SOURCE: Osceola Gold, Inc.

Osceola Gold, Inc.

February 02, 2017 08:00 ET

Osceola Gold Announces Commencement of Operations on the MAV-G Claim

Defying the Odds, the Company's Determined Management Team Forges Ahead to Produce Results with Winter Production Run

STEUBENVILLE, OH--(Marketwired - Feb 2, 2017) - Osceola Gold, Inc. (OTC PINK: PYHH) is pleased to announce that having taken delivery of the remainder of its heavy equipment, having updated all permits for authorized operations, and, in spite of winter conditions, Osceola Gold, Inc. has conducted a successful soft launch of operations. Please see the Company's updated website for more information and images of the progress of the soft launch.

In temperatures of negative 19 Fahrenheit, Management and crew geared up for the initiation of mining operations early Monday morning. The strategy upon initiation is the production up to 40 tons an hour, weather permitting. "We are very proud of our team. Their fortitude shows me that we have the right people for the job. This is only the beginning. We can't wait to be able to start reporting regular results. As we forge ahead, we intend to keep our investors fully updated as we begin to yield results," stated Christopher Tarquinio, Chief Executive Officer, Osceola Gold, Inc.

Following this soft launch, there will be an official Grand Opening scheduled for February 16.

The Company recently announced that testing had concluded at the mine with the evaluation of 22 test holes spanning the 20-acre claim, including the famous Hogum Tunnel which historically, between the years of 1910 and 1940, had produced 5 million dollars in gold, a weight equivalent to 400 million at today's prices. Osceola Gold also announced that the Company had successfully completed its advanced satellite subsurface GeoScan evaluation with results that revealed gold saturation in both target areas tested.

Mining in the Osceola District, White Pine County Nevada, was launched in the 1870s and continues to this day. Major efforts were put forth in the late 1800s, 1930s and 1970s with both lode and placer mining striking success with the removal of considerable amounts of gold. Studies conducted throughout these periods indicate economically viable amounts of gold in both the bedrock and the placer deposits that remain. For more information visit: http://www.nbmg.unr.edu/

About Osceola Gold: Osceola Gold, Inc. is a public company listed on OTC Markets (OTC PINK: PYHH). The Company was formed to pursue Gold and precious metal mining opportunities in the surrounding area in the Osceola Gold mining district, located in White Pine County, Nevada; it is approximately 29 miles southeast of Ely. In addition to these claims. Osceola Gold, Inc. is leasing the mining rights to the Mav G mining claims, which run up the middle of a large alluvial fan which runs from Mary Ann Canyon into the Spring Valley. Osceola Gold, Inc. has also obtained all required permits.

Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • For Investor Relations Contact:
    Osceola Gold, Inc.
    740-275-4227
    Osceolagoldinc.com
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