SOURCE: Osceola Gold, Inc.

Osceola Gold, Inc.

October 12, 2015 09:28 ET

Osceola Gold, Inc. Forges Ahead in Preparation for Winter Excavation

Production Escalates Upon Fulfillment of Government Regulatory Obligation

STEUBENVILLE, OH--(Marketwired - Oct 12, 2015) - Osceola Gold Inc. (OTC PINK: PYHH) is pleased to announce that the Company has initiated the groundwork necessary to ramp up processing efforts at the MAV 5-G mining operation upon delivery of the deRocker, the Company's custom made state-of-the-art processing equipment. This will give Osceola Gold, Inc. the distinct advantage of being prepared to run the operation productively through the most treacherous of seasons.

In a boost to Osceola Gold's anticipated plan of action, upon solidification of all government regulations, the Company has initiated an aggressive preparation strategy that has positioned the operation to leap ahead of schedule. Thus far, new liner and pumps are equipped for installation, and all kitchen equipment has been purchased and is ready to install. As the set up process continues, Osceola Gold is concluding the necessary testing for MAV 5-G to obtain the 43101 and certify the Company's in ground assets.

"This strategy, that we have determined as the best course of action, will give us a valuable advantage in that it will enable us to be ready for the upcoming season and its challenges. We are now pleased to be running ahead of schedule, and that empowers us to effectively organize for a successful quarter," stated Christopher Tarquinio, Chief Executive Officer, Osceola Gold, Inc.

In a recent announcement, the Company disclosed that Osceola Gold had successfully solidified all government regulations for its MAV 5-G mining operation, and reported that the Company's cutting edge specifically produced processing equipment is now approximately 95% completed. Osceola Gold anticipates delivery of the new equipment within a few weeks. The Company is set to initiate processing immediately upon delivery.

The Company's state of the Art processing equipment has been exclusively designed and assembled by RMS Ross. The robust processing equipment, appropriately titled the deRocker, is being constructed specifically for the distinct demands of the Osceola gold claims. The equipment is capable in that environment of processing in the range of 500 tons per hour.

The Company recently announced that the required reclamation bond to the Bureau of Land Management (BLM) of $476,500 had been paid for the right to proceed with operations and begin processing. Osceola has also completed all requirements necessary to be in full compliance with the Nevada Department of Environmental Protection (NDEP).

Geological reports prepared by Skookum Geological places the value of MAV G at $300-500 million. Historical reports have an average value to a FALSE bedrock at $132.00 per cubic yard.

The Company has applied for a corporate name and symbol change. As Finra concludes due process yielding a final approval, the new name and symbol are expected to go immediately into effect.

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.

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Contact Information

  • For Investor Relations Contact:

    Osceola Gold Inc.
    740- 275-4227