Galaxy Minerals Addresses Naked Short Selling of Its Stock
Monday March 28, 5:00 pm ET
LAKE VILLA, Ill. and SANTA CRUZ COUNTY, Ariz., March 28 /PRNewswire-FirstCall/ -- Galaxy Minerals (OTC Bulletin Board: GAXY - News) announced today that it believes that the company's securities have been subject to Naked Short Selling. The company intends to take whatever action is necessary in this regard and is currently seeking legal council on the matter.
Matt Symonds the company president commented: "there seems to be a trend and anyone with an online quote can see who the culprits are; you only have to see who the lead seller is, in what seems a blatant manipulation. We intend to take whatever action we can; our investigations seem to point to the same groups that other small caps are suffering from. Fortunately we have found sanctuary with quite a few organizations that have offered advice in this regard."
Continuing Galaxy Project Updates:
Yellow Jacket & Phoenix Mine: Galaxy is currently making the final preparations to bring this mine in to production. Obtaining the correct permits for mining and getting the final data back from the labs is ongoing.
Culebrillas Mine-Peru: Galaxy Minerals has people on location and will be tendering for a planned intensive drilling program. We hope to see drilling take place in the later half of this year.
Oatman/Lexington Mines: Craig L. Parkinson of Parkinson Geologic Services was dispatched to do preliminary plotting, mapping, and rock chip sampling from the 7 patented mines. After this stage is complete, Parkinson Geologic Services will be conducting a review of the other 76 parcels of property we have on the claim block in and around Oatman Arizona.
Bonanza Project: This project is our latest acquisition with approx. 5000 acres of land. The project is a disseminated gold project that will require drilling and sampling across a vast area of the acreage. The company may take bids from drilling and/or engineering companies in order to expedite the exploration process.
ABOUT GALAXY MINERALS (www.galaxyminerals.com)
Galaxy Minerals, Inc. is incorporated in the State of Florida and trades on the OTC BB under the symbol GAXY.OB. Its main focus is that of Mining & Mining Exploration. Included in Galaxy Mineral's portfolio in various forms of JV and interest earning ventures are:
PERU:
The Culebrillas Gold Mine situated in the Pataz Gold Belt of Northern Peru has a potential Inferred Mineral Resource in excess of 3,000,000 ounces Gold, based upon independent historical data calculations, extensive sampling, previous drilling programs, and actual pilot plant production for the past 10 years. Galaxy has acquired certain mineral rights in Peru, to develop the Culebrillas mine.
ARIZONA:
OATMAN GOLD & LEXINGTON PATENTED GOLD PROJECTS
Galaxy Minerals Inc. has a 75% interest in 7 patented and 76 unpatented mining claims in and around Oatman Arizona.
YELLOW JACKET GOLD MINE & PHOENIX GOLD PROJECT
Galaxy currently holds a 51% interest in the patented Yellow Jacket Gold Mine in Southern Arizona and the adjoining Patented Phoenix Gold project.
The Company's headquarters are located in Chicago.
Galaxy Minerals, Inc. 500 Park Ave. Suite 203 Lake Villa IL 60046
847-265-7600 - Phone 847-265-0995 - Fax Lines
Email: Info@Galaxyminerals.com
Or
Investor Contact:
Cynthia DeMonte
DeMonte Associates
212-650-0525
cdemonte@aol.com
www.demonte.com
Forward-Looking Statements:
Mining and Mining Exploration is inherently risky by nature. If you are contemplating an investment in the company you should prior to any such action, contact your financial advisor and or accountant/Legal council or other party in advance of any such action. We recommend that you seek advice from an Industry specific consultant in conjunction to consulting your normal advisor. If you are in any doubt rather exercise caution and stay out. Certain statements included herein may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of a number of factors. These risks and uncertainties, and certain other related factors, are discussed in the Company's Form 10-KSB, Form 10-QSB and other filings with the Securities and Exchange Commission. These forward-looking statements are made as of this date and the Company assumes no obligation to update such forward-looking statements as a result of a number of factors.
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Source: Galaxy Minerals |
