NEW YORK, May 5, 2011 /PRNewswire/ -- Plateau Mineral
Development, Inc. ("Plateau Metals") (PINKSHEETS: PMDP) announced
today that it welcomes the addition of Auric Mining Company
("Auric", AUMY:PK) to the Homestead Gold and Silver Corp. Joint
Venture for the development of the St. Kevin Mine located near
Leadville, Colorado.
Plateau Metals had recently announced the signing of a Joint
Venture Commitment Agreement with Homestead Tonopah Gold LLC to
develop the St. Kevin Mine property; and the addition of Auric
Mining Company strengthens the team and resources available to
successfully complete an ambitious 2 year drilling program that is
intended to extend the proven gold and silver reserves on the
property by as much as ten times which would value the resource at
approximately $1 billion based on
current prices for the precious metals.
Auric Mining recently announced the signing of a Letter of
Intent (LOI) regarding the acquisition of Homestead Tonopah Gold
LLC with the intent of partnering with Homestead and Plateau on the
St. Kevin Mine development. The combination of Homestead,
Auric and Plateau will provide the necessary expertise, financing,
facilities, equipment, technology, and resources that are required
by the size and scale of the St. Kevin mine project. The
companies are also currently exploring additional
opportunities.
The St. Kevin Mine is registered under the claim name St. Kevin,
claim number 3364 and covers 10.33 net acres. It was
discovered in 1883 and is located approximately 7 miles northwest
of Leadville, Colorado and 3346
meters above sea level. The site was initially operated
continuously for 10 years and several times after that period.
The Company expects to make further details available regarding
the Joint Venture and drilling program as the schedules and
timetables are finalized.
Plateau Metals anticipates continued demand and price increases
in precious metals, therefore the Company has recently announced
the consolidation of its $80 million
Financial Guarantee allowing the Company the flexibility to utilize
funds for multiple purposes, including surety underwriting for
customer transactions as well as financial backing for the
Company's prospective acquisitions. Additionally, the company
has recently announced its real-time metals trading and storage
program.
The Company has other initiatives relating to the acquisition of
metal production and storage facilities to be announced as they
mature. The Company also has certain strategic plans regarding
international currency networks backed by gold and silver.
Corporate updates regarding these new initiatives will be announced
in the coming weeks.
The Company believes the international demand for precious
metals, combined with the worldwide fear of the declining US
Dollar, will combine to create strong and rapid growth for the
company across all its operations.
ABOUT PLATEAU METALS
Plateau Metals provides precious metal trading, shipping,
production, transaction underwriting, and related services. Plateau
operates across the world through its agents and offers service to
multiple jurisdictions. Plateau offers complete solutions to buyers
and sellers of precious metals that include storage, shipping, and
transaction underwriting and arbitrage.
Plateau also acquires, develops, integrates and operates
strategically aligned precious metal assets in worldwide markets
where expansion is planned through additional investments to
support organic growth; thereby providing significant revenue, and
equity growth.
The Company's operations are distributed across multiple
international time zones with executives and agents located in
client-appropriate locales. The Company's website is
www.plateaumetals.com.
Safe Harbor Statement:
This information includes certain "forward-looking statements."
The forward-looking statements reflect the beliefs, expectations,
objectives and goals of the Company management with respect to
future events and financial performance. They are based on
assumptions and estimates, which are believed reasonable at the
time such statements are made. However, actual results could differ
materially from anticipated results. Important factors that may
impact actual results include but are not limited to commodity
prices, political developments, legal decisions, market and
economic conditions, industry competition, the weather, changes in
financial markets and changing legislation and regulations. Matters
discussed in this press release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include
but are not limited to risks and uncertainties associated with the
impact of economic, competitive and other factors affecting the
Company and its operations, markets, product, and distributor
performance, the impact on the national and local economies
resulting from terrorist actions, and U.S. actions subsequently;
and other factors detailed in reports filed by the Company.
Forward-looking statements are intended to qualify for the safe
harbor provisions of Section 21E of the Securities and Exchange Act
of 1934, as amended.
CONTACT:
Plateau Metals
Investor Relations
New York: 1.917.463.3364
London: +(44) (0)20 337 17122
Fax: +(44) (0)208 338 0655
info@plateaumetals.com
SOURCE Plateau Mineral Development, Inc.