ABOT Mining Renegotiates and Reduces its Exploration Expenditure
Commitments on Aztlan 8B from $450,000 to $100,000
WOODLAND HILLS, Calif.,
Jan. 6, 2013 /PRNewswire/ -- ABOT
Mining (Pink Sheets: ABOT.pk) is pleased to announce that it has
favorably renegotiated its exploration expenditure commitments on
Aztlan 8B (the "Project") from $450,000 to
$100,000 while maintaining its equity interest option at 50%
in the Project. This addendum is made valid as it is included in
the original Option Agreement signed with Rising Star Mining on
December 6, 2011.
The reduction of this contractual capital commitment by almost
78% will reduce our current liabilities and improve the balance
sheet considerably. The Company expects to deploy its immediate
capital in the production and expansion of its recently announced
Silver Tailings Project.
About the Company
ABOT is a US based mining company
engaged in discovering, acquiring, developing, producing, and
marketing precious and semi-precious metal properties and is
currently headquartered in Woodland
Hills, California. ABOT plans to create long term
shareholder value by implementing an aggressive exploration
program, making new precious metals discoveries and developing
mining properties with long-life and low cost operation.
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Forward-Looking Statement
Any statements made in this
press release which are not historical facts contain certain
forward-looking statements; as such term is defined in the Private
Security Litigation Reform Act of 1995, concerning potential
developments affecting the business, prospects, financial condition
and other aspects of the company to which this release pertains.
The actual results of the specific items described in this release,
and the company's operations generally, may differ materially from
what is projected in such forward-looking statements. Although such
statements are based upon the best judgments of management of the
company as of the date of this release, significant deviations in
magnitude, timing and other factors may result from business risks
and uncertainties including, without limitation, the company's
dependence on third parties, general market and economic
conditions, technical factors, the availability of outside capital,
receipt of revenues and other factors, many of which are beyond the
control of the company. The company disclaims any obligation to
update information contained in any forward-looking statement. This
press release shall not be deemed a general solicitation.
Contact:
Imran Firoz,
President
Abot Mining Co.
ABOT.PK
6303 Owensmouth Avenue | 10th Floor
Woodland Hills | CA 91367
T: +1 818.302.0100
E: info@abotmining.com
SOURCE ABOT Mining
