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LOS ANGELES, Sept. 26, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brookmount Explorations, Inc. (“Brookmount”), a Nevada incorporated company (OTC “BMXI”) announced that The Company has completed acquisition of a 7 hectare property immediately adjacent to its existing facilities at the Alason area in Western Minahasa region of Sulawesi. The property, which is located in the same mineralization reef as the Company’s existing primary area, has similar ore grade characteristics to The Company’s existing properties. The Company was awarded ownership of the property by a district court after a judicial review of title which had been initiated by the previous owner of one of The Company’s existing properties. Acquisition of the additional 7 hectare property brings the Company’s acreage in the Alason area to a total of 17 hectares of high quality gold ore with average reserve grade of 2-7 grams per ton. As foreshadowed previously, The Company has retained the services of a qualified geologist to conduct a mineralization reserve review under the 43/101 standard. This reserve review, together with the USGAAP audit of The Company’s financial statements is expected to be completed by November 2018.
Brookmount conducts its gold mining and processing operations through its Indonesian subsidiary incorporated in Sulawesi Province, Republic of Indonesia, one of Asia most dynamic and rapidly expanding economies with extensive reserves of natural resources and minerals including timber, coal, gold and hydrocarbons.
Safe Harbor Statements:
Except for the historical information contained herein, certain of the matters discussed in this communication constitute “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995. Words such as “may,” “might,” “will,” “should,” “could,” “anticipate,” “estimate,” “expect,” “predict,” “project,” “future,” “potential,” “intend,” “seek to,” “plan,” “assume,” “believe,” “target,” “forecast,” “goal,” “objective,” “continue” or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed license, expected synergies, anticipated future financial and operating performance and results, including estimates of growth. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, the expected timing and likelihood of completion of the pending transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending transaction that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstance that could give rise to the termination of the negotiations, the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Brookmount’s common stock. All such factors are difficult to predict and are beyond our control. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulations.
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