SOURCE: Converge Global, Inc.
TORONTO, ON--(Marketwired - Dec 11, 2013) - Converge Global, Inc. ("The Company") (OTC Pink: CVRG) is pleased to announce that its newly acquired wholly owned subsidiary, Sintek, Inc. (CJSC - Closed Joint Stock Corporation), has licensing agreements and mining claims known as The Siberia Gold Project, located in Eastern Siberia, near Yeravninsky region, Republic of Buryatia, Russian Federation. www.sintekgold.com
The Siberia Gold Project is approximately 350 km from capital Ulan-Ude city,180 km to the north from Mogzon railway station, 65 km from the district center of the village of Sosnovo-Ozyorskoye, and 30 km from the highway Ulan-Ude, Romanovka, Chita. The Project is in Eastern Siberia, near Yeravninsky region, Republic of Buryatia, Russian Federation. The nearest town is Gunda (36 km). Electricity for the project is provided by the district PTL-10.
The Siberia Gold Project consists of reserves of placer gold, confirmed by technical and economic calculation in the following sections:
1. Placer Creek Uzultuy
Length placers 910 m, average width of 153 m, linear productivity placer-101 kg / km. Reserves of C2 category: Sands-186,000 m3, 92 kg of gold, the average content 494mg/m3; Off-balance reserves of C2 category: Sands-39,000 m3, 10 kg of gold, the average content- 266 mg/M3;
2. Placer Creek Gematitovy:
Length placers 1,204 m, average width of 162 m, linear productivity placer-132 kg / km. Reserves of C2 category: Sands-207,000 m3, 159 kg of gold, the average content 768 mg/m3;
3. Placer Creek Nezametny
Length placers 2,890 m, an average width of 66 m, linear productivity placer-48 kg / km. Reserves of C2 category: Sands-228,000 m3, 139 kg of gold, the average content 605 mg/m3.
The Company further announced that the previous acquisitions of Chefinesse, Inc. and Majestic Menu are currently being reversed to allow Management to focus primarily on the resource industry.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Converge Global, Inc. with members of its management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.