ATTENTION ALL MICRO CAP INVESTORS
Riley Resources has entered into a agreement with Prior Resources that may prove to be positive in the near future.
At .18 cents a share and under 20 millions shares outstanding, this company has the potential for signifigant price accumaltion.
Of special signifigance to all those following historical trends, this company has hit its consistent highs of between 40-90 cents in the months of April and May in the last 3 years. Management knows how to run the show and many prudent investors realizing these trends have made signifigant profits on Rileys Resources.
Here's the release out today, March 5, 1997:
Riley Resources has entered into an option agreement with Prior Resources pursuant to which
Riley has acquired the right to purchase a 50% interest in Prior's El Trejo gold property in
Mexico. The Trejo property consists of four mineral claims in Sinaloa State approximately 80
miles northeast of Mazatlan.
Under the agreement, Riley will make a total of $255,000US in option payments by August 1,
1998 and expend $1,000,000 U.S. on exploration by May 1, 1999. The mineral claims are
subject to a 3.0% Net Smelter Royalty.
A previous exploration program consisting of 18 drill holes and extensive trenching has revealed a
large zone of open pit gold mineralization with a minimum potential of 300,000 ounces gold. The
gold mineralization encountered to date appears amenable to low cost heap leach extraction
techniques and averages significantly higher than most heap leach operations in Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
RILEY RESOURCES LTD.
WILLIAM A. TRIMBLE
President & Director |
