ASPA Gold Corp. Now in Very Advanced Negotiations to Acquire Additional Gold Properties
06 Abril 2011 - 6:00AM
Marketwired
ASPA Gold Corp. (OTCBB: RENS) confirmed on March 28, 2011 that it
was in negotiations to acquire several additional Gold Properties.
One of the potential acquisitions is a Gold Property which has
dumps and tailings with a gross profit potential worth in excess of
US$40 million. The Company is expected to complete upon this
acquisition by late next week. A portable and removable Mill
costing no more than US$1 million would need to be erected and
installed on this site to process the Ore from this property.
The Company confirms that its Management is of the opinion that
the dumps and tailings at its Oatman Gold Property have the
potential to produce a gross profit in excess of US$50 million. At
the current gold price which is now trading at a new all time high,
these valuations will significantly higher as we had calculated all
of the Gross Profit Potentials at a gold price of US$1,400/oz.
ASPA Gold Corp.'s Management plans to utilize the future cash
flows, totaling no less than US$90 million at today's Gold Prices
from the extraction of its dumps and tailings which would fund the
in-ground mining and production at its existing Gold properties.
The Company would in all likelihood require limited funding to
commence this extraction process at the Oatman Properties given the
very close proximity of the Oatman Properties to an operational
Mill, should its Owner be agreeable to process ore for the
company.
The rationale for further acquisitions would be to position ASPA
Gold Corp. as a premier Junior Gold Exploration Company with world
class gold reserves. These companies are in high demand in the
current gold boom as buy out targets by major gold producers and
are highly favored by the investment community.
Management is not contemplating the issuance of shares of its
Common Stock to fund any of these acquisitions given the
substantial discount at which it trades and will be utilizing new
classes of restricted Preferred Stock.
About ASPA Gold Corp.: ASPA Gold Corp. is an emerging U.S. based
Gold Mining and Exploration Company focused on an aggressive
development and production plan for its wholly owned claims and
mines situated on over 3,600 acres and compromising of 44 claims
and 22 historic Gold Mines located in the historic Oatman mining
district of northwest Arizona. The Oatman district is a well known
gold producing area in the heart of the famous Walker Lane Gold
Trend which, before the shutdown of operations in WWII, produced
more than 3.8 million tons of ore and 2.2 million ounces of gold.
ASPA Gold Corp. is committed to the rapid extraction from the
extensive tailings and dumps and evaluating the in-ground
mineralization which is prolific on the company's properties. ASPA
Gold Corp. is a North American Gold & Minerals Fund
(PINKSHEETS: NMGL) Group Company. North American Gold &
Minerals Fund owns 71.38% of the outstanding shares of ASPA Gold
Corp. Common Stock.
Forward-Looking Statements: The information contained herein
regarding risks and uncertainties, which may differ materially from
those set forth in these statements, in addition to the economic,
competitive, governmental, technological and other factors,
constitutes a "forward-looking statement" within the meaning of
Section 27A of the Securities Act of 1933, as amended, Section 21E
of the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995 and is subject to the safe
harbors created thereby. While ASPA Gold Corp. believes that the
assumptions underlying such forward-looking information are
reasonable, any of the assumptions could prove inaccurate and,
therefore, there can be no assurance that the forward-looking
information will prove to be accurate. Accordingly, there may be
differences between the actual results and the predicted results,
and actual results may be materially higher or lower than any of
those indicated in the forward-looking information contained
herein.
Contact: ASPA GOLD CORP. Ronald Y. Lowenthal President
Telephone: (760) 660-4804 E Mail: Email Contact Twitter:
www.twitter.com/aspagold Investor Relations Contact: Global Media
and Corporate Relations David King Telephone: (407) 403-6670 E
Mail: Email Contact WEB SITE: www.aspagoldcorp.com
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