SOURCE: Bayport International Holdings, Inc.
LAS VEGAS, NV--(Marketwire - Oct 25, 2012) - Bayport International Holdings, Inc. (PINKSHEETS: EXTO) is pleased to announce the culmination of the first round of comprehensive testing and assay results. As our shareholders are well aware, Bayport has filed with the Bureau of Land Management (BLM) and State of Utah, Department of Natural Resources, Division of Oil, Gas and Mining to commence small mining operations on the first few of our mining claims. Not all claims have been tested and assayed. This will come in the next testing phase.
Assay results from Auric Metallurgical Laboratories are now in hand. These results are all we could have hoped for. The first of the claims tested shows quantities of gold at 0.279 troy ounces per ton and Silver at 0.267 troy ounces per ton. While the pricing of gold significantly outweighs that of silver, it is nice to have both present. At today's prices this equates nearly $400 per ton.
Assuming in the beginning stages that we move just twenty five (25) tons of earth per hour (one ton is approximately one scoop with the front end of a standard backhoe), working a ten hour workday and just 180 days per year due to inclement weather and mechanical difficulties would result in gross income of $18,000,000 per year, from just one claim (nearly 2 1/2 cents per share -- income & 20 cents per share valuation).
In addition to the gold and silver, potentially profitable levels of magnetite (iron ore), palladium and other rare earth elements have been shown to exist in this claim.
Bayport will next determine methods to increase gross income and minimize expenditures. Information on the production phase will be forthcoming in a subsequent release.
Bayport International Holdings, Inc.
About Bayport International Holdings, Inc.
Bayport International Holdings, Inc. is a company formed to exploit the various precious minerals in the U.S. to acquaint the public with practical investment opportunities in strategic metals and minerals. Bayport International Holdings, Inc. is primarily focused on precious metals, rare earth, and oil and gas ventures. Bayport International Holdings, Inc. is developing mining and oil and gas properties with economic potential with the aim of bringing such properties to commercial production. The company's portfolio of properties is primarily located in the prolific western USA in Utah and Texas.
Cautionary Note Regarding Forward-Looking Statements
This press release and the statements of representatives of Bayport International Holdings, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, Bayport's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.