ABOT Mining Renegotiates and Reduces its Exploration Expenditure
Commitments on Aztlan 8B from $450,000 to $100,000
WOODLAND HILLS, Calif.,
Jan. 6, 2013 /PRNewswire/ -- ABOT
Mining (Pink Sheets: ABOT.pk) is pleased to announce that it has
favorably renegotiated its exploration expenditure commitments on
Aztlan 8B (the "Project") from $450,000 to
$100,000 while maintaining its equity interest option at 50%
in the Project. This addendum is made valid as it is included in
the original Option Agreement signed with Rising Star Mining on
December 6, 2011.
The reduction of this contractual capital commitment by almost
78% will reduce our current liabilities and improve the balance
sheet considerably. The Company expects to deploy its immediate
capital in the production and expansion of its recently announced
Silver Tailings Project.
About the Company
ABOT is a US based mining company engaged in discovering,
acquiring, developing, producing, and marketing precious and
semi-precious metal properties and is currently headquartered in
Woodland Hills, California. ABOT
plans to create long term shareholder value by implementing an
aggressive exploration program, making new precious metals
discoveries and developing mining properties with long-life and low
cost operation.
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Forward-Looking Statement
Any statements made in this press release which are not
historical facts contain certain forward-looking statements; as
such term is defined in the Private Security Litigation Reform Act
of 1995, concerning potential developments affecting the business,
prospects, financial condition and other aspects of the company to
which this release pertains. The actual results of the specific
items described in this release, and the company's operations
generally, may differ materially from what is projected in such
forward-looking statements. Although such statements are based upon
the best judgments of management of the company as of the date of
this release, significant deviations in magnitude, timing and other
factors may result from business risks and uncertainties including,
without limitation, the company's dependence on third parties,
general market and economic conditions, technical factors, the
availability of outside capital, receipt of revenues and other
factors, many of which are beyond the control of the company. The
company disclaims any obligation to update information contained in
any forward-looking statement. This press release shall not be
deemed a general solicitation.
Contact:
Imran Firoz, President
Abot Mining Co.
ABOT.PK
6303 Owensmouth Avenue | 10th Floor
Woodland Hills | CA 91367
T: +1 818.302.0100
E: info@abotmining.com
SOURCE ABOT Mining