DALLAS, TX — (Marketwire) — 05/17/12 — Southridge Enterprises Inc. (PINKSHEETS: SRGE) (“Southridge” or the “Company”) is pleased to announce the initial assay results from Trench #7 at Los Compadres (LC). The Company has been actively conducting a trenching and sampling program at their Los Compadres property at Santa Maria del Oro, in Nayarit, Mexico.
Samples assayed from Trench #7 at Los Compadres measured an average grade of 4.42 g/t Au at surface and were highlighted by grades measuring 16.23 g/t Au and 224.4 g/t Ag.
Santa Maria del Oro, located in the state of Nayarit, on the western coast of Mexico, is a well-known historical producing region for gold and silver. LC is situated inside the Sierra Madre Occidental belt, the world’s largest epithermal gold belt.
“Trench #7 has produced some exceptional sample grades for Los Compadres, and has defined several geological structures on the property. With the assays we have from our current trenching and sampling program, and the detailed information we collected at the property over the past several months, Southridge has confirmed that Los Compadres is an exciting gold and silver property that warrants further exploration and development,” says Michael Davies, President & CEO of Southridge. “The assay results from Los Compadres, and the recent acquisition of El Horconcito, are significant recent developments as Southridge moves forward implementing their strategy to increase the company’s footprint along the Sierra Madre Occidental gold belt.”
Additionally, Mathers Research has initiated research coverage of Southridge, with a “Speculative BUY” Opinion and a near term price target of $0.20 cents per share.
The Mathers Research report is available as a free download on the Mathers Research Website @ http://mathersresearch.com/srge-report.
For further information on the Company’s Gold and Silver projects, visit our website: http://www.southridgeminerals.com.
Southridge Investors can access the following Southridge Minerals social media channels:
About Southridge Minerals, Inc. (PINKSHEETS: SRGE)
Southridge Minerals, Inc. is a U.S.-based mineral exploration company dedicated to acquiring and developing mineral resources in geologically permissible and politically stable areas of the world. The Company seeks out early stage opportunities with good mineralization indicators that exhibit significant blue-sky potential. Southridge pursues and advances these projects that are or will be of interest to mid-size and major producers. By forming alliances on individual projects, the Company expects to develop its interests in mines operated by its partners, allowing it to continue to build value through continued exploration. Southridge is currently focused on projects in Mexico.
What sets Southridge apart is its vast experience in Mexico and the knowledge of the geological conditions and formations pertaining to known large gold deposits that have received very little attention to date. This comparative advantage, combined with a specific geographical and mineral focus, will allow for more efficient asset and income growth in the future for the benefit of shareholders’ investments.
Although the Company believes that the forward-looking statement of 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 consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company’s published current and periodic reports.