Santo Mining Corp. Acquires 100% of the Eliza Claim in the Heart of the Dominican Gold District.
SANTO DOMINGO, Dominican Republic, Oct. 31, 2012 (GLOBE NEWSWIRE) -- Santo Mining Corp. (OTCBB:SANP), (the "Company"), is pleased to announce that it has acquired 100% of the "Eliza" gold exploration claim immediately North of Monción in the Dominican Republic. This claim consists of 243.75 hectacres of explorable lands and adds to the Company's growing portfolio.
Eliza shares the mineral rich "Hispaniola Gold Copper Arc" formation with Barrick Gold's "Pueblo Viejo" mine with 25 million ounces of Gold, Perilya Gold's "Cerro de Maimón", Goldquest's recent impressive "Romero" discovery, and Falcondo Xstrata's massive nickel complex all of which are just a few minutes away.
Santo Mining anticipates that it is a few days from completing a geochemical soil survey at their "Walter" claim a short distance to the east. As soon as this survey is complete the exploration crew plans to relocate just North of Maimón and conduct a preliminary geochemical survey at Eliza consisting of stream sediment, soil and rock sampling. Once collected, these samples will be delivered to Acme Laboratories in Maimón for multi -element analysis including gold, silver, copper and zinc. The site is flat pastureland so it is anticipated exploration will be able to move ahead rapidly.
Following a recent site visit with a Santo Mining geologist, President Al French reports, "We are especially optimistic about this latest addition to Santo Mining's growing arsenal of precious and base metal claims. This claim together with our flagship claim "Walter" just to the east strategically places us in the epicenter of a major gold and base metal mining district. Our intent is to fast-track exploration, seek out additional claims, merge with companies that have solid synergies, and acquire near-term gold production properties. We are making excellent progress on all these counts and I see all these elements coming together soon."
About Santo Mining Corporation
Santo Mining Corporation is an aggressive junior minerals exploration and development Company, based in the Dominican Republic. The Company is actively pursuing the acquisition and exploring of properties, which are strategically located in the prolific and highly prospective Hispaniola Gold-Copper Back-Arc area in the Dominican Republic. A detailed description of the Company's activities is available at www.SantoMining.com.
The Santo Mining Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=14686
Further information on the Company and its filings can be found at www.sec.gov
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, such as the Company's exploration plans for the Walter and Eliza properties, which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Company's properties and the timing of any work program or exploration activities, and any results that may be obtained or the commencement of production.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.