Alliance Mining Corp, proposed transaction to acquire up to a 100-per-cent interest in 22 mineral claims located primarily in the Uruachic district in northwestern Mexico has been conditionally accepted by the TSX Venture Exchange. Final acceptance of this submission will be conditional upon the company satisfying the filing requirements including the review of the recently submitted technical report entitled Technical Report On The Pelonachi and El Indio Concessions Sierra Madre Occidental, State of Chihuahua, Mexico.
This report covers all of Alliances gold assets that now sit in the middle of Fresnillos landholdings that contain the Orisyvo gold discovery, which is currently at 9.6 million gold. Agnico-Eagles Las Bolas project also sits adjacent to Alliances assets in the middle of Fresnillos holdings. This report provides the first comprehensive summary of exploration data in over 10 years since the discovery of the nearby Orisyvo deposit (see map on the companys website).
Alliance, which sits in the middle of Fresnillos landholdings, has spent a modest amount to date, approximately $200,000 in due diligence expenses and other expenditures required under the proposed option agreement to keep the property in good standing. Fresnillo has recently spent in excess of $100-million, and it has recently been reported that it plans to spend an additional $800-million expanding the Orisyvo discovery.
Alliances neighbour Agnico-Eagle is also active, and has initiated a $5-million drill and exploration program at Las Bolas.
The Mexican government has also become an active participant as a result of the Orisyvo discovery, and it is currently paving the 45-kilometre gravel access road leading to Uruachic.
Alliances land package is 50 square kilometres (4,872 hectares) in the Uruachic district of northwestern Mexico. Alliances package was staked prior to the Orisyvos discovery and was done to cover many historic mine workings from the 18th Century and 19th Century. To learn more about Fresnillo PLCs important Orisyvo discovery, visit Fresnillos website. Fresnillo is the second-largest gold producer in Mexico and the worlds largest silver producer.
Patrick Forseille, PGeo, a qualified person as defined by National Instrument 43-101, is responsible for the technical information contained in this release.
Alliances land package contains several assets that could be stand-alone opportunities. However, the company plans on making only one asset available for joint venture, any parties interested in exploring this opportunity should contact the company.
Alliance has an option on this property by way of an option agreement which is pending TSX Venture Exchange approval including acceptance of the recently filed NI 43-101 report.
Alliances shareholders voted in favour of all items of business brought before them at the companys annual general meeting held on June 28, 2013, in Vancouver, B.C.
The shareholders voted in favour of all nominations, with Chris Anderson, Travis Snider, Patrick Forseille and Tony Claydon being re-elected to the board. Watson Dauphinee and Masuch LLP was reappointed as auditor of the company, and both the companys stock option plan and share consolidation of up to a maximum of 15 old common shares for one new common share were also approved by the shareholders.
The board confirmed the positions for the audit committee and also reconfirmed the chief financial officer position.
Alliance mining has been focused on acquiring and delineating highly prospective gold and silver mineral properties in Arizonas most prolific gold producing area Yavapai County, located in central Arizona. Over the past decade the company has built up an extensive inventory of geologically significant properties, most of which have had gold and silver production in the past century.
The Company also has a 100% interest in nearly 50 square kilometers (4,872 hectares) primarily in the Uruachic district of northwestern Mexico. The land package puts Alliance in the heart of a prolific gold exploration area and includes the closest privately held claims, within four kilometers, to Fresnillo PLCs important Orisyvo discovery. Fresnillo is the second-largest gold producer in Mexico and the worlds largest primary silver producer.
ON BEHALF OF THE BOARD
Mr. Christopher R Anderson,
CEO, President, Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
Christopher R Anderson