SOURCE: Gold Mining USA Inc.
SACRAMENTO, CA--(Marketwired - Jan 31, 2014) - Gold Mining USA Inc. (OTC Pink: GMUI) - The Company had announced the acquisition of Bullfrog Mine in August 2013. With our goal of acquiring five mines by the end of 2013, the company has achieved more with Preacher Mine holding 10 mine claims. The Bullfrog Mine is a 40 acre patented mill site in Beatty County Nevada. Nestled in the Bullfrog Hills, the site is 120 miles northwest of Las Vegas and close to the famous Barrick Bullfrog open pit mine. Key co-ordinates are T12S R46E Sec.9 N1/2 SW1/4 NE1/4 M.D.M.
President Maurice Byrne states, "The Geo tech team that have been assigned to validate and substantiate all the critical factors in acquiring new properties have found all the current and historical data match our key acquisition requirements. The property rests in a strategic location with full access to water, power, sewer, paved road and amenities. More importantly, we have identified a preponderance of ore deposit reserves and unique rare earths."
VP Brian Jenkins says "ALS Global have identified various tests and analytical reports that have allowed our geologists to begin a comprehensive feasibility study and start preparing the NI 43-101 disclosure statement. We have also purchased brand new surveying equipment that is of the highest known technology to ascertain our mineral reserves at a much faster rate than we have ever had access to in the past."
Land Holdings: 3 federal lode claims, 5 major past producing mines, and several gold prospects. Barrack produced just less than 3 million ounces of gold until operations ceased in 1995 ... since the closure there have been a large number of gold exploration projects in the Bullfrog mining district.
At the peak of the construction phase, the mine employed 540 workers. To accommodate them, Beatty added mobile home parks and a temporary camp housing 300 people. As a consequence, the town's population rose from about 1,000 in 1980 to between 1,500 and 2,000 by the end of 1990.
Forward Looking Statements
This news release contains forward-looking statements made by Gold Mining USA, INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.