Trilliant Exploration Signs Letter of Intent to Acquire Ecuadorian Gold Processor to Increase Gold Production
July 14 2009 - 11:24AM
Marketwired
Trilliant Exploration Corp. (OTCBB: TTXP), a fully operational and
producing gold mining company with concessions in Southern Ecuador,
announced today that its fully owned Ecuadorian operating
subsidiary Ayapambagold S.A. has signed a Letter of Intent (LOI)
with publicly traded, GB Global AG of Switzerland, to purchase a
100% stake in GB Global's Compania Minera Santafe Mining S.A.
(Santa Fe). Terms of the acquisition have not been released at this
time.
Compania Minera Santafe Mining, located in the El Oro Province,
Ecuador, has been in operation for since 2007. Santa Fe, which
processes rock and sand tailings, is currently being retrofitted to
process 150 tons of rock per day.
"We see Santa Fe as a key building block in El Oro province. The
acquisition of Santa Fe's processing facilities combined with
Muluncaygold will help us quickly move our Ecuadorian operations to
full capacity and Trilliant expects to be operating at a combined
200 tons per day very soon," announced William Lieberman, Chief
Executive Officer of Trilliant Exploration. "Trilliant will be in
full compliance with the new mining laws of Ecuador which come into
effect in February of 2010 and maintain that Mining companies be
operating at a minimum of 100 tons per day by that time. Trilliant
Exploration plans to be a very positive example for foreign
investors into the mineral rich country of Ecuador," he added.
For more information and recorded video and interview with CEO
William Lieberman please visit: www.miningstock.info
About Trilliant Exploration Corporation
Trilliant Exploration Corporation is a producing mineral
exploration and development Company with its Administrative offices
located in New York and principle operating concessions in Southern
Ecuador, South America. The Company is engaged in gold mining and
related activities, including exploration and acquisition of
gold-bearing properties, the extraction and processing of ore, and
reclamation of mining properties.
Trilliant Exploration is currently exploring new opportunities
in El Oro province and is continuing its upgrade of Muluncaygold
Corp S.A. The Company is well on track to ramp up its ore
processing capacity to 200 tons-per-day by the third quarter of
2009 and plans to reach its goal of 750 tons-per-day within the
next 18 months.
The company's Muluncay Gold Project currently processes rock at
50 tons-per-day producing an average of 6 to 8 grams of gold per
ton from its concessions located in the center of the
Portovelo-Zaruma mining camp. The Portovelo-Zaruma region has
conservatively produced 4.5 million ounces of gold since 1905.
Forward-Looking Statements
This press release may contain certain forward-looking
statements within the meaning of Section 27A of the Securities and
Exchange Act of 1933, as amended, and Section 21E of the Securities
and Exchange Act of 1934, as amended, and such Forward Looking
Statements are intended to be covered by the safe harbors created
thereby. Investors are cautioned that all forward-looking
statements involve risks and uncertainties.
All statements other than statements of historical fact in this
announcement are forward-looking statements, including but not
limited to the viability of the company's business plans, the
effect of acquisitions on our profitability, the effectiveness,
profitability, and the marketability of the Company's products; the
Company's ability to protect its proprietary information; general
economic and business conditions; the volatility of the company's
operating results and financial condition; and other risks detailed
in the Company's filings with the Securities and Exchange
Commission.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the company and the
industry. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or to changes in its expectations, except as may
be required by law. Although the company believes that the
expectations expressed in these forward-looking statements are
reasonable, management cannot assure the public that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
Contact: Henry Harrison IR PRO 2.0 Phone: 407-682-2001 Email:
hharrison@insidewallstreet.com Michael Elliott For: Trilliant
Exploration Corp. Phone: (212) 560-5195 Email: info@ttxp.biz Web:
www.ttxp.biz
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