SOURCE: Gold & Silver Minerals

August 12, 2008 08:53 ET

G & S Minerals and Mayan Gold, Inc Successfully Close Milestone Strategic Cross Investment and Gold Field Development Agreement

LAS VEGAS, NV--(Marketwire - August 12, 2008) - G & S Minerals, Inc. dba Gold & Silver Minerals ("G&S," "the Company") (PINKSHEETS: GSML) (FRANKFURT: G9S), a mining company focused on developing high-quality and low-risk mineral resource and energy prospects, today announced that the Company and Mayan Gold, Inc have successfully closed their milestone Strategic Cross Investment and Gold Field Development Agreement.

Succeeding an extensive due diligence period following the initial agreement in principle as announced on January 28, 2008, both companies have executed the final agreement providing for the exchange of G&S Minerals common stock and warrants for a 100% interest in the El Transito concession. All related documents and obligations have been mutually signed and completed, and the transaction is now deemed closed.

The Company will provide further information as to the specific terms and details of the executed agreement in a subsequent announcement. G&S management and the Company Board of Directors are pleased to have completed this important agreement with Mayan Gold, Inc, and continue to seek and develop mineral and energy prospects to maximize shareholder value.

ABOUT G & S MINERALS, INC.:

G & S Minerals, Inc. (which also does business under the name "Gold & Silver Minerals") is a mining company focused on acquiring and developing high-quality, low-risk mineral resource and energy prospects. G & S Minerals is aggressively pursuing opportunities to develop working interests in mineral properties that offer a short time to production, as well as significant upside exploration potential. In addition, G & S Minerals is investigating opportunities for corporate transactions that will expand the mineral and resource portfolio. By leveraging its network of industry contacts, management expertise, and its targeted acquisitions, G & S Minerals is working to build rapid asset growth, near-term cash flow, and shareholder value. Additional information is available at G & S Minerals' website at www.gold-silverco.com.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of applicable securities laws, including statements about the Company's stock quotation and disclosure plans and actions, as well as the anticipated actions of third parties. These statements are subject to numerous assumptions and uncertainties, many of which are outside the Company's control. Statements in this document are based on information the Company believes to be reasonable, but involve significant uncertainties as to the timing and outcome of the Company's submissions and the review process at Pink OTC Markets Inc. Such uncertainties include the substance and timing of the review process, any resulting comments or questions, intervening changes in the Company's status and business, and the Company's ability to obtain and provide necessary current information to Pink OTC Markets Inc. Actual results and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Except as noted above, the Company disclaims any obligation to update such forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Information

  • Company Contact:
    G & S Minerals, Inc.
    Charles Brown
    702-943-8848