Trulan Signs Letter of Intent To Acquire Iron, Gold, Platinum and High Value Industrial Mineral Deposits.
HENDERSON, Nev., Feb. 22, 2013 /PRNewswire/ -- Trulan Resources Inc. (OTCPK:TLAN) (the "Company" or "Trulan") is pleased to report that it has entered into a Letter Of Intent ("LOI") with a privately held South American mining concern (the "Vendor") to ultimately acquire gold, platinum and industrial minerals deposits in Chile.
General provisions under the Letter Of Intent dictate that the preponderance of information relating to the project (hereinafter referred to as the "Project" or "IGP") is to remain confidential while Trulan continues its due diligence and evaluation of the Project and deposits that comprise the IGP. However, certain information has been made available in order to outline the scope of the Project as it relates to the Company's implementation of its strategic corporate plan.
The Project, which covers a large land area, has been previously explored and tested by the Vendor to the point where a substantial data package has been compiled and a preliminary report was written and provided to Trulan which outlines the potential of numerous deposits on the property. The report states that the Indicated Ore reserves, thus far, are in excess of 160 Million Metric Tons and are predominantly comprised of Iron, Gold, Platinum and other valuable industrial minerals. Each of the deposits has been delineated to the point where they conform to SEC Industry Guide 7: Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations, and the ore bodies described in the report fall within the 'Indicated' category. The deposits remain open and have not been fully tested to determine their final depth. Further drilling will determine the ultimate size and long term economic potential of the ore bodies.
Given the geologic nature of the IGP deposits in general, the Project does not require extensive and expensive ongoing exploration or development. The ore bodies are considered to be clean, which is to say that there are no contaminants or overburden of any consequence on the Project deposits.
The preliminary report provided by the Vendor outlines three potential sources of revenue from the ore bodies; heavy mineral components, light mineral components, and the economic potential of the unexplored bedrock beneath the deposits.
Trulan believes the IGP is a significant property of merit and falls within its parameters for potential acquisition or joint venture based on project size, available data, previous metallurgical testing, relative ease of near-term entry into production and additional exploration potential. Final determination of the Project's suitability will be made following the review of the data provided, confirmation of the results published in the preliminary report, and analysis of pertinent corporate matters as they may relate to the due diligence process.
Trulan Resource's Mission is the exploration and development of mining properties whose economic potential is considered to be extensive, while requiring minimal infrastructure and operational costs, that can be advanced in an environmentally responsible manner.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. For more information please contact Corporate Relations at 702-430-4690 or email@example.com
President & CEO
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS," AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL AND QUARTERLY REPORTS FILED AND PUBLISHED ON WWW.OTCMARKETS.COM, RESPECTIVELY, AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY''S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY''S EXPLORATION EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES 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 THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED AND PUBLISHED FROM TIME-TO-TIME ON WWW.OTCMARKETS.COM
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
SOURCE Trulan Resources Inc.