Affinity Gold Corp. Enters Into Mineral Lease Agreement on Its Flagship Project
12 Abril 2012 - 9:45AM
Business Wire
Affinity Gold Corp. (AFYG.pk) (“Affinity” or the “Company”) is
pleased to announce that its wholly-owned subsidiary, Affinity
Peru, S.A.C., entered into a mineral lease agreement (the
“Agreement”) with Consorcio Misenia, S.A.C. (“Misenia”), a
Peru-based company, on February 29th, 2012, with its flagship
project in Carabaya, Puno, Peru.
Under the lease agreement, Affinity will earn 15% of net
production while maintaining 100% ownership of the mineral
concessions. The lease period will be for five (5) years with an
option to renew but no option to purchase. Misenia has provided a
$50,000 deposit to Affinity which becomes non-refundable upon
Affinity successfully receiving its Environmental Impact Study
approval.
Immediately, the parties are focused on two fronts:
1) Completion and approval of the Environmental Impact Study,
and
2) Additional exploration and verification of pre-feasibility
studies
Additional exploration and verification of pre-feasibility data
will confirm location, type and scale of pilot plant to
install.
“This agreement with Misenia provides Affinity a partner with
the financial capacity, industry knowledge and local presence in
Peru to help move this project forward successfully,” said Corey
Sandberg, President and CEO. “Our focus now is on the environmental
approval process which we have already begun. Once necessary
approvals and permits are received, the goal will be to reach a
production capacity of 5,000 m³/day within 9-12 months after
successfully establishing the pilot plant.”
About Consorcio Misenia, S.A.C.
Based in Miraflores, Lima, Peru, Consorcio Misenia, S.A.C. is
part of a consortium of companies active in mining, real estate
investment and development, architectural design and construction,
and business management & consulting.
About Affinity Gold Corp.:
Affinity Gold Corp. is a mineral exploration and development
company engaged in the acquisition, exploration and development of
gold mineralization properties internationally. Affinity Gold
Corp.’s current primary focus is gold exploration in Peru.
www.affinitygold.com
For further information please refer to the Company’s filings
with the SEC on EDGAR available at www.sec.gov
FORWARD-LOOKING STATEMENTS
Statements in this news release, which are not purely
historical, are "forward-looking statements", including any
statements regarding beliefs, plans, expectations or intentions
regarding the future about Affinity Gold Corp., and its
subsidiaries. Such forward-looking statements are within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and section 21E of the United States Securities and Exchange Act of
1934, as amended, and are intended to be covered by the safe harbor
created by such sections. These statements involve risks and
uncertainties which could cause actual results to differ materially
from those in the forward-looking statements contained herein. Such
risks and uncertainties may include, but are not limited to, the
risks and uncertainties such as the ability to obtain additional
financing, the ability to manage growth, acquisitions of
technology, equipment or human resources, the effect of economic
and business conditions, the ability to attract and retain skilled
personnel, the risks inherent in exploration and factors outside
the control of the Company. 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
SEC. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy.
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