WILMINGTON, Del., Jan. 6, 2012 -- Auric Mining Company (OTC: AUMY.PK) (the "Company") is pleased to report that initial deposit on the Greenstone deposit has been paid and they are now starting the legal process to close the purchase and sale agreement.
The Abitibi Greenstone Belt is where nearly a billion grams of gold have been produced to date and is near some of the largest gold reserves in Canada. It is the Company's belief that the claim is strategically situated to benefit from results of nearby operators. The target property is approximately halfway between the Main Break and the Larder Break/Bidgood Trend and north of the Larder Lake Fault, the main focus of gold mineralization is known as the Mile of Gold. Once the purchase is complete, applying geological, geochemical and geophysical work to it may be used to determine this patented claim's true value to our operations. The Company has both legal and financial obligations to complete before possession and any work can be started in the spring of 2012.g program, air magnetic survey and geophysical work will determine these multiple claim's true value to our operations. The company has both legal and financial obligations to complete before possession and any work can be started in the spring of 2012.
About Auric Mining Corp.:
(Auric or the Company) is doing business as an investment and management company in mining and natural resources projects. The Company continues to focus its resources on investing in attractive projects with the objective of establishing ongoing cash-flow and provide profitability for its shareholders.
Auric has researched through numerous databases of private and public natural resources companies which have substantial findings already proven. Auric will either purchase, joint venture or invest in these companies. The Company is constantly seeking acquisition opportunities with significant exploration upside in the form of entire companies or packages of assets that provide an undeniable possibility of hosting base and precious metal mineralization. With unparalleled instincts for successful mineral projects, a field-oriented management style and a flat organizational structure, the Company has an ability to concentrate its financial assets, human resources and field efforts to provide timely decisions and a continued focus on the most prospective targets. The company has a number of claims strategically located in this historic mining district. Auric has undertaken significant efforts to assure its shareholders and potential investors that the properties it explores deserve the investment of time, effort and financial commitment necessary to establish successful mineral production in the future.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 - forward-looking statements concerning plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and services demand and acceptance, changes in technology and in economic, political and regulatory conditions and to all of the risks generally associated with a company at Auric Mining's stage of development. All such forward looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.