SOURCE: Ruby Creek Resources, Inc.

Ruby Creek Resources, Inc.

August 02, 2011 08:55 ET

Ruby Creek's Gold Standard Acquisition Update

NEW YORK, NY--(Marketwire - Aug 2, 2011) - Ruby Creek Resources Inc. (OTCBB: RBYC), a gold exploration and mining company with operations in Tanzania, provides an update on the closing of the Gold Standard acquisition (See News Releases dated January 12, 2011 and May 24, 2011).

Ruby Creek's agreement with Gold Standard provides for the acquisition of a recently issued 10 sq km Mining License, two exploration joint ventures of 40 and 89 sq km, a Regional Environmental Report, an established mining camp and the acquisition of all Gold Standard Tanzania's mining equipment.

The Parties have agreed upon the form of final documentation for the transaction and are working to obtain the necessary government consents and approvals in order to sign and close.

Robert Slavik, President and CEO of Ruby Creek, said, "We recognize this extra length of time in closing the Agreement. We performed extensive due diligence thereby ensuring proper disclosure and title documentation before closing the Acquisitions. Be assured we have been very active on the ground during that phase of corporate work. Ruby Creek is on the cusp of entering an exciting new phase of the Gold Plateau Project."

About Ruby Creek Resources, Inc.
Ruby Creek Resources, Inc. ( is an 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