Dana Resources in Negotiations to Purchase Producing Silver Mine
February 17 2010 - 9:00AM
Marketwired
Dana Resources (OTCBB: DANR) (FRANKFURT: OD0) is a US-based
precious metals development company with advanced stage gold and
base metal properties in Peru. Management is pleased to announce
the status of the silver production project acquisition program.
Dana Resources recently announced its intentions to acquire
silver producing opportunities in Peru. The Company has identified
a silver producing asset with initial projected revenues of
approximately $10 million per annum without any additional capital
requirements. With additional capital investments, the project
could increase production by up to 300% of current levels and
receive additional revenue by processing ore from other nearby mine
sites.
The company continues with negotiations and intends to conclude
a transaction in short order. As well, the company is evaluating
several other acquisitions with production potential.
Mr. Len DeMelt states, "Dana is working diligently to follow
through on its commitment to generate revenue this year. The
transition to a production company would expedite our efforts to
become a South American midcap resource production company."
About Dana Resources
Dana Resources is a precious and base metals exploration company
with offices in the United States and Peru. Dana's management team
possesses local knowledge, extensive international connections, a
wealth of experience and technical expertise in mining, mining
finance, exploration and production. Dana Resources has acquired a
portfolio of gold, silver and other precious & base metal
properties located in Peru's most prolific mining regions.
With Peru growing as a producer of gold, silver and other metals
on the international market, Dana Resources is well positioned to
capitalize on the escalating global demand for commodities. The
management team and Directors are committed to creating value for
their shareholders and to the long-term success of Dana
Resources.
The statements contained herein which are not historical are
forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements, including,
but not limited to, certain delays beyond Dana Resources control
with respect to the commencement of drilling operations,
concentration in mineral deposits, delays in testing and evaluation
of ore samples, and other risks detailed from time to time in Dana
Resources' filings with the Securities and Exchange Commission.
Leonard DeMelt Dana Resources www.danaresources.com Email
Contact
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