North Springs Resources Corp.
OTC Bulletin Board : NSRS

North Springs Resources Corp.

September 14, 2011 09:00 ET

North Springs Resources Acquires Gold Property in Prestigious Mineral Ridge Mining District, Nevada, USA

LAS VEGAS, NEVADA--(Marketwire - Sept. 14, 2011) - North Springs Resources Corp. (OTCBB:NSRS) ("The Company", "North Springs") is pleased to announce that it has recently acquired the mineral rights to the North Springs Gold Property, which is located in the prestigious Mineral Ridge Mining District, Esmeralda County, Nevada USA. The decision to acquire this property was a strategic decision by the Management of North Springs Resources to create a corporate identity and direction.

"The North Springs Gold Property is located in one of the premiere mining regions in Nevada and we are committed to exploring the potential of this property," stated Harry Lappa, President of North Springs Resources. "The North Springs Gold Project currently has well defined drill targets based on geologic mapping and surface sampling; presently demonstrating excellent potential to discover a world-class gold deposit. Management intends on aggressively growing the company, and with the recent increase in gold prices, we want to build a strong gold exploration company around properties with a strong possibility for a significant gold discovery. We believe that this acquisition is just the beginning for North Springs Resources."

The North Springs Gold Project is located about 10 miles northwest of Silver Peak, Nevada on the west side of Mineral Ridge. The land package consists of approximately 36 unpatented federal lode mining claims that cover two separate areas, the Roadrunner Block and the Coyote Summit Block. The geology at North Springs is similar to that of the nearby Mineral Ridge Mine, and indeed, may actually be a continuation of the same gently-dipping, sheet-like body which hosts gold mineralization at the Mineral Ridge Mine.

Both the North Springs Gold Property and the Mineral Ridge deposits are situated along a regional northwest trending, large anticline known as the Mineral Ridge Metamorphic Core Complex. This complex contains extensive high-grade gold veins (52 miles of underground workings on low-angle veins) and stacked, low angle, shear zones which has been open pit mined in several deposits. The Mineral Ridge deposits contain a current resource of 500,000 ounces gold. The North Springs Gold Property occupies very similar geology, alteration and mineralization, geochemistry and structural setting to the Mineral Ridge deposits, though there is no resource estimate known at this time. Sampling to date has identified gold mineralization up to 0.8 ounces per ton from surface workings. The North Springs Gold Project contains several untested gold targets that include open-pit, disseminated mineralization and high-grade shear zones and feeder veins, such as those that have been mined by several mining companies at the nearby Mineral Ridge deposits.

For additional information, please visit www.northspringsresources.com.

THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE", "ANTICIPATE", "BELIEVE", "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH NATURAL RESOURCE EXPLORATION AND DEVELOPMENT AND NEEDS FOR FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL REPORT ON FORM 10-K AND ON FORM 10-Q AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.

Harry Lappa, President

Contact Information

  • North Springs Resources Corp.
    Harry Lappa
    President
    1-775-398-3078