Trilliant Exploration Signs Definitive Documentation for Acquisition of Compania Minera Santafemining of Ecuador
July 22 2009 - 9:00AM
Marketwired
Trilliant Exploration Corp. (OTCBB: TTXP), a fully operational and
producing gold mining company with concessions in Southern Ecuador,
announced today that its wholly owned Ecuadorian operating
subsidiary Ayapambagold S.A has signed definitive documents to
acquire 99% of the shares of Compania Minera Santafemining S.A
(Santa Fe), from GB Global AG of Switzerland. The $1.63 million
acquisition of Santa Fe will bring Trilliant's immediate production
to approximately 130 tons per day.
"We are pleased to have surpassed the Ecuadorian government's
100 tons per day minimum production level well in advance of the
February 2010 deadline. We are well on our way to reaching our goal
of 200 tons per day consolidated operating production by the end of
the third quarter of 2009," said William Lieberman, President of
Trilliant Exploration Corp.
The acquisition's $1.63 million price tag includes paying off
approximately $700,000 in debt held on the Santa Fe property. The
company expects the acquisition to be fully consummated in the
upcoming weeks.
Mr. Lieberman added, "The Santa Fe acquisition is a critical
strategic move for Trilliant. Not only is the Santa Fe facility
physically close to our Muluncay operations, but the facilities
will enable us to quadruple our current output very quickly without
having to shut down operations for a single day."
Compania Minera Santafemining located in the El Oro Province,
Ecuador, has been in operation since 2007 and has been operating at
80 tons per day since inception. Santa Fe, which processes rock and
sand tailings, is currently being retrofitted to add an additional
70 tons of operating capacity, including a crushing line, and plans
to be processing 150 tons of rock per day by the end of the third
quarter of 2009. Santa Fe is located approximately one kilometer
from Trilliant's Muluncay operation.
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.
The Company continues to explore new opportunities in El Oro
province, Southern Ecuador and is continuing its upgrade of
Muluncaygold Corp S.A., that is currently processing 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.
Trilliant Exploration's consolidated operation is well on track
to process 200 tons per day of rock by the third quarter of 2009
and plans to reach its goal of 750 tons per day within the next 18
months.
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 2.0 407-682-2001
www.MiningStock.info 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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