United Resource Holdings Group, Inc. Declares Commercial Mining at Dun Glen Mine

United Resource Holdings Group, Inc. (“URHG”) (Pink Sheets: URHG) announced today that its wholly owned subsidiary, Dun Glen Mining Corp (“Dun Glen”) began commercial production at the Dun Glen Mine.

While the plant at the Dun Glen mine began processing ore for the recovery of gold on August 25, 2014, Dun Glen mine continues developing the ore pit at a sustained level to sufficiently feed the processing plant to enable profitable production. Dun Glen’s contribution from sales of ounces produced will be recorded in the consolidated statement of earnings for URHG in the third quarter of 2014.

“This is a significant accomplishment for the Dun Glen team and a pivotal achievement for URHG,” said Mark Kersey, President and CEO of the Company. “We will have achieved commercial production during the third quarter—a testament to the hard work and commitment of the Dun Glen team. From the initiation of leasing of Dun Glen starting in May of 2011, to completing the NV Bureau of Mining Regulation & Reclamation permitting process, to completing construction, to posting the NV Department of Minerals bond; mining has commenced at Dun Glen.”

Dana Low, Chief Operating Officer for URHG, has been at the mine during the mobilization phase and inception of production at Dun Glen. With the mine still in its early days of commercial production we continue to evaluate various production profiles to optimize and get the best economic return from the processing of Dun Glen’s mine.

URHG continues to move forward in the Audit process being completed by Haynie & Company and with the assistance of its accounting firm Ingenium Accounting for the year ending 2013.

About United Resource Holdings Group, Inc.:

United Resource Holdings Group, Inc. is a U.S.-based natural resource exploration and development company, focused on the acquisition of mining equipment and the development of placer mines, gold and other precious commodity projects that demonstrate a reasonable probability for near term production. In addition, the company operates a beneficiation process plant that recovers precious metals from mineral ores and ore concentrates on behalf of its captive mining properties and on behalf of third party mining companies. The company is quoted on the OTCPK under the symbol “URHG”.

Notice Regarding Forward-Looking Statements:

This press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about URHG. Forward-looking statements are statements that are not historical facts. All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as: future prices and sales of, and demand for, our products; future industry market conditions; future changes in our exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; operational and management restructuring activities (including implementation of methodologies and changes in the board of directors); future employment and contributions of personnel; tax and interest rates; capital expenditures and their impact on us; nature and timing and accounting for restructuring charges, gains or losses on debt extinguishment, derivative liabilities and the impact thereof; productivity, business process, rationalization, investment, acquisition, consulting, operational, tax, financial and capital projects and initiatives; contingencies; environmental compliance and changes in the regulatory environment; offerings, sales and other actions regarding debt or equity securities; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth.

The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in the URHG filing on OTC Filings and the following: current global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources and reserves; operational or technical difficulties in connection with exploration or mining activities; contests over our title to properties; potential dilution to our stockholders from the conversion of securities that are convertible into or exercisable for shares of our common stock; potential inability to continue to comply with government regulations; adoption of or changes in legislation or regulations adversely affecting our businesses; business opportunities that may be presented to, or pursued by, us; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to unexpected equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, copper, diesel fuel, and electricity); changes in generally accepted accounting principles; geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues organically; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies and equipment raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to maintain the listing of our securities on any securities exchange or market; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.

Neither this press release nor any related calls or discussions constitute an offer to sell or the solicitation of an offer to buy any securities.

United Resource Holdings Group, Inc.Mark A. Kersey, 775-851-4700

United Resources (CE) (USOTC:URHG)
Historical Stock Chart
From Mar 2024 to Apr 2024