Hutchison Minerals Company Ltd.
Hutchison Minerals Company Ltd. Acquires Two Mexico Properties
Hutchison Minerals Company Ltd. / Key word(s): Acquisition 17.10.2012 / 00:00 --------------------------------------------------------------------- Toronto, Ontario Canada - (For Immediate Release) - October 17th, 2012 Hutchison Minerals Co. Ltd., (Frankfurt Symbol: HZON) is pleased to announce today that the company through its negotiations to acquire 100 percent of two mining claims - Bonanza (20 Hectares drilled) and San Dionisio (960 Hectares for exploration) in the Mexican state of Nayarit, will start a small scale production in 2012 of gold and silver on the Bonanza claim. The Bonanza claim was in production for 4 years from 1989 to 1993 selling to Peñoles. Bonanza and San Dionisio properties are located 20 km NE from the municipality of Acaponeta, Nayarit off the Panamerican Highway. Acaponeta has a population of 36,000 with good infrustructure in place. 4 km north of Acaponeta on the highway it is a 16 km gravel road to the mine opening past the towns of Tierras Coloradas and San Diaguito and 4 km from the small town of El Corralizo population 150 people. A river runs through El Corralizo with power lines also in place. Original studies conducted were by Peñoles, 1986, one of Mexicos largest gold and silver producers. A subsequent study was conducted by a Canadian drilling company Merfin Exploration Ltd in 1988-89 with 10 drill holes. The mine, owned by Minera Nayaloa S.A. de C.V., was in production from 1989 to 1993 selling its production to Peñoles. The Bonanza Property has 10 drilled holes of relevance, although 22 were conducted. Only 25% of the property was drilled. Average values per ton: Au 4 gr/ton / Ag 363.41 gr/ton with one drill hole showing Au 14.9 gr/ton value. The bordering extended property Dionisio of 960 Ha has the same geological makeup and there is clear evidence of surface outcrops of gold and silver content. A further exploration is recommended to establish the true value of these two properties About Hutchison Minerals Co. Ltd. Hutchison Minerals Co. Ltd., is a Frankfurt listed company and the company was incorporated on November 25th, 2010 under the Ontario Business Corporations Act Incorporation number: 1837335. The company is focused on the exploration and mineralization of gold and precious mineral properties in Central and South America. Our primary focus is the 'Estrella Del Espinal' mining prospects in south central Mexico. This property is of great interest to the company because the property has significant mineral diversity including Gold, Silver, Copper, Lead and Zinc, based on a Surface Geology survey conducted by Mexico's Department of Mines in 2003. The Mexican department of Mines estimates inferred Gold reserves on the surface of the property equivalent to over 700,000 ounces. CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION: This press release is prepared for the sole purpose of public announcement of the merger agreement. Certain information contained in this press release, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute 'forward-looking statements'. All statements, other than statements of historical fact, are forward-looking statements. The word 'intend' and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Hutchison cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of HUTCHISON MINERALS CO. LTD (to be referred to as HUTCHISON) to be materially different from HUTCHISON's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. HUTCHISON disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. This press release does not constitute or form part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore. For Investor Relations please contact: Hutchison Minerals Company Ltd. Head Office 372 Richmond Street, Suite 114 Toronto, Ontario Canada M5V 1X6 Telephone: 1-416-848-0459 Hutchison Minerals Company Ltd. Mining Office Montecito no. 38, Piso 39, Oficina 34, Colonian Apoleisn, Mexico City, México Telephone: + 52 777 230 5948 Website: www.hutchisonminerals.com Email: info@hutchisonminerals.com End of Corporate News --------------------------------------------------------------------- 17.10.2012 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 --------------------------------------------------------------------- 189006 17.10.2012
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