SOURCE: Osceola Gold Inc.

Osceola Gold Inc.

August 05, 2015 09:15 ET

Osceola Gold Prepares to Launch Mining Operations in the Advantageous Osceola Mining District

Company Pays Bond of $476,500 to Bureau of Land Management for Right to Proceed With Operations and Begin Processing

STEUBENVILLE, OH--(Marketwired - Aug 5, 2015) - Osceola Gold Incorporated (OTC PINK: PYHH) is pleased to announce that the Company has completed payment of the necessary bond that enables the Company to move forward with the mining operation.

As a result of the mining taking place on government land, Osceola Gold Inc. was required to pay a reclamation bond to the Bureau of Land Management (BLM) of $476,500. The funding of this bond has now given the Company the authority to commence production on the property.

Osceola has also completed all requirements necessary to be in full compliance with the Nevada Department of Environmental Protection (NDEP), and is sending the Management team to Osceola for the initiation of Operations, authorized by the Bureau of Land Management.

"We are very excited to be moving forward. We have worked hard to get to this point, and look forward with great anticipation to what we will be able to soon report. Shareholders will be kept fully updated," stated Chris Tarquino, Chief Executive Officer, Osceola Gold Inc.

The Company recently announced the completion of a Mining Rights Stock Purchase Agreement Incident to Reorganization with Osceola Gold Incorporated. Having commenced trading as Osceola Gold Incorporated, the Company has now emerged as a gold mining operation focused in the famous Osceola Mining District of White Pine County, Nevada. Osceola Gold Inc. 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.

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. All permits and bonds have been put into place for the mobilization of this project.

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 in particular, the placer deposits that remain. For more information visit: http://www.nbmg.unr.edu/

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.

Contact Information

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