SOURCE: Siga Resources Inc

May 17, 2012 16:21 ET

Siga Resources Inc Announces Update on Lucky Thirteen Project

CARSON CITY, NV--(Marketwire - May 17, 2012) - Siga Resources Inc ( (OTCBB: SGAE)

President and CEO Edwin Morrow announced today that the joint venture with Big Rock Resources LTD on the Lucky 13 Placer project in Hope, BC has been amicably terminated by the terms of the JV Agreement. Siga now maintains 100% of the project.

This action has caused Siga a delay in closing the previously announced purchase of the American Hill Aggregates Ltd assets connected to the Lucky Thirteen Project. However, all parties involved fully expect the required funding to be forthcoming and are mutually cooperating in extending the time frame for the closing. Further information will be released in the near future.

Siga is working toward building a producing company and is focusing its efforts on precious metals projects in North and South America. Siga invites submissions of advanced precious metals exploration or development projects for consideration by Siga and its joint venture affiliates.

Forward-Looking Statements

You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release.

Contact Information

  • Contacts:
    Edwin Morrow
    530 577 4141

    Robert Malasec
    Chief Financial Officer
    760 607 8268
    Email: Email Contact