SOURCE: Tombstone Exploration

Tombstone Exploration

August 10, 2009 09:00 ET

Tombstone Exploration Corporation Renews Six Exploration Permits on 3,025 Acres With Arizona State Land Department

PHOENIX, AZ--(Marketwire - August 10, 2009) - Tombstone Exploration Corporation (OTCBB: TMBXF) announced today the Company has renewed six exploration permits totaling 3,025 acres with the Arizona State Land Department. These permits include Sections 7, 8, 16, 18, and 19 in Township 20 South, Range 22 East, and Section 7 in Township 20 South, Range 23 East. Sections 7, 8, 18 and 19 are all contiguous and to the west of the main BLM parcels. Section 16 is in the center of TMBXF's land holdings and contains the State of Maine mine, Bonanza, Free Coinage and several other past producing mines with substantial promising historical data.

Section 7 Township 20 South, Range 23 East is to the east of Tombstone in the main Tombstone Mining District and contains fault contacts of Gila Conglomerate with the Bisbee formation. This area contains anomalous values of copper in mesquite ash found by a biogeochemical study done in 1974 by Roger Newell.

Alan Brown, President and CEO of Tombstone Exploration, remarked, "We are excited with the acreage that we have and the prospects for the future, particularly in light of rising gold, silver, and copper prices. We look forward to further drilling and completing a strategic development program for our acreage."

The management of TMBXF is encouraged with the continuing price increase of silver, gold and copper from the lows of December to their current prices. In December, the price of Silver was less than $10.00/oz and Copper was less than $1.50/lb. On August 7, 2009, Silver closed at $14.55 and Copper closed at $2.77. To find more information regarding these increases from December 2008 to August 2009, please view www.kitco.com.

Tombstone Exploration Corporation (TMBXF) is focused primarily on exploration and development of mineral resources. At the completion of the feasibility study, the Company will then consider joint venture mining or some other scenario that would eventually expedite a mining operation on the Tombstone property. More often in these scenarios, the Company would become subject to take over offers based on a positive economic feasibility study. The Company understands that the discovery to feasibility phase generally offers the best return on investment to shareholders. Tombstone Exploration Corporation has the mineral rights to approximately 11,500 acres of historical mining land in the areas around Tombstone, Arizona and is now the largest landholder in the Tombstone Mining District. Through expansion, the Company will acquire new properties. For more information on Tombstone Exploration Corporation, please visit www.tombstonemining.com.

FORWARD-LOOKING STATEMENTS

Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements are estimates only, as the Company has not completed the preparation of its financial statements for those periods, nor has its auditor completed the audit of those results. Actual revenue may differ materially from those anticipated in this press release. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Tombstone Exploration Corporation's ability to obtain additional financing. Tombstone Exploration Corporation undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Tombstone Exploration Corporation's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Tombstone Exploration Corporation's success are more fully disclosed in Tombstone Exploration Corporation's most recent public filings with the U.S. Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Tombstone Exploration Corporation
    Alan M. Brown
    President
    Email Contact
    480-305-4507

    Investor Relations:
    The Eversull Group, Inc.
    Jack Eversull
    President
    972-378-7917
    972-378-7981 (fax)
    Email Contact