KINGMAN, Ariz., May 23, 2013 /PRNewswire/ -- Sierra Resource
Group, Inc. (OTCBB: SIRG) (the "Company" or "Sierra") continues the
process of permitting mining operations at its Chloride Copper Mine
near Kingman, Arizona. The United
States Department of the Interior's Bureau of Land Management (the
"BLM") has accepted Sierra's revised Mine
Plan of Operation as Technically Complete. The Company
is addressing the BLM's comments on its Environmental Assessment
report, in accordance with the National Environmental Policy Act
("NEPA"). The Company also believes that its Aquifer
Protection Permit is nearing completion with Arizona Department of
Environmental Quality and that all other needed permits are
underway or have been finalized.
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Walter "Buzz" Todd III, BLM Geologist, said: "BLM has already
accepted Sierra's Mining Plan of Operation as technically complete,
and the NEPA Process is fully underway. Sierra
throughout this process has been very interactive, smooth and
cooperative."
"Permitting is always a long, drawn out but critically important
process. The BLM and Arizona's
State Agencies have worked diligently and very closely with Sierra
to keep the process as streamlined and productive as possible. We
are delighted to be nearing the end of this phase of the project,"
said J. Rod Martin, the Company's
Chief Executive Officer.
The Company has also entered into preliminary discussions
regarding a possible tolling agreement whereby the Company's
readily available ore at the Chloride Copper Mine, already
stockpiled, would be processed off-site. Special permits would be
required, which the Company is presently exploring. "If a deal like
this can be put together, Sierra could effectively be positively
cash flowing much quicker than originally planned," said Mr.
Martin.
About Sierra Resource Group Inc.
Sierra Resource Group Inc. (OTC Bulletin Board: SIRG) is a U.S
based exploration and mining company committed to the exploration,
discovery and development of gold, silver, copper and other mineral
resources. Sierra's primary asset was 90% ownership of the Chloride
Copper Mine (the "Mine") located near Kingman Arizona. Now after acquiring the
remaining 10% minority interest, Sierra owns 100% of the
Mine. The technical report, NI43-101, by Scott Wilson Roscoe
Postle Associates March 10, 2006,
estimates the Chloride Copper Mine contains 27,000,000 pounds of
copper.
Sierra plans to use open pit mining and plans to reopen the
existing SX/EW plant on site with a maximum capability of producing
up to 5,400,000 pounds of Copper Cathode per year.
Sierra's Management and Board of Directors consist of expert
geologists, mining professionals and experienced business
people.
FOR INFORMATION CONTACT:
Sierra Resource Group, Inc.
Ph. 702.462.7285
For more information visit our website:
www.sierragroupinc.com
J. Rod Martin CEO
info@sierragroupinc.com
Safe Harbor Statement under the Private Litigation Reform Act
of 1995. Forward-looking statements in this document do not
constitute guarantees of future performance. Such forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those anticipated. You can
anticipate that actual results will be different due to the
inherent uncertainty of estimates; forecasts and projections may be
better or worse than projected. Forward-looking statements may
relate, among other things, to expected financial and operating
results and the Company's ability to achieve its goals, plans and
objectives. The risks and uncertainties that may affect
forward-looking statements include among others: the Company's
limited operating history, the speculative nature of the Company's
planned operations, difficulty in developing new projects,
difficulty gaining necessary governmental approvals, the Company's
lack of market research and marketing organization, the Company's
inexperience in operating internationally, and difficulty managing
rapid growth. At this time, there can be no assurance that the
Company will successfully complete the permitting processes
referred to in this press release, enter into any tolling
agreement, obtain special permits, or obtain the financing it needs
to execute its plans. For a more detailed discussion of the risks
and uncertainties of Sierra Resource Group's business, please refer
to the Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2012, the
Company's Quarterly Report on Form 10-Q for the period ending
March 31, 2013, and the Company's
Reports Form 8-K, all as filed with the Securities and Exchange
Commission, and as subsequently amended. The Company assumes no
obligation to update any forward-looking statement contained in
this press release or with respect to any of the information
described herein.
SOURCE Sierra Resource Group, Inc.