September 22, 2010
Thu, 09/23/2010 - 11:20 | by deltoro
DEL TORO SILVER CORP.
Suite 400 – 409 Granville Street
Vancouver, BC, V6C 1T2
Telephone: (604) 678-2531
NEWS RELEASE Trading Symbol OTCBB:DTOR
Del Toro Silver Signs Letter of Intent for Orofino Gold-Silver Project
Vancouver, British Columbia (September 22nd, 2010) – Del Toro Silver Corp. (OTCBB: DTOR) (“Del Toro” or the “Company”) is pleased to announce they have signed a non-binding letter intent to acquire a seventy percent (70%) undivided interest in the Orofino Property (the “Property”) in the state of Sonora, Mexico.
The Property consists of 17 concessions totaling 8,291 hectares. In the early 1990's Minera Teck S.A. de C.V. completed over 6,000 meters of reverse circulation drilling producing highlighted results of 3.89 g/t gold over 8 meters true width and 2.54 g/t gold and 71.3 g/t silver over 7.6 meters; and channel chip samples of highly altered rock reported to have assays of over 50g/t gold. There are currently 10 known mineralized targets and two strong silica, iron-oxide anomalies defined on the Property. Small scale historic production from the Orofino open pit during the mid 1990’s produced a reported 60,000 tonnes of ore grading approximately 7 grams per tonne gold.
Mark McLeary, the Company’s President states “acquiring Orofino would be a major acquisition for the Company. There is a large amount of data available from previously completed work programs together with multiple drill-ready targets”.
The above results are based on information obtained from the NI 43-101 Technical Report on the Orofino Property dated June 5, 2006 prepared by Mitchell Geologic Services Inc. (available here ). All of the samples mentioned in this release were taken by previous owners and operators of the Orofino Project. Preparation and analysis of the samples were done at various laboratories. The reader is cautioned that the results mentioned in this news release are only the highlights and do not represent all of the known results. These results should be considered 'historical' in nature and not relied upon without additional due diligence.
The Letter of Intent is for discussion purposes only and does not constitute a binding agreement or commitment of any nature between the parties. The Transaction is subject to the parties respective due diligence investigations and the entry into a Definitive Agreement on customary terms. There is no assurance that the transaction will be completed as planned or at all.
For further information, please contact Mark McLeary at 604-678-2531.
On behalf of the Board of directors,
“Mark A. McLeary”
Forward Looking Statements
Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and should be viewed as “forward-looking statements”. Forward looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the United States Securities and Exchange Commission (the “SEC”) (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Factors that may cause our forward looking statements to vary include, but are not limited to: our due diligence investigations on the Orofino Property and our ability to complete a definitive agreement on the acquisition of the property, our ability to obtain additional financing, inaccurate estimates of reserves, the inability to obtain the necessary approvals for the further exploration and development of all or any of the Company's prospects; risks inherent in the mining industry; the number of competitors in the mining industry with greater technical, financial and operations resources and personnel; uncertainty about requirements demanded by environmental agencies relating to the Company's projects, the effect of economic and business conditions, the ability to attract and retain skilled personnel and factors outside the control of the Company. These forward-looking statements are made as of the date of this news release, and the Company assumes 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.