VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 23, 2013) - Editors note: There are 4 photos accompanying this press release.
Northern Vertex Mining Corp. (the "Company") (TSX VENTURE:NEE) is pleased to announce that the Governor of Arizona, the Honorable Janice K. Brewer, marked the official opening of the Moss Mine Reactivation Project Pilot Plant during a ribbon cutting ceremony held in Bullhead City, Arizona on August 14, 2013. Marking the official opening was the announcement that significant development milestones have now been reached on the Phase I - Pilot Plant for the Moss Mine Gold-Silver Project located in Mohave County, Oatman Mining District, NW Arizona.
Official ribbon cutting at the Golden Vertex office in Bullhead City, Arizona: http://media3.marketwire.com/docs/1nee.jpg
L to R: Mayor Jack Hakim, Bullhead City Mayor, Ken Berry, Chairman Northern Vertex Mining Corp., Governor Janice K. Brewer, Arizona Governor, Dick Whittington, CEO Northern Vertex Mining Corp., Joe Hart, Arizona State Mining Inspector
Governor Brewer, who took time in her busy schedule to attend Northern Vertex's Moss Mine ribbon cutting ceremony and a luncheon that followed in her honor, applauded Northern Vertex and its US subsidiary, Golden Vertex Corp., for playing an important role in Arizona's continued increase in economic development and said that the Moss Project was "a very significant addition" to the community of Bullhead City. The ceremony and luncheon that followed were well attended by the citizens of Bullhead City, Mohave County, and by other representatives from the state of Arizona.
The following milestones have been achieved at the Moss Mine site, located approximately 15 minutes from Bullhead City:
- Construction on all major items for Phase I - Pilot Plant are essentially complete
- Operations are in full swing with the focus on the completion of mining, crushing, agglomerating and stacking operations for the 90,000 tonnes contemplated in the Preliminary Economic Assessment
- Leaching of the stacked mineralized material is also underway and will continue for the next 9-12 months with continual sampling and assaying of the leached material being performed
Dick Whittington, CEO and President of Northern Vertex Mining Corp., said, "We are very honored that Governor Brewer is so supportive of the Moss Mine Reactivation Project. We hope the Moss Mine is, and will continue to be, an important contributor to the local economy for many years to come. It is particularly gratifying to have been able to achieve such significant development milestones in such a short period of time."
Governor Brewer addresses large audience at official ribbon cutting ceremony: http://media3.marketwire.com/docs/2nee.jpg
Bullhead City Mayor, Jack Hakim, introducing Governor Brewer at a luncheon following the official ribbon cutting ceremony: http://media3.marketwire.com/docs/3nee.jpg
Northern Vertex CEO, Dick Whittington, presenting ceremonial plaque to Governor Brewer: http://media3.marketwire.com/docs/4nee.jpg
The foregoing technical information contained in this news release has also been reviewed and verified by Mr. Joseph Bardswich, P.Eng., General Manager - Moss Project, and a Qualified Person ("QP") for the purpose of National Instrument 43-101 (Disclosure Standards for Mineral Projects).
Northern Vertex has the right to earn a 70% interest in the Moss Gold-Silver Property located in Mohave County, Arizona from Patriot Gold Corp. Subsequent to the Northern Vertex earn-in, financing of the project will be on a 70:30 proportional basis. The Company paid $500,000 in an upfront cash payment, and that, along with an $8 million work expenditure requirement and the preparation of a feasibility study (as defined in the earn-in agreement) are conditions of the 70% earn-in.
About Northern Vertex:
Northern Vertex Mining Corp. is a Canadian based exploration and mining company focused on the reactivation of the Moss Mine Gold-Silver Project located in NW Arizona, USA. The Moss gold-Silver Project is an epithermal, low sulphidation quartz-calcite vein and stockwork system which extends over a strike length of 1,400 meters and has been drill tested to depths of 200 meters vertically. It is a potential heap leach, open pit project being advanced under a three phase business plan, specifically designed to ensure that technical, economic, permitting and funding requirements are met prior to each phase proceeding. The Company's management comprises an experienced management team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on working effectively and respectfully with our stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.
ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note About Forward Looking Information
This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analysis, including the completion of a feasibility study. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulation.
Cautionary Note to U.S. Investors:
This news release uses the terms "Measured", "Indicated", and "Inferred" resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. U.S. Investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.
2013 number 17