SOURCE: Osceola Gold, Inc.

Osceola Gold, Inc.

May 10, 2016 11:49 ET

Osceola Gold Begins Deploying Capital

STEUBENVILLE, OH--(Marketwired - May 10, 2016) - Osceola Gold, Inc. (f/k/a Phyhealth Corporation) (OTC PINK: PYHH) today issued a brief shareholder update. Following the previously announced first tranche of received debt financing, Osceola is pleased to report the following items have been contracted and paid for:

  • Bureau of Land Management (BLM) claim fees for 2016;
  • BLM disturbance fees for 2016;
  • Reclamation fees for 2016;
  • Bond Renewal fees for 2016; and
  • The Company has commenced construction of an operations center for use as a base for the site.

"We are quite pleased with the progress toward commencement of mining operations," stated Christopher Tarquinio, CEO of Osceola Gold. "We are now in a position to ship mining equipment as we ready the site for operations. We will keep our shareholders informed as milestones are hit."

About Osceola Gold, Inc. (f/k/a Phyhealth Corporation)

Osceola Gold, Inc. has now emerged as a gold mining operation focused in the famous Osceola Mining District of White Pine County, Nevada. The Company has retained all mineral rights for all precious metals, including gold deposits, on their leased land, an over 20 acre expanse of gold mining claims known as Mav G.

Osceola Gold Inc. has also obtained first right of refusal for production on the other Mav claims.

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 production of considerable amounts of gold. Studies conducted throughout these periods indicate economically viable amounts of gold in both the bedrock and in particular, the placer deposits that remain. For more information visit: http://www.nbmg.unr.edu/

Please follow us on Twitter- osceolagoldinc.

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

  • Investor Relations
    Osceola Gold Inc.
    740-275-4227
    Osceolagoldinc.com