North Springs Resources Funds Next Stage Exploration Budget for Imperial Property-Current Exploration Program Encounters Thic...
21 2월 2012 - 11:00PM
Marketwired
North Springs Resources Corp. (OTCBB:NSRS)(PINKSHEETS:NSRS) (the
"Company" or "North Springs") is pleased to announce that today it
will fund the remaining $200,000 for the phase one exploration
budget at the Company's Imperial Gold Silver Property in Nevada
(the "Imperial Property").
"The Imperial Property is a high-priority for us and quickly
funding its next stage of exploration is part of our commitment to
maintain the project's momentum into drilling after the conclusion
of the current sampling program," stated Harry Lappa, President of
North Springs. "To date, mapping at the Imperial Target indicates
multiple parallel veins trending west-northwest across the zone.
These veins vary in thicknesses from a just few feet to nearly 20
feet wide. Various surface samples were taken from the outcropped
veins and submitted to an independent lab for testing. We expect
results from the new Imperial samples within two weeks and drilling
to commence within 6 to 10 weeks."
The phase one exploration plan for the Imperial Property
outlines a $250,000 program that will include surface sampling,
underground sampling, geochemical studies, and 3D mapping, followed
by a multi-target reverse-circulation drill program. North Springs
has previously financed $50,000 in exploration expenditures at the
Imperial Property and anticipates funding the remaining $200,000
exploration budget by the close of business today.
Mr. Lappa continued, "This is shaping up to be an incredibly
active week for our Company. Not only do we expect to fund drilling
at the Imperial Property right away, but we also expect to receive
the first batch of Goldstar drilling results back from the lab. In
addition, we also anticipate releasing more details about our
proposed acquisition in four producing gold properties in Mexico,
including historic production data and inferred gold reserve
estimates. I look forward to announcing the Goldstar results and
the Mexico acquisition update later this week."
Further updates regarding the Imperial Gold Silver Property and
other North Springs projects will be made as additional information
becomes available.
About North Springs Resources Corp.
North Springs Resources Corp. is focused on the evaluation,
acquisition, exploration, and development of mineral resource
properties. The Company is led by a skilled and experienced
management team and independent consulting geologists with many
years of experience. North Springs is committed to creating value
for its shareholders by advancing its current holdings and by
acquiring new properties with significant potential.
For additional information, please visit
www.northspringsresources.com.
Harry Lappa, President
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT
TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS
NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING
STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS,
EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE. EXCEPT FOR THE
HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS
NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO
CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO
DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR
ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS
THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE
PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE",
"ANTICIPATE", "BELIEVE", "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS
ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE
COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH
NATURAL RESOURCE EXPLORATION AND DEVELOPMENT AND NEEDS FOR FUNDING
AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL
REPORT ON FORM 10-K AND ON FORM 10-Q AND FROM TIME-TO-TIME IN OTHER
PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS
INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS,
COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE
COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND
DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE
COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL
ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING
STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE
COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING
STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD
DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS.
ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS
AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE
CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR
INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL
OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE
RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM
TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE
COMMISSION.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY
WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. FINRA, THE SEC AND
THE OTCBB NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS
NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO
SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY
SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER,
SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR
QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH
JURISDICTION.
Contacts: LiveCall Investor Relations for North Springs
Resources Corp. Gerry Belanger, Investor Contact (201)
984-5646info@northspringsresources.com
www.northspringsresources.com
North Springs Resources (CE) (USOTC:NSRS)
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