Brookmount Explorations, Inc. Announces June Progress Report
LOS ANGELES, June 14, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brookmount Explorations, Inc. (OTC:BMXI) (“Brookmount”), a Nevada incorporated company, announced that the Company has acquired additional production areas totaling 1.5 hectares in its operation based in Minahasa Province, Republic of Indonesia. Preliminary drill testing of the acquired areas has shown ore grades of up to 12g/tonne, significantly higher than the Company’s existing 8 hectares of reserve with average extraction rates of 2-5g/tonne.
Combined with recent upgrading of heap leach extraction technology, including changes in the chemical mix of leaching fluid and redesign of pumping systems, processing of ore recovered from the Company’s reserve areas is expected to result in significantly higher ore extraction rates, resulting in improved operating results, in the second half of 2018.
The Board confirmed that further regular updates on operations will be made over the coming weeks including additional leach pad upgrades, further drill test results and finalization of the Company’s audit.
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.
For more information:
Brookmount Explorations, Inc.
Tel: 213.266.7661
