Fortune Oil and Gas (FOGC) Mineral Claim LOI
22 Julho 2011 - 2:23PM
Marketwired
Fortune Oil and Gas, Inc. (FOGC) (PINK SHEETS: FOGC)
(http://www.fortuneoilandgascorp.com) Alta Mining through Its
Canadian based Subsidiary Alta Mining Inc is pleased to report that
it signed a Letter Of Intent ("LOI") to acquire mineral claim set
are contiguous to the Company's existing SGH Property. This
business decision will potentially increase the BC Property for
additional 24 mining claims totaling over 6000 Hectares, located in
the prolific mining region of Slocan BC Canada.
"We believe that adding this claim block will have an immediate
and positive effect to the development of our BC Project. Based on
our first glance at the property, we will be looking at the
possibility to immediately multiply value of company's assets and
make us competitive parity with a much bigger mining companies in
region." Stated Mr. Johan Verba, Company spokesperson.
The property has excellent potential for advanced mining
operations within the project area. The company intends to
undertake a review of all historical data available conduct
standard due diligence, and if positive, complete the mineral claim
acquisitions process as soon as possible.
The due diligence process is well underway.
More updates on FOGC subsidiaries to follow.
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