American Goldfields Inc. Announces Completion of the Formal Agreements to Acquire Interest in Nevada Mineral Exploration Property.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 13, 2004 American Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AGFL AGFL Affix Grammar Over Finite Lattices AGFL Airborne Ground Fire Locator ) announced that it has completed the formal agreements to acquire a 100% interest in a Nevada mineral exploration property currently controlled by MinQuest Inc., a natural resource exploration company. The Gilman Gold Prospect consists of 19 contiguous, unpatented mineral claims covering approximately 390 acres over the eastern flank of the Toiyabe Range The Toiyabe Range is a range of mountains in central Nevada in the western United States. It starts in northwestern Nye County north of Tonopah, Nevada and runs approximately 120 miles (190 km) north-northeast through eastern Lander County, making it the second longest range in the , located in Lander County in the State of Nevada, 28 kilometers south of Austin. The town of Austin is a historic mining region dating back to the early Nevada gold rush. Austin and the legendary Battle Mountain region, both in Lander County, span one of the most productive gold mining zones in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The area has hosted several significant gold deposits, including the Cortez Mine, which Placer Dome Placer Dome was a large mining company specializing in gold and other precious metals, with corporate headquarters in Vancouver, British Columbia, Canada. Barrick has acquired 100% of the Placer Dome shares on January 20, 2006, and has integrated the company into its own. has estimated the proven and probable mineral reserves to be 12.7 million ounces of gold, as of the end of last year. To the south 115 kilometers is the Tonopah district, which has historically been one of the State's most productive gold mining regions, and dates back to 1900. Round Mountain, situated 50 kilometers to the south of the Gilman Gold Prospect, has produced more than 5 million ounces of gold to date. The Manhattan gold district, 60 kilometers to the south of the Gilman Gold Prospect, has also been a significant gold producer. "The Gilman Gold Prospect is an exciting mineral exploration property, in an area which we believe to be one of the highest-profile mineral regions in Nevada," said Donald Neal, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Completion of the transaction is subject to certain conditions. Terms of the transaction are disclosed in the Company's EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. filings. Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in American Goldfields filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion