EL CAPITAN PRECIOUS METALS, INC. El Capitan Precious Metals, Inc. (OTCBB: ECPN) announced today that it has successfully completed the assembly and testing of the AuraSource Heavy Metals Separation System at the New Mexico mine site. When mining operations commence, the sale of the tailings will mark the Company’s transition from an exploration company to an operating mining company.
The Company also reported that it is in active negotiations with a buyer for the tailings—the precious-metals-rich concentrates—that are created when ore is processed via the Heavy Metals Separation System. Once a new contract is in place for the sale of the precious-metals concentrates, and coupled with the existing contract for the sale of iron ore, El Capitan will have established itself as a sustainable and profitable mining company.
ECPN Board Chairman John F. Stapleton stated, “These are exciting times for the Company and its shareholders as we complete significant steps in our strategic plan.”
Stapleton confirmed that the Company is in the final stages of obtaining its amended and expanded mining operations permits from the state of New Mexico.
Chuck Mottley, El Capitan President and CEO, added, “These new and positive activities at the El Capitan site make a huge statement in terms of the asset value of the El Capitan property and it is gratifying to see a very bright light, at long last, at the end of a tunnel that represents decades of exploration, testing, and development of initial mining operations on behalf of our shareholders.”
As announced earlier this month, the Annual Meeting of the El Capitan Shareholders will be held on September 25, 2014 in Scottsdale, Arizona.
About El Capitan Precious Metals, Inc.: El Capitan Precious Metals, Inc. is an exploration stage precious minerals company based in Scottsdale, Arizona that is principally engaged in the exploration of precious metals and other minerals. The Company’s primary asset is its wholly owned subsidiary El Capitan, Ltd., an Arizona corporation, which holds the 100% equity interest in the El Capitan property located near Capitan, New Mexico. www.elcapitanpmi.com
Forward-Looking Safe Harbor Statement:
The statements included in this press release concerning predictions of economic performance and management’s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding the expected completion, timing and results of metallurgical testing, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and expectations with respect to the engaging in strategic transactions. All of such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Specifically, there can be no assurance regarding the timing and terms of any transaction involving the Company or its El Capitan property, or that such a transaction will be completed at all. In addition, there can be no assurance that periodic updates to the Company’s geological technical reports will support the Company’s prior claims regarding the metallurgical value and make-up of the ore on the New Mexico property. Additional risks and uncertainties affecting the Company include, but are not limited to, the possibility that future exploration, development, testing or mining results will not be consistent with past results and/or the Company’s expectations; discrepancies between different types of testing methods, some or all of which may not be industry standard; the ability to mine precious and other minerals on a cost effective basis; the Company’s ability to successfully complete contracts for the sale of its products; fluctuations in world market prices for the Company’s products; the Company’s ability to obtain and maintain regulatory approvals; the Company’s ability to obtain financing for continued operations and/or the commencement of mining activities on satisfactory terms; the Company’s ability to enter into and meet all the conditions to consummate contracts to sell its mining properties that it chooses to list for sale; and other risks and uncertainties described in the Company’s filings from time to time with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
