ANI Animas Resources Ltd.

Animas Resources Ltd. (TSX VENTURE:ANI) has signed a letter of intent with Dore
King Min SA de CV ("DKM"), a private Mexican gold mining company, which will
work towards permitting, development, construction, and restarting gold
production at the Santa Gertrudis Gold Project. 


The Letter of Intent was signed to establish a 50/50 arrangement whereby Animas
will provide the mining claims at Santa Gertrudis along with its knowledge and
exploration database, and DKM will provide the necessary funding to resume
production at the Santa Gertrudis Gold Project. The following is a summary of
the principal terms of the Letter of Intent:




--  DKM, through a wholly-owned subsidiary, will enter into an exploration
    and exploitation agreement with Animas' Mexican subsidiaries (the
    "Animas Subs") which own the Santa Gertrudis Gold Project, which will
    grant DKM full rights to explore and develop the project. 
    
--  DKM will provide the funding, equipment and operational knowledge to
    begin gold mining and recovery at the Cristina and other gold deposits
    at Santa Gertrudis. 
    
--  Upon obtaining commercial production, the Animas Subs will become 50%
    shareholders of DKM's Mexican subsidiary, which will continue to operate
    the project. 
    
--  10% of the pre-tax cash flow from operations will be used for further
    exploration on site. 
    
--  The remaining 90% of the pre-tax cash flow from operations will be split
    on a 50/50 basis between the Animas and DKM. 
    
--  Any molybdenum discovered on the project and any such occurrences are
    excluded from this Letter of Intent and remain 100% owned by Animas. 



DKM has detailed operations knowledge of other producing gold mines in Mexico
and the Santa Gertrudis Gold Project and will begin permitting as soon as
possible. During that time, DKM, which will be the financier and operator of the
project, will plan the mining operation and the construction of the gold
recovery plant. The operation contemplated is an open pit mine, heap leaching
and gold recovery using conventional and proven technologies and equipment. A
feasibility study has not been completed and there is no certainty such an
operation will be economically viable.


The Santa Gertrudis Gold Project (the "SG Property"), located 180 km north of
Hermosillo, Sonora, Mexico, was discovered by Phelps Dodge in 1986 and advanced
to open pit heap leach production in 1991. From May 1991 to October 2000, the
Santa Gertrudis Property produced 564,000 ounces of gold at an average grade of
2.13 grams per tonne. Phelps Dodge sold part of the Santa Gertrudis Property to
Campbell Resources in 1994 for US$10 million. Campbell later ceased mining and
processing activity due to low gold prices during the late 1990's and settled
some outstanding debts by assigning several core area concessions, including the
un-mined Cristina deposit, to certain local Mexican contractors. The Amelia
Mine, also on Animas' project area, was estimated to have historically produced
over 1 million tonnes at 2.88g Au/tonne. 


About DKM

DKM is a private Mexican company involved in gold mining in Mexico. It is led by
a group of experienced miners and financiers from Mexico and abroad. 


About Animas Resources Ltd.

Animas Resources Ltd., a North American mineral resource company focused on
acquisition and discovery, consolidated the Santa Teresa District's Santa
Gertrudis precious metal and related deposits and prospects within a 562 square
kilometer land holding. Our mission is to grow Animas through development,
discovery and acquisition of high-quality mineral deposits and to build upon the
historic gold resource base at Santa Gertrudis, Mexico, and maintain a pipeline
of only the highest quality projects. 


This news release was prepared by Company management, who take full
responsibility for its content. The technical disclosure in this press release
has been reviewed by John R. Wilson, a Qualified Person as defined by National
Instrument 43-101 of the Canadian Securities Administrators, and the President
and CEO of Animas. 


Register to receive future news releases at www.animasresources.com. 

John R. Wilson, President & CEO

This press release contains "forward-looking information" which may include, but
is not limited to, statements with respect to drilling plans, timing of our
planned NI 43-101 resource report, timing of assays, resource estimates,
projections, our planned exploration and drilling programs, the availability of
future financing for exploration and other plans, projections, estimates and
expectations. Such forward-looking statements reflect our current views with
respect to future events and are subject to certain risks, uncertainties and
assumptions, including, the risks and uncertainties outlined in our most recent
financial statements and reports and registration statement filed with the
Canadian securities administrators (available at www.sedar.com). Should one or
more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
anticipated, believed, estimated or expected.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Animas Resources Ltd.
604-687-6197
1-888-889-4874 (FAX)
www.animasresources.com

Animas Resources Ltd. (TSXV:ANI)
Historical Stock Chart
From Jun 2024 to Jul 2024

Animas Resources Ltd. (TSXV:ANI)
Historical Stock Chart
From Jul 2023 to Jul 2024