ALBUQUERQUE, NM, Jan 12, 2012 (MARKETWIRE via COMTEX) — Lone Star Gold, Inc. /quotes/zigman/5448492 LSTG +22.07% (“Lone Star” or “the Company”) is pleased to provide a break-down of activities happening or due to happen surrounding Phase 1 of work on the 65% interest in the San Antonio del Potrero mine tailings project (“Tailings Project”).
The following activities currently underway are all necessary steps needed to be completed prior to processing the Tailing Pile and ultimately seeing revenue earned.
PHASE ONE ACTIVITIES:
— Lone Star Gold team currently on the ground in Hidalgo del Parral and
are finalizing an updated resource estimate and detailed report
regarding the San Patricio tailings pile. This is expected to be
finalized this coming week. The report will cover recent assays from
the entire pile at various depths and a surveyed estimate of the total
— The report will cover the location and details regarding the
construction of the processing plant scheduled to start before the end
of the year, including access to industrial power lines and an
eighteen-inch water source. Both utilities are located within 2
kilometers of the proposed plant location.
— All legal documentation involved with the formation of Mexican
operating companies has been filed and all formal agreements are
currently being finalized.
— The leaders of the surrounding Ejido (Native Band Leaders) have signed
off and agreed to the processing of the estimated 1.2 million tons.
— The processing plant in the city of Parral being used for rapid start
up is prepared to start receiving a minimum of 100 tons per day
expected February 1st.
— Security, office, trucking and labor are currently being sourced in
the City of Parral and Lone Star expects to have a full team in place
for Feb. 1 (Parral has a long mining history which started over 350
years ago during the Spanish occupation. During that time, Parral was
considered the Silver Mining Capital of the world).
Lone Star’s President, Daniel Ferris, commented: “We believe the new assay results will show higher base metal content the deeper we go into the pile. Our team estimates the bottom of the pile was processed over 100 years ago. Technology at the time was missing up to 50% of the precious metals, therefore we are very excited to move forward and commence processing.”
According to information provided to Lone Star by the current owners, the project represents a resource of 1.2 million tons of mine tailings.
ADDITIONAL INFORMATION To learn more about the Tailings Project, the Company, and regular news updates, visit Lone Star Gold’s official website: http://www.lonestargold.com .
ABOUT LONE STAR: Lone Star Gold, Inc. is a publicly traded /quotes/zigman/5448492 LSTG +22.07% gold exploration and development company based in Albuquerque, New Mexico. The Company’s aggressive acquisition and exploration approach is strategically focused on proven, stable precious metal regions in America and Mexico. Currently, Lone Star has a 70% Working Interest in concessions covering 800 hectares in the La Candelaria project in Chihuahua, Mexico, which the Company is evaluating to determine the potential sites that represent the best potential for silver and gold deposits. Lone Star also has an option to purchase a 70% interest in the Ocampo Project, a 570-hectare gold-silver project in Chihuahua State, Mexico, and an option to purchase an undivided 65% interest in the San Antonio del Potrero mine tailings project in the city of Hidalgo Del Parral in the state of Chihuahua, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS,
Lone Star Gold, Inc. Daniel Ferris, Company President
This press release contains statements that are forward-looking and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on Lone Star Gold, Inc.’s current expectations and projections about future events, based on information currently available. The forward-looking statements found in this press release may also include statements relating to Lone Star Gold, Inc.’s anticipated financial performance, business prospects, new developments, strategies, and similar matters. Lone Star Gold, Inc. provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release. Lone Star Gold, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this press release, such as “measured,” “indicated,” and “inferred” “resources,” which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from our website at http://www.sec.gov/edgar.shtml .
Lone Star Gold, Inc.
6565 Americas Parkway NE, Ste 200
Albuquerque, New Mexico
Toll Free: 1-800-986-9358
E-mail: [email protected]