Science & Technology
Science and Technology
Science and Technology
Tue, June 30, 2009
Mon, June 29, 2009
Quri Resources, Inc.: Quri Resources Inc. Acquires La Conquista
QUITO, ECUADOR--(Marketwire - June 29, 2009) - Quri Resources, Inc. (
Quri Resources, Inc. announces today that it has acquired 100% interest in the Conquista Gold mines, (990 hectares). This property is located 150 kilometers northwest of Quito. Conquista has 2 working mines, the Santa Teresa and Palanzuro. Free gold can be observed and concentrations of up to 10 grams per ton are present. Past production in addition to continued sampling have shown probable gold deposits exceeding management's original expectations. It is the intention of the company to begin production within 3 months.
Eduardo Muñoz, VP of Quri Resources, Inc. stated, "We have been on site for 5 months studying the property, today our plans materialized. It gives me great pleasure to see the company moving towards growth and success. We are slowly transforming from a junior exploration company to a gold producing company. Ecuador is moving closer to becoming one of the important mining sectors in the Americas and we want to grow along with the country. Kinross just finished its acquisition of Aurelian; Dynasty Minerals, Corriente, Nortec Ventures, International Minerals Corp, just to name a few are among some of the majors also positioned in Ecuador, we are amongst good company. Everyone should expect to hear more exciting news in the near future." Mr. Muñoz also stated, "We should be able to go into production with La Conquista in the next 3 months starting production at approximately 4kilos of gold per month and at today's gold prices we are looking at a revenue stream of $100,000 per month. We should be able to increase our production to 10kilos of gold per month 6 months after we begin operations, bringing our revenues up over $280,000 per month. This would certainly enhance our cash position allowing us to continue our intensive exploration of the area. Needless to say, we're ecstatic with the course we've taken today."
For more information contact [ info@quriresources.net ]
Quri Resources is a U.S.-based junior mining company committed to the exploration, discovery and development of gold, silver, copper and other mineral resources. Quri Resources, Inc. holds mining rights and mineral concessions throughout Ecuador. These concessions are in different stages of exploration and development.
Founded by professionals with unmatched expertise in the mining industry in South America and North America, we are working for a better future for our customers, neighbors, and shareholders. We are committed to exploring responsibly, maintaining environmentally friendly policies while impacting the local economy in an exponentially positive manner that will allow our shareholders to take pride in their investment.
For more information about us, please visit our web site [ www.quriresources.net ]
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
