Bullion River Gold Corp.
Bullion River Gold Expects First Positive Cash Flow for its French Gulch Mine in October
Bullion River Gold Corp. / Interim Report
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Bullion River Gold Expects First Positive Cash Flow for its
French Gulch Mine in October
Reno, NV – NOV 5, 2007 — Bullion River Gold Corp. (OTC BB: BLRV) announced
earlier today that according to preliminary production statistics for the
Company’s French Gulch Mining operation, the value of Gold recovered last
month (Oct-2007) at the Company’s California-based mine is expected to
exceeded onsite production costs.
While gold sales are expected to be well above $525,000.00, the preliminary
cost estimates are for less than $475,000.00 for the month.
‘Operating at a profit in October is overdue validation of the measures we
instituted earlier in 2007 to control production costs,’ stated CEO Peter
M. Kuhn. ‘This milestone could also not have been reached without the
diligent efforts of the mine operations personnel onsite at French Gulch,
and their collective efforts to bring the project to profitability. The
improvements and development in the mine, resulting now in 6 operating
stopes and the best gold recovery in the mill since the start of production
are very solid foundations for the months to come.’
The preliminary Production Statistics for October 2007 at Bullion River
Gold’s French Gulch Mine project are as follows:
Period: Milled: Gold Mill Head
Recovered: Recovery: Grade:
10/1/2007 1,055.3 tonnes 734.8 ounces 92.3% 0.754 opt
thru
10/31/2007
For the period October 1, 2007 through October 31, 2007, the mine produced
and processed 1,055.3 tons of ore containing 795.7 oz of gold, of which
734.8 oz were recovered, representing an average recovery for the month of
92.3 %.
The statistics listed above represent the first calendar month in which the
value of gold produced by the mine exceeded onsite production costs. This
is a significant event in the evolution of the French Gulch Mine from an
exploration project to a viable gold producer. Efforts onsite are currently
directed at continued cost management and development of additional stoping
areas, which will allow the mine to increase tonnage delivered to the mill.
The availability of additional tonnage at French Gulch will continue to
reduce the Company’s cost per ounce produced. Combine this with the current
prices for gold (US$807.25 on Nov 2, 2007) and silver (US$14.64 on Nov 2,
2007), and Bullion River Gold anticipates continued increasing revenues,
all of which should lead to more profitable months for Bullion River Gold’s
mining operations, and increased shareholder value.
About Bullion River Gold Corp.
Bullion River Gold Corp is a Nevada-based precious metals exploration
company focused on gold and silver deposits in the western United States.
The Company currently has six project properties, equally divided between
California and Nevada. Of the Nevada properties, two are considered
advanced projects and the third is considered grassroots. The three
California properties are all past producers.
For more information, please contact Glenn Blachford at Bullion River Gold
Corp. Glenn can be reached via (800) 540-BLRV (2578), or at
glenn@bullionriver.com.
Interested investors are encouraged to visit the Company’s website at
www.bullionrivergold.com and/or view the financial filings for BLRV on file
in the EDGAR system, which can be accessed by going to the U.S. Securities
and Exchange Commission’s website at www.sec.gov.
Forward-Looking Disclaimer
This press release may include statements that constitute ‘forward-looking
statements,’ which are often characterized by the terms ‘may,’ ‘believes,’
‘projects,’ ‘expects,’ or ‘anticipates,’ and do not reflect historical
facts. Forward-looking statements involve risks, uncertainties and other
factors that may cause actual results, performance or achievements of
Bullion River Gold Corp. to be materially different from those expressed or
implied by such forward-looking statements. Any such forward-looking
statements are inherently speculative and are based on currently available
information, operating plans and projections about future expectations and
trends. As such, they are subject to numerous risks and uncertainties, such
as general economic and business conditions, the ability to acquire and
develop specific projects, the ability to fund operations and other factors
over which Bullion River Gold Corp. may have little or no control. Specific
forward-looking statements contained in this press release include, but are
not limited to the Company’s statement that (i) certain efforts onsite at
French Gulch, will allow the mine to increase tonnage to the mill; (ii)
that Bullion River Gold anticipates continued increasing revenues due to
the current price of gold and other factors; and (iii) the Company’s
summary statement that all of these factors should lead to more profitable
months for Bullion River Gold’s mining operations, and increased
shareholder value.
Factors that may affect forward-looking statements and the Company’s
business generally include but are not limited to (i) the risk factors and
cautionary statements made in the Company’s SEC filings; and (ii) other
factors that Bullion River Gold is currently unable to identify or
quantify, but may exist in the future.
Contact:
Bullion River Gold Corp.
Glenn Blachford
(775) 324-4881
glenn@bullionriver.com
or
Wolfram Böhm
0049-89-30646097
w.boehm@bullionriver.com
Additional Investor Relations:
Equiti-trend Advisors LLC
(800) 953-3350 Toll-Free, U.S. & Canada
(858) 436-3350 Local or Intl.
SOURCE: BULLION RIVER GOLD CORP.
05.11.2007 Financial News transmitted by DGAP
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