AIVN:PK some HIGH #s and a POG increase may meam something in a future:
merican International Ventures Acquires 500,000 Ounce Gold Resource
RENO, Nev.--(BUSINESS WIRE)--July 31, 2002--American International Ventures Inc. (OTC: AIVN) announces the acquisition of a 500,000 ounce gold resource located in Nye County Nevada.
American International Ventures, (AIVN), has recently completed a purchase agreement with Orcana Resources Inc. and Miramar Gold Corporation, wholly owned subsidiaries of Miramar Mining Corporation, for the Bruner Property located in the Walker Lane Mineral Belt of Nevada. The Bruner property is a volcanic hosted epithermal gold system containing a drill indicated geologic resource estimated at 18.6 million tons at an average grade of 0.028 opt gold. The purchase is the beginning of AIVN's new mandate to acquire properties that contain existing, drilled gold resources. Under the direction of the new management team, AIVN is being restructured to take advantage of what it believes is the beginnings of a paradigm shift in the gold market that will, in the near future, result in a steady, significant rise in the price of gold. AIVN's goal is to gain control of 8 million to 10 million ounces of gold in existing resources during the present depressed gold market. It is AIVN's belief that this will substantially mitigate the inherent risk in gold exploration and, allowing a strong rise in gold price, these resources may be developed into producing mines. AIVN's present strategy is to acquire gold resource properties and to vend them to gold producers as the gold price approaches the individual property's economic threshold. AIVN, to limit risk, has no intention of becoming a gold producer at this time. However, should a full fledged primary bull market in gold evolve, AIVN may decide to gain control over selected highly prospective exploration properties, where there is a high probability of identifying gold resources. AIVN's immediate plans are to confirm and analyze the Bruner resource at various gold prices and to continue it's aggressive acquisition program.
FORWARD-LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding potential mineralization, resources and reserves, and development results, and the future plans and objectives of American International Ventures while forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate in actual results of future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from American International Ventures expectations are the down turn of the price of gold, inability of funds and also, the inability to obtain attractive properties.
CONTACT:
American International Ventures, Inc.
Barry Downs, 775/852-3875
or
Samuel G. Nunnemaker, 775/883-5287
Phone: 973/335-4400
Fax: 973/471-7327
SOURCE: American International Ventures, Inc. |
