SOURCE: ASPA Gold Corp.

March 28, 2011 08:00 ET

ASPA Gold Corp. in Negotiations to Acquire Additional Gold Properties

RANCHO MIRAGE, CA--(Marketwire - March 28, 2011) - ASPA Gold Corp. (OTCBB: RENS) confirms that it is in negotiations to acquire several additional Gold Properties.

The Company confirms that its Management is of the opinion that the dumps and tailings at its Oatman Gold Property have the potential to produce a gross profit in excess of US$50 million at current gold prices. One of the potential acquisitions is a Gold Property which has dumps and tailings with a gross profit potential worth in excess of US$40 million. 

ASPA Gold Corp.'s Management plans to utilize the future cash flows from the extraction of its dumps and tailings which would fund the in-ground mining and production at its existing Gold properties. The Company would in all likelihood require limited funding to commence this extraction process given the very close proximity of the Oatman Property to an operational Mill, should its Owner be agreeable to process ore for the company.

The rationale for further acquisitions would be to position ASPA Gold Corp. as a premier Junior Gold Exploration Company with world class gold reserves. These companies are in high demand in the current gold boom as buy out targets by major gold producers and are highly favored by the investment community. Management is not contemplating the issuance of shares of its Common Stock to fund acquisitions given the substantial discount at which it trades and is likely to use new classes of restricted Preferred Stock.

About ASPA Gold Corp.: ASPA Gold Corp. is an emerging U.S. based Gold Mining and Exploration Company focused on an aggressive development and production plan for its wholly owned claims and mines situated on over 3,600 acres and compromising of 44 claims and 22 historic Gold Mines located in the historic Oatman mining district of northwest Arizona. The Oatman district is a well known gold producing area in the heart of the famous Walker Lane Gold Trend which, before the shutdown of operations in WWII, produced more than 3.8 million tons of ore and 2.2 million ounces of gold. ASPA Gold Corp. is committed to the rapid extraction from the extensive tailings and dumps and evaluating the in-ground mineralization which is prolific on the company's properties. ASPA Gold Corp. is a North American Gold & Minerals Fund (PINKSHEETS: NMGL) Group Company. North American Gold & Minerals Fund owns 71.38% of the outstanding shares of ASPA Gold Corp. Common Stock.

Forward-Looking Statements: The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While ASPA Gold Corp. believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than any of those indicated in the forward-looking information contained herein.

Contact Information

  • CONTACTS:
    ASPA GOLD CORP.
    Ronald Y. Lowenthal
    President
    Telephone: (760) 660-4804
    E Mail: Email Contact
    Twitter: www.twitter.com/aspagold

    Investor Relations Contact:
    Global Media and Corporate Relations
    David King
    Telephone: (407) 403-6670
    E Mail: Email Contact