North Springs Resources Updates Three Exploration Projects-Progress in Ghana, Arizona, and Nevada
13 Fevereiro 2012 - 12:00PM
Marketwired
North Springs Resources Corp. (OTCBB:NSRS)(PINKSHEETS:NSRS) (the
"Company" or "North Springs") is pleased to provide this current
update to shareholders regarding its mineral exploration and
development activities.
"Since our last update, we continue to make quick progress at
our exploration projects, particularly in Ghana, Arizona, and
Nevada. The most significant developments in the last few days
include making the next payment towards the Edum Banso Gold Project
ahead of schedule, advancing additional funds to the Goldstar
Project, and completing the next round of sampling at the Imperial
Property," stated Harry Lappa, President of North Springs. "I
anticipate that the projects will continue at this fast efficient
pace and expect to make substantial exploration progress on an
almost daily basis."
In Ghana, at the Company's 25% owned Edum Banso Gold Project
("Edum Banso"), North Springs recently forwarded the remaining
$100,000 payment to Discovery Gold of the total cash consideration
of $250,000 towards acquiring an additional 10% interest in the
project. Terms of the Definitive Agreement between the parties call
for North Springs to acquire an additional 10% interest in Edum
Banso by paying $250,000 to Discovery Gold (now completed) and
funding a multi-phase $1,000,000 work commitment in 2012. Planned
exploration work at Edum Banso includes additional geological
mapping, prospecting, soil sampling, trenching, and a
reverse-circulation (RC) drill program targeting 15-30
locations.
In Arizona, North Springs has advanced an additional $100,000 to
the project operators of the Company's 20% owned Goldstar/One Arm
Joe Gold Project (the "Goldstar Property" or "Goldstar"). The
additional funding will be used to expand the work force at
Goldstar and expedite the 21-hole drill program currently being
conducted there. Core samples from the first two drill holes are
scheduled to arrive at the laboratory this week for RUSH priority
testing. Results will be released as they become available.
In addition, the Company has also completed the next round of
surface and underground sampling at the Imperial Project in Nevada.
Numerous soil and rock chip samples were collected from several
high-priority targets across the property. The samples will be sent
to an independent third-party laboratory for immediate testing and
the results will be released as they become available.
Mr. Lappa concluded by stating, "Based on the popularity of the
series of videos taken of our work at Goldstar in Arizona, the
Company has begun a similar documentary program at the Imperial
Project in Nevada. Cameras were sent to the site last week to
capture footage of the property and the most recent sampling
program. We expect that the video will be available for viewing at
the Company website later this week."
About North Springs Resources Corp.
North Springs Resources Corp. is focused on the evaluation,
acquisition, exploration, and development of mineral resource
properties. The Company is led by a skilled and experienced
management team and independent consulting geologists with many
years of experience. North Springs is committed to creating value
for its shareholders by advancing its current holdings and by
acquiring new properties with significant potential.
For additional information, please visit
www.northspringsresources.com.
Harry Lappa, President
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT
TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS
NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING
STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS,
EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE. EXCEPT FOR THE
HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS
NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO
CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO
DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR
ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS
THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE
PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE",
"ANTICIPATE", "BELIEVE", "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS
ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE
COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH
NATURAL RESOURCE EXPLORATION AND DEVELOPMENT AND NEEDS FOR FUNDING
AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL
REPORT ON FORM 10-K AND ON FORM 10-Q AND FROM TIME-TO-TIME IN OTHER
PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS
INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS,
COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE
COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND
DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE
COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL
ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING
STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE
COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING
STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD
DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS.
ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS
AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE
CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR
INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL
OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE
RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM
TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE
COMMISSION.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY
WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. FINRA, THE SEC AND
THE OTCBB NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS
NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO
SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY
SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER,
SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR
QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH
JURISDICTION.
Contacts: LiveCall Investor Relations for North Springs
Resources Corp. Gerry Belanger, Investor Contact (201)
984-5646info@northspringsresources.com
www.northspringsresources.com
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