Salt Lake City, UT, Oct. 18, 2017 (GLOBE NEWSWIRE) -- Inception Mining Inc. (OTCQB: IMII) (“Inception” or the “Company”) is pleased to announce that it has entered into a Joint Venture Agreement with Corpus Mining and Exploration Ltd. (“Corpus Mining”), a company domiciled in Turks and Caicos. The Joint Venture will result in the formation of a new company, Corpus Gold LLC (“Corpus Gold”).
Corpus Mining will provide up to $1,000,000 in funding to Corpus Gold to fund exploration on the mineral concessions granted by the government of Honduras to Compania Minera Cerros del Sur, S.A. de C.V., Inception’s wholly-owned subsidiary with properties in the El Corpus District of the Choluteca Department of Honduras. As part of the Joint Venture Agreement, Inception will direct and supervise all exploration, drilling and evaluation initiatives on the Concession.
A six-month exploration program will commence immediately, the purpose of which will be to generate new exploration targets for drill testing, as well as development of existing prospects which include several historic Spanish workings on the Concession.
The program will include rock chip and soil sampling, trenching, microprobe analysis, drone/X-CAM surveys, Induced Polarization Resistivity surveys and geologic mapping and prospecting. Targets will be prioritized and top ranked targets will be advanced to drill-ready-status by early 2018. The 2018 drilling program will primarily be focused on testing these high priority targets. A more detailed overview of the 2017-2018 exploration program will be provided in future press releases.
The proceeds from commercialization of the Concession will be divided such that Inception will retain twenty percent (20%) of all future revenues generated.
About Inception Mining, Inc.
Inception Mining Inc., a Nevada corporation, is engaged in the acquisition, exploration, and development of gold projects in Central and North America. Inception’s core asset is the Clavo Rico gold project in Honduras, which features a heap leach facility and on-site ADR plant.
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements with respect to the potential mineralization and geological merits of the Company properties. There can be no assurance statements will prove to be accurate and actual results and future events could differ materially from anticipated in such statements.
Inception Mining Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events except as required by applicable securities legislation.