Irvine, CA, May 15, 2014 (GLOBE NEWSWIRE) -- ABOT Mining (Pink Sheets: ABOT.pk) is pleased to announce that it has entered into a binding production and processing agreement ("Processing Agreement") with Minera Manos Del Rey. S.A. DE C.V. ("Operator"), a Mexican corporation with offices at Municipo de Toliman, El Rodeo, Jalisco, Mexico, CP 49750.
ABOT Mining has agreed to provide start-up funding and supply of ore for the processing on the terms and conditions set in the Processing Agreement. The Operator has agreed to make necessary arrangements for processing, marketing and sale of the concentrate that will be extracted from the ore.
ABOT Mining plans to divert and consolidate all its Mexican resources to this Processing Unit including access to ores and tailings that have been previously announced. Commissioning and retrofitting of the Processing Unit and execution of the production plan is expected to commence before the rainy season of Nayarit, Mexico which is usually between June and October.
About the Company
ABOT is a US based mining company engaged in discovering, acquiring, developing, producing, and marketing precious and semi-precious metal properties and is currently headquartered in Irvine, California. ABOT plans to create long term shareholder value by implementing an aggressive exploration program, making new precious metals discoveries and developing mining properties with long-life and low cost operation.
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Forward-Looking Statement
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.