October 11, 2016 - News Release
Del Toro Silver Executes Option Agreement to Acquire Mt. Vernon Gold Mine
Del Toro Silver Corp. (OTCPink:DTOR) (“Del Toro” or the “Company”), California’s next high-grade gold miner, is pleased to announce it has signed an option agreement effective October 4, 2016 to acquire 100% of the Mt. Vernon Gold Mine. This past-producing mine is located near Downieville, in one of the richest districts in California’s Mother Lode Belt. Situated on the east edge of the Melones Fault, Mt. Vernon is on trend, adjacent to, and upstream from numerous historical high-grade gold mines.
Minimal exploration has been done on the property since it was drilled by Kennecott in 1990. Del Toro’s due diligence has uncovered evidence of an extensive underground placer deposit and high-grade gold bearing quartz veins. Historical reports indicate that large nuggets, including one of over 90 ounces, have been found on the claims.
Commenting on the option agreement and planned acquisition of the Mt. Vernon Gold Mine, Patrick Fagen, CFO, said, “We are pleased to secure an exclusive option on the Mt. Vernon and will complete our due diligence in the near future. Our experience with California mines leads us to believe that this is one of the best mines in the area in terms of access, grade, infrastructure and feasibility. We intend to work closely with Lazarus to advance the property during the option period.”
About Del Toro Silver Corp.
Del Toro Silver Corp. (OTCPink:DTOR) is an exploration and development company focused on high-grade, past producing gold mines in the Western US. The Company’s leadership team has experience acquiring and permitting projects in California and Nevada. Near term opportunities and priorities include advancing the Discovery Day and Mt. Vernon gold mines, two high-grade past producers located in Northern California. The Company also holds a royalty on the Natchez Pass Gold Property located in Imlay, NV.
For further information, please contact Patrick Fagen at 530-416-0266.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, California’s next high-grade gold miner, planned acquisition, completing due diligence, work closely and advancing the property or properties. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume 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 we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission