GoldSpring Announces 21% Increase in its Mineral Claims in the Comstock Lode District
* Press Release
* Source: GoldSpring, Inc.
* On Tuesday August 25, 2009, 8:30 am EDT
finance.yahoo.com
GOLD HILL, Nev., Aug. 25 /PRNewswire-FirstCall/ -- GoldSpring, Inc. announced today that it has increased the mineral claims in its Comstock Mine Project by 21% over the last twelve months. The project now includes 256 mining claims administered by the Bureau of Land Management. This announcement comes as the Company filed its annual mineral claims and paid its maintenance fees for the 2009-2010 year. GoldSpring's Comstock Mine Project now includes a mineral estate of 4,238 acres, including 590 acres of patented mining claims, and 3,648 acres of unpatented, BLM-administered mining claims.
"This is the largest land position in the Comstock ever consolidated by a single company," said Rob Faber, President and CEO of GoldSpring, Inc. "In light of the successful drilling program that commenced in December 2007, GoldSpring has focused on adding strategic properties to its portfolio in the Comstock. We believe the acquisitions of the last twelve months provide opportunities to increase our mineral resources through our ongoing exploration program."
The Company's recent gold and silver mineral reserve report, summarized in its May 15, 2009 press release, illustrates the success of the Comstock Mine Project to date. The Company continues to build on that success through the ongoing engineering and permitting activities required to open a profitable mining operation.
About GoldSpring, Inc.
GoldSpring, Inc. is a North American precious metals mining company, focused in Nevada, with extensive land holding in the Comstock Gold-Silver District of Nevada. The Company has defined an initial gold and silver deposit at the Hartford / Lucerne complex and has secured several of the key mining permits required to develop the project. The Company is currently engaged in an aggressive exploration program to define the extent of the Hartford / Lucerne complex, assess other key exploration targets on its large land package and push the project toward production. The high-grade nature of the bulk tonnage Hartford / Lucerne deposit and its favorable configuration has positioned the Company to become a new gold-silver producer in the future.
Cautionary Note to U.S. Investors: The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms on this press release, such as "measured", "indicated", and "inferred" resources, which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-KSB which may be secured from us, or from the SEC's website at sec.gov
The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by GoldSpring) contains statements that are 'forward-looking,' as defined in Section 21E of the Securities Exchange Act, such as statements relating to the future anticipated direction of the high technology and energy industries, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, mining capability and potential contracts. Such forward-looking information involves important risks and uncertainties, which include the risk factors disclosed in our most recent filings with the U.S. Securities and Exchange Commission, that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of GoldSpring.
These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors. These and other factors, which could cause actual results to differ materially, are discussed in more detail in GoldSpring's filings with the Securities and Exchange Commission. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'should,' 'will,' and 'would' or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Contact information for GoldSpring, Inc.:
P.O. Box 1118
Virginia City, NV 89440
Tel 775.847.5272
Fax 775.847.4762
goldspring.us
Robert T. Faber, President and CEO
480.603.5151
775.847.5272
E-mail: rfaber@goldspring.us |
