Britannia Bolsters Gold Reach With Dubai MOU; Developing & Sourcing Precious Metals in Partnership With UAE Firm
July 23 2014 - 8:26AM
Britannia Mining, Inc. (OTC Pink: BMIN) ("Britannia" or the
"Company"), a UK based mining development Company, announced today
that the Company has executed a MOU with a prominent gold
investment holding company in the United Arab Emirates ("UAE"), to
forge a partnership which will broaden Britannia's ability to fund,
mine and trade precious metals.
The MOU establishes a relationship between the Dubai and UK
based firms, whereby the parties have commenced an evaluation of
several acquisition targets and gold trading opportunities.
This has been set with a view to enter into a number of joint
venture arrangements along with sales and purchase contracts.
"The UAE company is a thriving group that is constantly seeking
new companies to join forces with to mutually expand within the
precious metals space," stated Kenneth Roberts, CEO of Britannia
Mining. "The tie up with Britannia should prove to be
beneficial to both parties."
Britannia comes to the table with its Yukon gold projects in tow
and a pipeline of operating acquisition targets as well as physical
gold trading opportunities – immediately demonstrating the
company's ability to source and grow significant and valuable gold
projects. With the Dubai firm already having related
parties throughout the UAE, South America, Europe, as well as
across the Arabian Gulf, Britannia's reach within Africa and North
America provides both parties ample opportunity to expand into new
territories.
The multi-billion dollar UAE firm holds an integrated portfolio
of gold assets from mining operations through to trading
activities.
"For Britannia, a highlight of this relationship is that we will
strengthen our position to acquire and develop a number of gold
opportunities, with a view to supply an established gold buying
network," continued Mr. Roberts. "The UAE group will look to
provide resources to develop and purchase gold from prospects
supplied by Britannia, which is good news for our pipeline projects
including the company's Yukon gold claims. We also have
the opportunity to act as the partnership's intermediary in Forward
Purchase gold contracts; which speaks directly to our near term
income prospects."
Mr. Roberts concluded, "We have worked diligently to further our
strategic plan; primarily focused on generating near term revenues
along with finalizing a credit line of $30 Million from REM
Capital. This MOU, along with the anticipated outcomes, brings us
closer to delivering on our strategic plan this third quarter."
About Britannia Mining
Britannia Mining is a natural resources development company that
is focused on acquiring high quality mineral, mining and other
commodity-based projects. The company is committed to developing
revenues by conducting exploration, evaluation and trading
activities. The company's mission is to secure commodities by
developing immediate and near term product pipelines for iron ore
and other natural resources.
Acquisition Focus
The Company is targeting revenue producing assets and is
currently in negotiations regarding joint venture, acquisitions and
trading mineral stockpiles.
Exploration Focus
The company has been developing a high grade iron ore project in
Malawi and is currently renewing the Exclusive Prospecting License
(EPL) for iron ore over 650 sq. km at Nthale Blantyre. The company
is targeting 100 Million Tons (MT) iron at Nthale Hill (20 sq.
km).
Britannia Mining has inherited the legacy projects (Gold claims)
of the former Micron Enviro Systems in the Yukon and plans to
conduct sampling on this area.
For more information, please
visit www.BritanniaMining.com.
Safe Harbor
This news release contains forward-looking statements.
Forward-looking statements are statements which relate to future
events. In some cases, you can identify forward-looking statements
by terminology such as "may,'' "should,'' "expects,'' "plans,''
"anticipates,'' "believes,'' "estimates,'' "predicts,''
"potential'' or "continue'' or the negative of these terms or other
comparable terminology. These statements are only predictions and
involve known and unknown risks, uncertainties and other factors
that may cause our or our industry's actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking
statements. While these forward-looking statements, and any
assumptions upon which they are based, are made in good faith and
reflect our current judgment regarding the direction of our
business, actual results will almost always vary, sometimes
materially, from any estimates, predictions, projections,
assumptions or other future performance suggested herein. Except as
required by applicable law, including the securities laws of the
United States, the Company does not intend to update any of the
forward-looking statements to conform these statements to actual
results. Readers are referred to the sections entitled "Risk
Factors'' in the Company's periodic filings with the United States
Securities and Exchange Commission, which can be viewed
at http://www.SEC.gov. For all details regarding working
interests in all of BMIN's mining prospects or any previous news
releases go to OTC Markets website. You should independently
investigate and fully understand all risks before making investment
decisions.
CONTACT: Team BMIN
(646) 580-1153
www.britanniamining.com