Monte Cristo Resources Limited
Monte Cristo Resources Acquires Bristol Gold Property
Monte Cristo Resources Limited / Key word(s): Miscellaneous Monte Cristo Resources Acquires Bristol Gold Property January 9th, 2012 (EquityStory AG) – Monte Cristo Resources Limited (FSE:MCD) ('Monte Cristo' or the 'Company') is pleased to report the acquisition of a 100% working interest in the Bristol Gold Property which is comprised of one mineral tenure encompassing just under 245 hectares on the south shore of Carpenter Lake in the historic Bridge River Gold Camp of central British Columbia (the 'Rights'). The Bridge River Gold Camp is host to over 70 mining operations including the Bralorne-Pioneer Mine, the largest gold producer in British Columbia and the sixth largest gold producer in Canada with total output of over 4,150,000 ounces of gold and more than 950,000 ounces of silver. The Rights are subject to a 3% net smelter return in favor of the vendor, Jervis Explorations, Inc. Rodger Cowan, the President of Monte Cristo, commented that, 'our review of the reports and data on the Bristol Gold Property clearly identifies the development path that needs to be followed. It is our intention to put a crew on the property as soon as possible for the specific purpose of completing some firsthand assessment work, confirming some existing data and defining the parameters of the recommended drilling program. The acquisition of the Bristol Gold Property provides Monte Cristo with the type of strong, cornerstone asset that we feel capable of building a company on. We have also identified and are currently negotiating terms on an alluvial gold property in west Africa that could be brought into production quickly and provide Monte Cristo with the positive cash flow needed to begin a work program on Bristol without suffering the dilution of earnings and shareholder values associated with a working capital raise.' About Monte Cristo Resources Limited Monte Cristo Resources Limited ('Monte Cristo') was formed to identify strong exploration or development projects in proven mining camps located in areas of relative political stability. The management of Monte Cristo is primarily focused on building reserves and utilizing positive cash flow to internally finance the development of prospects on a basis that avoids the undue issuances from treasury that impact negatively on earnings. On behalf of the Board of Directors
Monte Cristo Resources Limited E-mail: info@montecristo.ca Website: www.montecristo.ca FORWARD-LOOKING STATEMENTS Statements in this document which are not purely historical are 'forward-looking statements', including any statements regarding the intent, belief or current expectations of Monte Cristo Resources Limited and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Forward looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as updates may be required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Although the Company believes that the plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that those plans, expectations or intentions will prove to be accurate. Investors should consider all of the information provided in this press release within the context of the caveat implied in this information with respect to forward looking statements. End of Corporate News 11.01.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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