NEW YORK, July 23, 2012 /PRNewswire/ -- Ruby Creek
Resources, Inc. (OTCQB:RBYC), a gold exploration and mining company
with operations in Tanzania,
hereby provides an operations update. Ruby Creek test mining on its GS1 mining license
area during the quarter ended May 31,
2012 yielded recovered grades which we estimate varied from
0.16 to 0.86 g/lcm (loose cubic meter) and approximately 14 ounces
of gold.
As set forth in its Quarterly Report for the period ended
May 31, 2012 on Form 10-Q, subsequent
to the end of the quarter, Ruby
Creek curtailed its mining operations in order to focus on
raising capital necessary to commence commercial production and
continue exploration activities. During its test mining and
previous exploration, Ruby Creek
identified numerous promising locations on its properties, as well
as nearby water sources necessary to support and sustain commercial
production of gold. In the event that Ruby Creek is successful in raising additional
capital, of which there can be no assurance, Ruby Creek can begin to exploit these promising
locations.
Dan Bartley, CEO said; "Test
mining produced encouraging results and over the past several
months we have built a solid foundation to prepare for production
on GS1. I am hopeful that our capital raising efforts with be
successful so as to allow for larger scale production of gold."
About Ruby Creek Resources, Inc.
Ruby Creek Resources, Inc. (www.rubycreekresources.com) is a
gold 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.
SOURCE Ruby Creek Resources, Inc.