SOURCE: Crowne Ventures, Inc.

August 23, 2011 16:32 ET

Crowne Ventures, Inc. Signs Letter of Intent for Gold Mine Claims

LAS VEGAS, NV--(Marketwire - Aug 23, 2011) - CROWNE VENTURES, INC. (PINKSHEETS: CRWV) is pleased to announce that Mr. Dane Peterson, President of World Investments of Mexico (WIM), has signed a letter of intent with Crowne Ventures to further explore and produce its Gallo de Oro Property, located in the Tecuala Region in Nayarit, Mexico.

The Gallo de Oro property is a hard rock intrusion that is heavily mineralized and surrounded by contiguous properties layered in loose Silicified breccias where no bedrock is exposed. WIM has expended significant exploration funds over the past 6 years exploring and developing the Gallo de Oro Property that has resulted in a strong understanding of the geology and how it relates to adjacent production district.

Through WIMs exploration, and testing, they have discovered not only significant gold and silver deposits, but significant levels of rare earth elements. Currently WIM is capable of test production of up to 10 tons of ore per day with custom constructed equipment installed at a secured location. Simplified assay and lab facilities have been installed at this location as well.

The Gallo de Oro Mineral Deposit is located in the State of Nayarit, Mexico and is considered a widely mineralized area and identified as a major deposit of gold, silver, and other minerals. It has been explored and is currently successfully mined by several known mining and geological institutions.

WIM is a wholly foreign owned Mexican company established in 1995. Mr. Peterson has been actively engaged in the research, testing, and development of mining claims across various States in Mexico since the early 90's.

Mr. Peterson represents that the Gallo de Oro claim covered in the (LOI) agreement, has the upside potential of further developing into a larger scale producing gold and silver mine within a reasonably short period of time.

Mr. Peterson commented, "The Gallo de Oro was my late father's dream for the perfect mining concession. His field analysis led to the acquisition. Both of us felt that this claim would develop into an outstanding gold producer, and recent events lead me to believe we have made a wise choice."

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

Contact Information

  • For Further Information Contact:

    Investor Relations
    Crowne Ventures
    310.461.3703
    www.crownemining.com