Bayport Corporation Announces the Acquisition of the Mineral Claim Rights Located in Utah for the WOW Property and Anticipate...
August 18 2011 - 9:45AM
Marketwired
Exit Only, Inc. (PINKSHEETS: EXTO) today announced that its
recently acquired Bayport Corporation wholly owned subsidiary,
Cosmic American Rare Earth (CARE), Inc. has acquired what the
company believes to be high in value, the mineral claim rights of
the WOW Property for 10,000,000 restricted shares. This is a placer
property which allows for a more simple process of mining to be
executed versus lode mining. The WOW Property is located in the
Salt Lake Meridian Township within the southwest region of Utah.
The assay from the WOW Property has confirmed .324 ounces of
gold per ton per day from sustained positive results from testing
where 5,000 tons of earth per day is expected to be turned. This
assay report for the WOW Property was done by Advanced
Laboratories, Inc. under LAB NO. 30255-01. A copy of the Test
Certificate of the assay report will be placed on the company's
website to view under the name of the company's Mining Consultant,
Mel Carson. A total of 1,620 ounces of gold per day is expected to
be generated from this claim. The company expects the net cost for
mining the claims for gold to be less than $600 per ounce of
gold.
Silver and platinum were also present within this assay report,
returning .277 and .005 ounces per ton respectively to be extracted
at the same time of the gold extraction. A total of 1,385 ounces of
silver and 25 ounces of platinum per day are expected to be
generated from this claim. The company expects the net cost for
mining the claims for silver and platinum to be less expensive due
to being processed at the same time the company extracts the gold
from these claims.
The company's claims can be found within the U.S. Department of
the Interior Bureau of Land Management (BLM) database under the
BLM's Land & Mineral Legacy Rehost 2000 System (LR2000) for
Utah under its subsidiary CARE, Inc. and other claims information
below:
Serial Number Quad Claim Name Claimant Case Type Section
------------- --------- ---------- ---------- --------- ---------
UMC409842 SW SE WOW CARE, INC. 384201 005
UMC409842 SW SE WOW CARE, INC. 384201 006
UMC409842 SW SE WOW CARE, INC. 384201 008
President of Bayport James Louis Porter was quoted as saying,
"We are all excited over this latest acquisition. The WOW Property
was originally chosen for the significant amount of Rare Earth
Elements (REEs) that are present there. We were excited to find the
amount of gold, silver, and platinum present within the
claims."
More information will be released to further explain Bayport
Corporation's interests in other newly acquired gold and REEs
properties to include other advancements from the company. We are
coordinating private financing that would support us creating a
plan of operation in anticipation of beginning production no later
than the end of October 2011.
The company has coordinated with FINRA for officially changing
the company's name to Bayport Corporation and the assignment of a
new ticker. We have also coordinated with the CUSIP Bureau for
obtaining a new CUSIP#.
About Bayport Corporation
Bayport Corporation is a company formed to exploit the various
precious minerals in the U.S. and Canada and to acquaint the public
with practical investment opportunities in strategic metals and
minerals. Bayport Corporation is a multi-faceted holding company
active in strategic metals and precious minerals, energy
production, wholesale seafood sales, natural foods processing,
health and beauty products. The company is primarily focused on
precious metals, rare earth, and other critical strategic metals.
Bayport Corporation is developing mining properties with economic
potential and the aim of bringing such properties to commercial
production. The company's portfolio of properties is primarily
located in the prolific western USA in Nevada, Utah, Colorado, and
Wyoming. www.bayportcorporation.com
Cautionary Note Regarding Forward-Looking
Statements
This press release and the statements of representatives of Exit
Only, Inc. (the "Company") related thereto contain, or may contain,
among other things, "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact included
herein are "forward-looking statements," including any other
statements of non-historical information. These forward-looking
statements are subject to significant known and unknown risks and
uncertainties and are often identified by the use of
forward-looking terminology such as "guidance," "projects," "may,"
"could," "would," "should," "believes," "expects," "anticipates,"
"estimates," "intends," "plans," "ultimately" or similar
expressions. All forward-looking statements involve material
assumptions, risks and uncertainties, and the expectations
contained in such statements may prove to be incorrect. Investors
should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results (including, without limitation,
Bayport's ability to advance its business, generate revenue and
profit and operate as a public company) could differ materially
from those stated or anticipated in these forward-looking
statements as a result of a variety of factors, including factors
and risks discussed in the periodic reports that the Company files
with OTC Markets (Pink Sheets). All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these factors. The Company
undertakes no duty to update these forward-looking statements
except as required by law.
For any questions, contact: Louis Porter CEO 702-629-6312
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