Bullion Monarch Mining Announces Court Denies Newmont USA Limited Motion for Judgment on the Pleadings.OREM, Utah -- Bullion Monarch Mining, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : BULM) (www.bullionmm.com), a natural resource company with mining interests in gold, silver and oil, filed an action in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. , District of Nevada, on April 28, 2008, against Newmont USA Limited, a Delaware corporation ("Newmont"), and wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Newmont Mining Corporation ("NEM"). This matter involves Bullion's attempt to collect additional royalties it believes are owed pursuant to a 1979 agreement between predecessors of Bullion and Newmont. Pursuant to that agreement, Bullion ceased mining and exploration activities in the Lynn Mining District located in Northern Eureka County in Nevada, and in a defined multiple square mile area of interest surrounding that mining district. In return, Newmont (through its predecessor), as claimed by Bullion, agreed to pay Bullion a one percent royalty on any production in the Lynn Mining District and the area of interest that was described in the Agreement (the "Area of Interest"). Additional information regarding this legal action is contained in Bullion's 8-K Current Report dated April 28, 2008, which was filed with the Securities and Exchange Commission today. Bullion has also requested more detailed accountings of the royalties being paid by Newmont as specified in the contract. Newmont has refused to provide the additional requested data. On March 4, 2009, the United States District Court denied Newmont's Motion for Judgment on the Pleadings Noun 1. judgment on the pleadings - a judgment rendered by the court prior to a verdict because no material issue of fact exists and one party or the other is entitled to a judgment as a matter of law , by which Newmont claimed that a 1993 Nevada court proceeding and judgment invalidated or adjudicated Bullion's royalty interest royalty interest The proportional ownership interest by the owner of oil and gas rights in income produced by the asset. See also overriding royalty interest. in any of the properties covered by the 1979 agreement, including the Area of Interest. It is not clear whether Newmont will attempt to appeal this decision. Otherwise, the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. of Bullion's claims will continue. Forward-Looking Statements Forward-looking statements in this press release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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