SOURCE: Plateau Mineral Development, Inc.

May 04, 2011 08:53 ET

Plateau Mineral Completes Joint Venture to Develop Proven Gold and Silver Property: $1 Billion Production Anticipated

NEW YORK, NY--(Marketwire - May 4, 2011) - Plateau Mineral Development, Inc ("Plateau Metals"). (PINKSHEETS: PMDP) announced today that it has executed a Joint Venture Commitment Agreement with Homestead Gold Tonapah LLC, a subsidiary of Homestead Gold and Silver Corp to develop Homestead's stake in the St. Kevin Mine located near Leadville, Colorado.

The Agreement calls for a comprehensive 2 year drilling program on the site that will that will extended the proven gold and silver reserves tenfold valuing the resource at approximately $1 billion at today's prices.

The Saint Kevin Mine is registered under the claim name St. Kevin, claim number 3364 and covers 10.33 net acres. It was discovered in 1883 and is located approximately 7 miles northwest of Leadville, Colorado and 3346 meters above sea level. The site was initially operated continuously for 10 years and several times after that period.

The Company expects to make further details available regarding the Joint Venture and drilling program as the schedules timetables are finalized.

The Company believes the international demand for precious metal, combined with the worldwide fear of the declining dollar, will combine to create strong and rapid growth for the company across all its operations.

ABOUT PLATEAU METALS

Plateau Metals provides precious metal trading, shipping, production, transaction underwriting, and related services. Plateau operates across the world through its agents and offers service to multiple jurisdictions. Plateau offers complete solutions to buyers and sellers of precious metals that include storage, shipping, and transaction underwriting and arbitrage.

Plateau also acquires, develops, integrates and operates strategically aligned precious metal assets in worldwide markets where expansion is planned through additional investments to support organic growth; thereby providing significant revenue, and equity growth.

The company's operations are distributed across multiple international time zones with executives and agents located in client-appropriate locales. The company's website is www.plateaumetals.com .

Safe Harbor Statement:

This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives and goals of the Company management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include but are not limited to risks and uncertainties associated with the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.

Contact Information

  • CONTACT:
    Plateau Metals
    Investor Relations
    New York: 1.917.463.3364
    London: +(44) (0)20 337 17122
    Fax: +(44) (0)208 338 0655
    info@plateaumetals.com