Tombstone Exploration to Recover an Estimated $50 Million of Gold in First Phase of Bonanza Mine Project

PHOENIX, Dec. 18, 2019 (GLOBE NEWSWIRE) -- Tombstone Exploration Corporation (OTCQB: TMBXF), a fully reporting company, in combination with Goldrock Resources Inc. and the Bonanza Mining Company, announced today that the permits are expecting final approval in January 2020 and once approved, this will allow the construction of the leach pad to begin on their Bonanza mining project. The initial portion of the Phase One leach pad will accommodate 500,000 tons of already mined material that have been tested to show upwards or more of 26,000 - 50,000oz of gold. This has a valuation of over $50 million USD at current market price.

Given that gold has risen 20% over the last year and is now approaching $1500, it is no surprise that investor interest in gold continues to grow worldwide. The management team at Tombstone Exploration understands the opportunity to exponentially increase shareholder value. Using modern mining techniques on properties that produced large quantities of precious metals in the 1800s, the Company feels that they are on the right track to realizing substantial profits by processing the large amount of tailings and mined rock from former mines without having the overall costs associated with building out a brand new mining operation.

As stated in the previous PR, CDM Smith Corporation has been hired as the general contractor for the Bonanza project. A meeting was held with the CDM Smith Project manager on December 6th at the Bonanza Harquahala Mine site to kick off the construction management building part of the project in anticipation of the permits being completed imminently. This meeting laid the groundwork for a strong business plan going forward on the project. Multiple future projects were also discussed.

Alan Brown, Tombstone Exploration CEO and President, stated, “We are excited about the progress that has been made and how smooth the permitting process has been. We are looking forward to begin Phase One of our largest project and bringing long term value to our shareholders. We are looking forward to seeing our long term goals become strong, highly profitable and be a very successful player in the precious metals market.”

About Tombstone Exploration Corporation

Tombstone Exploration Corporation is a gold, silver and copper exploration company based in Phoenix, Arizona. The company’s goal is to maximize shareholder value through focused exploration, testing and development of high-quality mineral targets in the prolific mineral producing areas in the Southwest United States. This goal will be achieved through the application of the best mineral exploration practices and techniques available, including the adherence to the highest possible standards of corporate responsibility, governance and conduct. 

FORWARD-LOOKING STATEMENTS

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Tombstone Exploration Corporation, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward- looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are Tombstone Exploration Corporation’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Tombstone Exploration Corporation’s filings with the Securities and Exchange Commission. 

CONTACT:

Tombstone Exploration Corporation

Alan M. Brown, President



Phone: 480-588-8920