IAMR/MTNO MTN Holdings, Inc. Announces Signing of Letter of Intent to Refine Precious
Metals for InterAmerican Resources, Inc.
NEW YORK, Oct 29, 2001 /PRNewswire via COMTEX/ -- MTN Holdings, Inc. (OTC
Bulletin Board: MTNO), a Nevada corporation, announced today the signing of a
letter of intent to refine the precious metals mined by InterAmerican Resources,
Inc (OTC Bulletin Board: IAMR) from its recently acquired Sovereign Resources,
Inc. The refining will be done by MTNO's subsidiary DS&E Metals, Inc., a gold
refining company.
Mr. M. Spiegel, CEO of MTNO, stated, "We are pleased to be entering into a
multi-year agreement with InterAmerican Resources to refine their precious
metals mined in Washington State. This agreement will provide us access to a new
source of income, the mining industry, which has not been tapped by DS&E and its
predecessors. DS&E had over $18 million in revenues in year 2000, based on
unaudited financial statements of the company. The Company expects the annual
audit of DS&E to be completed on or about December 15, 2001."
The President of InterAmerican Resources Inc., Allan Smith, added, "We expect
commercially productive levels of gold and silver by-products to be confirmed by
the 3000 foot diamond drilling and grab samples on our recently acquired
Washington State properties. This letter of intent indicates our willingness to
move forward from the exploration phase to production."
The press release contains forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Expression of future goals and similar expressions reflecting something other
than historical fact involve risks and uncertainties. The actual results the
Companies achieve may differ materially from any forward-looking statements due
to such risks and uncertainties.
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SOURCE MTN Holdings, Inc.
CONTACT: M. Spiegel of MTNO, +1-212-594-5111, or
mspiegel@mtnholdings.com; or Allan Smith of IAMR, +1-305-438-
020, or
interamericanresources@yahoo.com
(MTNO IAMR)
prnewswire.com
Copyright (C) 2001 PR Newswire. All rights reserved.
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KEYWORD: New York
Nevada
Washington
INDUSTRY KEYWORD: MNG
OTC
SUBJECT CODE: OTC
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