All Grade Mining, Inc. signed a letter of intent to acquire Jose Del Transito.

All Grade Mining Inc. is a development-stage company focused on the extraction of iron ore and copper from mines located in the Republic of Chile. The Company owns the Salitrosa Iron Ore Mine. The Salitrosa mine is located 28 kilometers from Chanaral and 60 kilometers from the Caldera port. It comprises of an updated 741 hectares spanning 24 square kilometers with an estimated iron ore reserve of over 40 million metric tons based on magnometric and geological studies done on the property. The Company expects to bring production up to 150,000 Metric Tons monthly. The property is comprised of 23 concessions and it is within 18 km of a national railway and easily connectable by short line spur. The Salitrosa project would involve an open pit mine and a dry magnetic concentration plant for the production of 200,000 tons/month of iron ore concentrates with an average grade of 63.5%.