TEMPE, AZ — OTCQB, SMRS, (Marketwired) — Star Mountain Resources, Inc. (the “Company”) (OTCQB: SMRS), a minerals exploration company focused on acquiring and consolidating mining claims, mineral leases, producing mines, and historic mines with production and future growth potential identified through exploration efforts, today announced it is continuing its active pursuit of merger and acquisition opportunities for mines, advanced projects and immature projects that are available at opportunistic costs during the current mining cycle downturn.
“As part of our strategy to strategically position ourselves for the inevitable upturn in the commodity markets, we are presently pursuing the previously announced acquisition of an underground base metal mine located in North America subject to completion of financing,” stated Joseph Marchal, CEO of Star Mountain Resources. “The mine is permitted and in compliance with current Federal and State mining regulations and is on care and maintenance status. We intend to upgrade and modernize certain infrastructure systems, develop additional access to existing mining areas and restart production at this mine within 6 to 9 months.”
Marchal continued, “Based on data provided to us during our due diligence on this proposed acquisition, we believe that the base metal mine opportunity presents to us the possibility of outstanding cash flows in the near term, showing a viable net present value and an attractive internal rate of return. By completing this acquisition and raising the capital needed to complete it, we expect to meet the listing requirements for a national stock exchange. We believe that an up-listing to a national stock exchange will further enhance our efforts to raise additional capital needed to identify and complete the acquisition of other quality properties and projects.”
The decrease in commodity prices has created an environment for opportunistic quality projects at competitive prices. Management is fully committed to accessing the capital markets, seek up-listing to a national securities exchange and coupled with the mining experience of its leadership team, the company is well positioned to recognize quality acquisition opportunities and to operate those acquisitions profitably.
About Star Mountain Resources Inc. Star Mountain Resources Inc. (SMRS) is a precious metals mining company. Our strategy is to discover, acquire, develop, and operate low-cost mining operations that will produce long-term cash flow, provide opportunities for growth through continued exploration, and generate superior and sustainable returns for our stakeholders. Our operations are focused on the initiation, production, and expansion of our acquired mineral resources in the Star Mountain Mining District, Beaver County, Utah and turning them into producing assets.
CAUTIONARY STATEMENT REGARDING MINERALIZED MATERIAL
“Mineralized material” as used in this news release, although permissible under the United States Securities and Exchange Commission’s (“SEC”) Industry Guide 7, does not indicate “reserves” by SEC standards. We cannot be certain that any deposits from any prospective mine acquisitions will ever be confirmed or converted into SEC Industry Guide 7 compliant “reserves”. Investors are cautioned not to assume that all or any part of the disclosed mineralized material estimates will ever be confirmed or converted into reserves or that mineralized material can be economically or legally extracted.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to our planned acquisition of a base metal mine, the expected revenues associated with the mine and the financing needed to complete that acquisition) and other factors discussed from time to time in our SEC filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as “may,” “should,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan” and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
For More Information Contact: Joseph Marchal CEO Star Mountain Resources, Inc. 702-933-0808 firstname.lastname@example.org