SOURCE: Tara Minerals Corp.

Tara Minerals Corp.

April 28, 2011 09:15 ET

Tara Minerals Acquires Gold, Silver, Zinc and Lead Project Close to the Don Roman Mine and Mill

CHICAGO, IL--(Marketwire - Apr 28, 2011) - Tara Minerals Corp. (OTCBB: TARM) (BERLIN: 6T3) is pleased to announce that it has entered into an agreement to acquire 100% of the La Verdes gold, silver, zinc and lead project grouping. The 2,200 hectares property consists of eight concessions 13-18 km from the Don Roman mine and mill. The concessions were being mined as late as 2010, with the extracted material grading 0.5-1.5 g/t gold, 300-600 g/t silver, 14-15% zinc, 6-8% lead, and 2.1-2.6% copper. Recent channel samples across the workings assayed similar grades. A road from the groupings, to the Don Roman mill, has also been completed. Tara now controls over 10,000 hectares in close proximity to the mill.

Tara is acquiring the grouping for $1.8 million plus applicable taxes. $1.66 million of the acquisition cost will be paid by the issuance of Tara Minerals restricted shares valued at $2 per share, with the remainder being paid in cash.

The La Verdes grouping comprises of an extensive area of hydrothermal alteration that hosts numerous precious and base metal occurrences along the western part of the Northern Sierra Madre Gold Belt. The property lies 30 km SW of the historically prolific La Reforma Pb-Zn-Ag District that is now the focus of concerted exploration by Peñoles. The grouping has 50 m of tunnels and 14 known showings of old workings. Numerous gold/silver/zinc/lead vein structures have been identified with three being well defined. These veins are approximately 1.5-8 meters wide and are comprised of 80% sulfides. The strike length of some of these structures have already been traced to a combined total of over 5 kilometers.

Mr. Francis Biscan Jr., President of Tara Minerals Corp., commented, "Material from the La Verdes grouping can be shipped directly to our Don Roman mill along the road we just completed. This increases the value proposition of the region and our Don Roman project."

Tara Minerals is currently engaged in the development of the Don Roman gold/silver/zinc/lead mine and mill. Tara Minerals has entertained a number of site visits from potential operating partners regarding a potential Joint Venture at Don Roman. Tara Minerals management will determine the most expedient approach to advancing Don Roman's near term production potential, whether by partnering with an experienced partner or by hiring a qualified operating team.

Tara Minerals is also working with its subsidiary, Adit Resources Corp., towards the completion of the Definitive Agreement with Yamana Gold Inc. that grants Yamana an option to acquire up to a 70% interest in the Picacho gold/silver project (see news release dated Feb. 2, 2011).

About Tara Minerals Corp. (http://www.TaraMinerals.com)

Tara Minerals Corp. is advancing the development of its Don Roman mine and mill, located in Choix, Mexico and completing the Definitive Agreement with Yamana Gold Inc. that grants Yamana an option to acquire up to a 70% interest in the Picacho gold/silver project. Management is focused on creating long-term shareholder value and deploying its capital to advance its projects by enhancing resources, further outlining new discoveries/targets, and acquiring additional strategic assets. Tara's strength in recognizing value early and strategy of reducing risk through a foundation of cash flow, positions it for low-risk value creation.

Contact Information

  • IR Contact:
    David Barefoot
    (888) 901-4550