SOURCE: Ruby Creek Resources, Inc.

Ruby Creek Resources, Inc.

October 10, 2011 09:11 ET

Ruby Creek Receives First Mining License

NEW YORK, NY--(Marketwire - Oct 10, 2011) - Ruby Creek Resources, Inc. (OTCBB: RBYC), a gold exploration and mining company with operations in Tanzania, is providing the following update on the Gold Standard transaction.

Ruby Creek has received confirmation of the transfer of control of Mining License ML 409/2010 issued September 21, 2010 to Gold Standard Tanzania Limited to Ruby Creek Resources, Inc. The Minister of the Energy and Minerals of Tanzania, the Honourable William Mganga Ngeleja approved the transfer of 95% ownership of Gold Standard Tanzania to Ruby Creek. This transfer became effective as of September 16, 2011. The completion of this transfer was the final condition necessary for Ruby Creek to proceed to close the Gold Standard transaction. Ruby Creek will make a public release upon completion of this formality.

Robert Slavik, President and CEO of Ruby Creek, commented, "We have just received confirmation that we have our first Mining License. Ownership and control of the Gold Standard Mining License has been transferred to Ruby Creek. It's another step for us, and a big one. Time to start mining gold."

About Ruby Creek Resources, Inc.
Ruby Creek Resources, Inc. (www.rubycreekresources.com) is a gold exploration and mining company. Ruby Creek operates in Tanzania through its subsidiaries, Ruby Creek Gold (Tanzania) Limited and Ruby Creek Resources (Tanzania) Limited. Ruby Creek is the operator of the Tanzania Gold Plateau Project, establishing operations and infrastructure, along with the permitting process in support of the full development and commencement of gold mining operations on the Project.

Forward-Looking Statements
This news release may include certain forward-looking statements. All statements, other than statements of historical fact, included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. This notice expressly qualifies all forward-looking statements in this release. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors, which may be identified, from time to time in the Company's public announcements.

On behalf of Ruby Creek Resources, Inc.

Robert Slavik
President and CEO

Contact Information

  • For Further Information Contact:
    Toby Hansen
    Corporate Communications
    (212) 679-5711 ext 310
    Email Contact