Blue Grass Claim Acquisition
The Company is pleased to announce the signing of a definitive agreement between
Under the terms set forth in the agreement
OSMI will receive 100% surface and mineral ownership of the Blue Grass claim located contiguous to current underground workings. In aggregate, the Blue Grass acquisition provides OSMI access to over 7,500 feet (2,286 meters) of additional high grade vein that is contiguous to the existing 4,000 feet (1,219 meters) of vein containing approximately 15 million M&I silver ounces (80% of OSMI's current 43-101 compliant resource) @ an average silver grade of approximately 22 ounces/ton. The current Virginius M&I resource is contained in approximately 4,000 feet (1,219 meters) of contiguous strike length on the Monongahela, Virginius and
Caldera will receive OSMI's 62.08% surface and mineral ownership in the Hidden Treasure and
The Blue Grass Claim is in an area that is accessible by road and can be drilled from surface.
Management Change
In addition,
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CAUTIONARY NOTES
This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words 'anticipate', 'plan', 'continue', 'expect', 'estimate', 'objective', 'may', 'will', 'project', 'should', 'predict', 'potential' and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning, without limitation, statements relating to the Private Placement (including with respect to the timing of closing of the Private Placement). Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the receipt of regulatory or shareholder approvals, and risks related to the state of financial markets or future metals prices.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.
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