PHOENIX, July 11, 2011 (GLOBE NEWSWIRE) -- Silver Horn Mining Ltd. (OTCBB:SILV) is pleased to announce that the Company has acquired the Tip Top Mine in Yavapai County, AZ. Along with the "76" Mine, the Tip Top property will strengthen Silver Horn Mining's foothold in the mineral rich Bradshaw Mountains.
Tip Top produced approximately 6 Million ounces of high-grade silver between 1876 and the 1930's, according to historic data. Assays records from that time period mention an average of 360 ounces of silver per ton, with assays running as high as 2,985 ounces of silver per ton.
The company plans to initiate a work program at Tip Top consisting of sampling the ore dumps and the underground workings as well as mapping the property and assaying to identify potential drill targets in the area.
Only 12 miles from a major highway and less than 50 miles from the metropolis of Phoenix, AZ., Silver Horn Mining's Tip Top and "76" are well positioned in a historic mining district. Additionally, Yavapai County is a mining friendly jurisdiction and Arizona has a successful history of mining across the state.
Company President, Daniel Bleak, states, "We are very excited to begin a new era in the historic Tip Top Mining District. Although silver has been the main focus in the district, the area has also produced tungsten and gold. We are committed to increasing shareholder value with these strategic acquisitions and we will continue to search for other properties to add to our portfolio."
About Silver Horn Mining Ltd.
Silver Horn Mining Ltd. ("Silver Horn") is a mining and resources company focused on exploring and developing mineral resources, with an emphasis on silver. Silver Horn's corporate strength lies in its management's expertise in the natural resource industry. Silver Horn will target and acquire projects with previous production and/or exploration and work towards fully developing those projects to build core reserves and drive revenues.
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Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.