linder, Gold Finder's
interim Chief Executive Officer, has replaced David Greenway as
Gold Finder's representative on the Management Committee.
ABOUT GOLD FINDER EXPLORATIONS LTD.
Gold Finder Explorations Ltd. is a Canadian resource company,
currently trading on the TSX Venture Exchange under the symbol
GFN.V, focused on growth through targeting advanced exploration
projects. Gold Finder currently holds an interest in two mineral
projects being the Golden Rose project located at Emerald Lake,
Northern Ontario and the Crescent Mine project located in the
Silver Lake area of the State of Idaho. For more information about
the Company, please visit: www.goldfinder.ca.
ABOUT UNITED SILVER CORP.
United Silver Corp. is a vertically integrated mining company
with operations in Idaho, USA. The Company has earned, through
development and operations, an 80% interest in the Crescent Silver
Mine project in Idaho's prolific Silver Belt - directly between two
of the world's historically largest silver producing properties,
the Sunshine and Bunker Hill mines. The Crescent Mine has
historically produced 25 million ounces of silver at an average
grade of 27.3 opt (SRK Consulting 43-101 report, March 1, 2010. The
Company believes this historical data to be reliable and relevant).
The Company also offers a full suite of mining services including
contract mining and mine machine repair and fabrication services to
silver miners in the district. USC is committed to building a
senior silver-producing mining company based on exploration and
development of the highly-prospective current land position at the
Crescent Silver Mine project and through the acquisition of
additional precious metals interests. The Company trades on the
Toronto Stock Exchange under the symbol "USC". For more information
about the Company, please visit: www.unitedsilvercorp.com.
ON BEHALF OF UNITED SILVER CORP.
Graham M. Clark Jr., Chief Executive Officer
ON BEHALF OF GOLD FINDER EXPLORATIONS LTD.
Neil Linder, Chief Executive Officer
FORWARD LOOKING STATEMENTS: This press release contains
forward-looking statements, which address future events and
conditions, which are subject to various risks and uncertainties.
Forward looking statements in this press release include that we
can build a senior silver-producing mining company based on
exploration and development of the highly-prospective current land
position at the Crescent Silver Mine project and through the
acquisition of additional precious metals interests, and that we
will sign a joint venture agreement. The Company's actual results
and financial position could differ materially from those
anticipated in such forward-looking statements as a result of
numerous factors, some of which may be beyond the Company's
control. These factors include: results of exploration activities
and development of mineral properties, estimation of mineral
reserves and resources, fluctuations in the marketplace for the
sale of minerals, the inability to implement corporate strategies,
the inability to obtain financing, the inability to agree with
joint venture or other key partners on important items, labor
shortages, the inability to keep key employees, currency
fluctuations, general market and industry conditions and other
risks disclosed in the Company's filings with Canadian Securities
Regulators.
Forward-looking statements are based on the expectations and
opinions of the Company's management on the date the statements are
made. The assumptions used in the preparation of such statements,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements. The Company expressly
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise.
The TSX Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
news release.
Contacts: United Silver Corp. Cathy Hume CHF Investor Relations
(416) 868-1079 x231 cathy@chfir.com www.unitedsilvercorp.com Gold
Finder Explorations Ltd. John Bevilacqua Acqua Capital Group
1-604-721-3000 info@acquacapitalgroup.com www.goldfinder.ca
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