Trilliant Exploration Signs Letter of Intent With Private Equity Fund Preston Ventures, LLC
July 21 2009 - 11:17AM
Marketwired
Trilliant Exploration Corp. (OTCBB: TTXP), a fully operational and
producing gold mining company with concessions in Southern Ecuador,
announced today that it has signed a Letter of Intent (LOI) with
Boston-based Preston Ventures, LLC to secure long-term funding for
Trilliant's pipeline of Ecuadorian projects for up to three million
(3 million) USD dollars.
Preston Ventures is the Administrative Manager of the PV
Emerging Markets Opportunity Fund which provides cross-sector
early-stage and mezzanine financing to companies in China, India
and Latin America.
"Trilliant Exploration is delighted to be working with Preston
Ventures," said William Lieberman, President of Trilliant
Exploration. "We have a long-term focus on projects in Ecuador and
are pleased to have a partner that shares our outlook for the
future."
Alexander Cole, Managing Partner of Preston Ventures, added, "We
look for interesting opportunities around the world and see Gold as
a prized commodity and also value Ecuador as being one of the last
major countries to begin to institute industrial mining. We look
forward to a strong partnership with this strong management
team."
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 that produces 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. For
additional information please visit the Company's Web site:
www.ttxp.biz
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 our acquisition of Muluncaygold Corp, S.A. 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 2.0 407-682-2001 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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