Tara sez Lateegra loses Picacho option
CHICAGO, IL -- (MARKET WIRE) -- 09/13/07 -- Tara Gold Resources Corp. (PINKSHEETS: TRGD) (FRANKFURT: T8N) announced that its Option Agreement with Lateegra Gold Corp., pertaining to the Picacho Groupings, has been terminated due to the failure of Lateegra to comply with the terms of the Option.
As a result of the termination, Tara Gold holds a 100% interest in the Picacho Groupings.
About Picacho Gold Mine
The Picacho Gold Mine is a 3,236 hectare mining concession located within the Northern Sierra Madre Gold Belt, 120 kilometers south of the United States Border, in Sonora State, Republic of Mexico. The mine includes rolling stock and an extensive processing facility currently capable of 250 tonnes/per day of ore throughput. The previous owners have been exploiting an up to 5 meter wide vein structure for the past three years by driving a 5 meter by 5 meter ramp declining 8% extending over 1km in length. Production comes from several working faces averaging 4-6 meters in width. The ore grades average 5 grams/tonne gold and 15 grams/tonne silver. Recent drilling on the property returned 11.28 meters of 15.57 g/t gold and 32.41 g/t silver.
About Tara Gold Resources Corp.
Tara Gold Resources Corp. is a growth-oriented precious metals exploration and development company with existing production plants. It is management's objective to become a significant gold and precious metals producer by re-initiating and increasing production levels at La Currita, Lluvia de Oro and Picacho, and developing the San Miguel, La Millionaria, and Las Minitas projects in Mexico. We continue to acquire other advanced-stage projects and/or producing mines in one of the most prolific precious metal districts in the world. For more information, please visit the Company's web site at: taragoldresources.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Tara Gold Resources Corp.
Website: www.TaraGoldResources.com
Investor Relations: 317-218-0204
Investor Relations Website: www.sfpindy.com
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