Foy-Johnston Announces Acquisition of Boda Diamond and Gold
Concession in Central African Republic
LAS VEGAS, March 7, 2013 /PRNewswire/ -- Foy-Johnston
(OTC Pink: FOYJ), is pleased to announce that it has entered into
an agreement to acquire the exclusive leasing rights from Socemine,
Sarl who hold the concession rights for another 18 years. The Boda
diamond and gold Concession totaling 79,000 hectares in the Boda
district with in the Central African
Republic. The acquisition brings under Foy-Johnston control
a total of 79,000 hectares, or 719 square kilometers in the
Southern Central African Republic
area of the Country trough the Central African Gold and
Diamond Belt.
The Boda Concession lies between proven diamond and bearing
properties giving Foy-Johnston contiguous acreage in its
concessions. Previous reports on the Boda Concession have indicated
that the Concession has the possibility of averaging 1-4 carat of
gem diamond per metric ton and on average 1 gram of gold per
ton.
Previously completed soil sampling and stream sediment sampling
have suggested some of the target trends of the producing Boda gold
and diamond mine system continue across the newly acquired ground.
Historical sampling work has shown significant gold and diamond
values. The company is planning to immediately incorporate the Boda
acreage into its 2013 exploration plan.
"The acquisition of potential ounces of gold and rich diamond
bearing gravel coupled with an aggressive exploration program
dovetails very well with our production plans for the concession,"
Kabir Maina, Foy-Johnston Chief of
Operation commented. "This acquisition increases the scale
potential of our already significant targets and adds more highly
prospective ground to our portfolio. It also further positions us
to be a consolidator by extending coverage over the heart of the
Central African region which we believe has the potential and
history as one of the region's major gold and diamond producing
areas.
About Foy-Johnston Inc.
Foy-Johnston through its wholly owned subsidiary Cameroon Mines
is involved in enhancing exploration and mining assets through
diligent application of technical and commercial expertise for the
benefit of all stakeholders of Foy-Johnston in an efficient and
environmentally responsible manner. Cameroon Mines is a mining
explorer and producer committed to developing strategic mining
exploration and project opportunities in Gold, Precious gems, Rare
Earth Metals and Platinum Group Metals. The Company has assembled
an experienced group of individuals with broad local and
international industry knowledge. Where it will assist to build
shareholder value and help fast-track the development of its
accumulated assets Cameroon Mines will also secure the
participation and support of key strategic partners globally, who
can provide tangible benefits towards achieving the Company's
goals. The company has already acquired a portfolio of Gold and
Diamond exploration tenements in key mineral regions of
Cameroon and Central African Republic. Our website is
www.cammines.com
Forward-Looking Statements
Please be advised that statements made herein, other than
historical data, constitute forward-looking statements that involve
risks and uncertainties that could cause actual results to differ
materially from those stated or implied by such forward-looking
statements. The potential risks and uncertainties include, among
others, potential volatility in the company's stock price,
increased competition, customer acceptance of new products and
services offered by the company, and uncertainty of future revenue
and profitability and fluctuations in its quarterly operating
results. Please also be advised that the company's stock is not
currently registered with the Securities and Exchange
Commission.
Contact:
Investor Relations
E-mail: info@cammines.com
Website: www.cammines.com
SOURCE Foy-Johnston Inc.