BOCA RATON, Fla., May 17, 2012 /PRNewswire/ -- Gold Coast
Mining Corp. (Pink Sheets: GDSM), is pleased to announce today
significant progress in its goal to develop its Skull Valley, Arizona claims along with its
joint venture partner, Western Sierra Mining.
Since completing its previously announced milestones (initial
surveying, staking and preparation for sampling), the joint venture
has taken several steps forward in its plans to develop the Gold
Crown and GS 1-4 properties. After the initial surveys, research
and sampling programs Western Sierra has decided to narrow its
focus for the larger sampling program to a specific area of 316.45
acres of the initial claims. It is the belief of both companies
that this area is of higher significance regarding mineralization
and therefore this is where resources should be concentrated to
maximize results. Marking and flagging of additional sampling sites
within this area has been completed with crews being scheduled to
take samples for further processing.
Additionally, the joint venture announced that Western has
received approval for the Mineral Exploration Permit which allows
for further sampling and exploration of the claims.
Approval has also been received from the State of Arizona for our Plan of Operation and
the joint venture has refilled the state leases for the year
2012-2013.
Marc Lovito, President of
Gold Coast, stated, "This is
exciting, significant progress towards the goal of developing our
claims. Each of these steps brings us closer to moving into the
production phase of our plans."
"Our plan and objective for the next portion of the development
is to prepare and complete the larger sampling program so as to be
able to focus our NOI with BLM and the expanded Mineral Exploration
Permit with the State."
Lovito continued, "We appreciate the support of our shareholders
and will continue to work on their behalf to build value. We will
use Twitter and Facebook for updates that are not part of our press
releases. These tools are a great way to let the shareholders know
we are working and things are progressing, even in the absence of
press releases every other day or week."
The Company maintains the position that while it may need to
issue shares as debt is settled and as part of securing funding for
the joint venture, management has been and remains committed to no
reverse splits and/or toxic financings as part of this process. The
issued and outstanding stock is currently at 629,887,086.
ABOUT GOLD COAST MINING
www.GoldCoastMining.com
Gold Coast Mining Corp plans to pursue growth and enhance
shareholder value through acquisition opportunities in and out of
the mining industry. There are many lucrative mining projects that
are sitting idle due to lack of capital and/or financing direction.
Gold Coast will seek to capitalize
on these opportunities by securing capital, finance consulting,
equipment assistance and other financial assistance to these
companies/projects.
Gold Coast is currently working
with Western Sierra Mining to secure and finalize a project (Gold
Star Mine), with financing built in, that the two parties will
operate within Gold Coast.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include,
but are not limited to: the impact of economic, competitive and
other factors affecting the Company and its operations, markets,
product, and distributor performance.
Gold Coast Mining. Contact: Marc
Lovito
Phone: 800-291-9321
Email: marclovito@goldcoastmining.com
Twitter: @GoldCoastMining
Visit Us on Facebook : Gold Coast Mining (Pinks: GDSM)
SOURCE Gold Coast Mining Corp.