Inception Mining, Inc Announces Mid-Quarter Production Results
Mid-Q3 numbers show increase of
400% over Q3 2018, and YTD results 30% higher than
2018
Salt Lake City Utah, August 28, 2019 (GLOBE NEWSWIRE)
Inception Mining Inc. (OTCQB: IMII) (the “Company”) reported
today preliminary production results of 975 ounces of gold and 272
ounces of silver for the first 45 days of the third quarter, from
July 1, 2019 through August 14, 2019.
Production from the Company’s Clavo Rico project totaled 2,508
ounces of gold and 960 ounces of silver YTD at the time of this
release. The mid-quarter numbers show an increase of
400% over Q3 2018/mid-Q3 2018, and the YTD figures
reflect growth of 30% over the same time last
year/higher than the total production volume from 2018.
The Company also announced that it maintains plans to increase
production outlook, with the expanded operations of the Clavo Rico
project in Honduras commencing after a 24-month process, and the
partnership with Glen Eagle Resources (TSX-V: GER) allowing the
Company to accelerate its production through the toll processing
agreement signed in May 2019.
Trent D’Ambrosio, CEO of Inception Mining, stated, “Inception’s
2019 gains are a direct result of our commitment to continually
monitor, evaluate and improve our extraction operations, which we
have accomplished without losing sight of development and
exploration opportunities to sustain our future momentum. We
believe our continued production growth and expansion as
illustrated by these mid-quarter numbers and will raise Inception’s
profile as an efficient, high-margin producer of gold and
silver.
Full financial results for Q2 2019 are available in the report
on Form 10-Q filed with the Securities and Exchange
Commission.
About Inception Mining, Inc.
Inception Mining Inc., a Nevada corporation, is
engaged in the acquisition, exploration, and development of gold
projects in Central and North America. Inception’s core asset is
the Clavo Rico gold project in Honduras, which features a heap
leach facility and on-site ADR plant.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements and information within the meaning of applicable
Canadian and US securities legislation. All statements, other than
statements of historical fact, included herein including, without
limitation, statements regarding the anticipated content,
commencement and cost of exploration programs, anticipated
exploration program results and the timing thereof, the discovery
and delineation of mineral deposits/resources/reserves, the
potential for the identification of multiple deposits in the
Project area, the potential for a low capex and/or opex heap leach
mine operation, the potential for a production decision to be made,
the potential commencement of any development of a mine following a
production decision, the potential for any mining or production,
the potential for additional resources to be located between
certain of the existing deposits, business and financing plans and
business trends, are forward-looking statements. Information
concerning mineral resource estimates are deemed to be
forward-looking statements in that it reflects a prediction of the
mineralization that would be encountered, and the results of mining
it, if a mineral deposit were developed and mined. Although the
Company believes that such statements are reasonable, it can give
no assurance that such expectations will prove to be correct.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to
future events. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of
future results or performance, and that actual results may differ
materially from those in forward looking statements as a result of
various factors, including, but not limited to, variations in the
nature, quality and quantity of any mineral deposits that may be
located, variations in the market price of any mineral products the
Company may produce or plan to produce, the Company's inability to
obtain any necessary permits, consents or authorizations required
for its activities, significant increases in the cost of labor,
materials, equipment and supplies required to develop and operate
any mine, the Company's inability to produce minerals from its
properties successfully or profitably, to continue its projected
growth, to raise the necessary capital or to be fully able to
implement its business strategies, and other risks and
uncertainties disclosed in the Company's latest filings with the
SEC. All of the Company's public disclosure filings may be accessed
via www.sec.gov and readers are urged to review these materials
with respect to the Company's mineral properties.
Cautionary Note Regarding References to Resources and
Reserves
National Instrument 43 101 - Standards of
Disclosure for Mineral Projects ("NI 43-101") is a rule developed
by the Canadian Securities Administrators which establishes
standards for all public disclosure an issuer makes of scientific
and technical information concerning mineral projects. Unless
otherwise indicated, all resource estimates contained in or
incorporated by reference in this press release have been prepared
in accordance with NI 43-101 and the guidelines set out in the
Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM")
Standards on Mineral Resource and Mineral Reserves, adopted by the
CIM Council on November 14, 2004 (the "CIM Standards") as they may
be amended from time to time by the CIM. While the Company is not
listed on any Canadian exchange or subject to NI 43-101, and the
Technical Report will not be filed with any Canadian authorities,
it elected to have the 43-101 report completed for informational,
voluntary purposes. United States shareholders are cautioned that
the requirements and terminology of NI 43-101 and the CIM Standards
differ significantly from the requirements and terminology of the
SEC set forth in the SEC's Industry Guide 7 ("SEC Industry Guide
7") and Subpart 1300 of Regulation S-K. Accordingly, the Company's
disclosures regarding mineralization may not be comparable to
similar information disclosed by companies subject to SEC Industry
Guide 7 or Subpart 1300 of Regulation S-K. Without limiting the
foregoing, while the terms "mineral resources", "inferred mineral
resources", "indicated mineral resources" and "measured mineral
resources" are recognized and required by NI 43-101 and the CIM
Standards, they are not recognized by the SEC and are not permitted
to be used in documents filed with the SEC by companies subject to
SEC Industry Guide 7. These definitions also differ from the
requirements of the disclosure and technical report requirements of
Subpart 1300 of Regulation S-K, which the Company will fully comply
with according to the SEC’s required timeline of the fiscal year
following January 1, 2021. Mineral resources which are not
mineral reserves do not have demonstrated economic viability, and
US investors are cautioned not to assume that all or any part of a
mineral resource will ever be converted into reserves. Further,
inferred resources have a great amount of uncertainty as to their
existence and as to whether they can be mined legally or
economically. It cannot be assumed that all or any part of the
inferred resources will ever be upgraded to a higher resource
category. Under Canadian rules, estimates of inferred mineral
resources may not form the basis of a feasibility study or
prefeasibility study, except in rare cases. The SEC normally only
permits issuers to report mineralization that does not constitute
SEC Industry Guide 7 compliant "reserves" as in-place tonnage and
grade without reference to unit amounts. The term "contained
ounces" is not permitted under the rules of SEC Industry Guide 7.
In addition, the NI 43-101 and CIM Standards definition of a
"reserve" differs from the definition in SEC Industry Guide 7. In
SEC Industry Guide 7, a mineral reserve is defined as a part of a
mineral deposit which could be economically and legally extracted
or produced at the time the mineral reserve determination is made,
and a "final" or "bankable" feasibility study is required to report
reserves, the three-year historical price is used in any reserve or
cash flow analysis of designated reserves and the primary
environmental analysis or report must be filed with the appropriate
governmental authority.
Forward-Looking Statements
This news release includes certain
forward-looking statements or information. All statements other
than statements of historical fact included in this release are
forward-looking statements that involve various risks and
uncertainties. Forward-looking statements in this news
release include statements with respect to the potential
mineralization and geological merits of the Company properties.
There can be no assurance statements will prove to be accurate and
actual results and future events could differ materially from
anticipated in such statements.
Inception Mining Inc. disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events except as
required by applicable securities legislation.
Contact:
SOURCE: Inception Mining Inc.
(OTC QB: IMII)
5330 South 900 East, Suite 280
Salt Lake City, Utah 84117
Trent D’Ambrosio CEO
(801) 312-8113 Ext. 101
info@inceptionmining.com
www.inceptionmining.com
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