CARSON CITY, Nev., May 21, 2015 (GLOBE NEWSWIRE) -- Del Toro Silver Corp. (OTCBB:DTOR) ("Del Toro" or the "Company") is pleased to announce that placer mining operations are scheduled to commence at the Natchez Pass Gold Property (AKA the "Nick"). Del Toro owns a 5% Net Smelter Royalty ("NSR") on gold production at the Nick mine, and will receive 5% of the net proceeds from any sale of the Nick to a third party, with a $300,000 minimum return from such sale.
The required commencement notices have been submitted to the Nevada Department of Environmental Protection, the Nevada Division of Mining, the Bureau of Land Management and the Mine Safety & Health Administration. Regulatory agency site inspections are scheduled to begin this week. The placer mining program will be initiated immediately after satisfactory completion of the inspections. Earth moving equipment has been delivered to the site, the wash plant upgrade is completed and a work crew has been hired to facilitate placer production operations of the mine. Members of Del Toro's mining team will consult in the operations.
Del Toro president Greg Painter states, "Natchez Pass LLC has successfully completed the initial work program to prepare the mine for placer production as scheduled and within budget. We are excited to see the mine go into operation and anticipate future revenue for the Company on the 5% NSR that Del Toro holds on the mine."
About Del Toro Silver Corp.
Del Toro Silver Corp. is a precious metals exploration and development company based in Carson City, Nevada. Del Toro's corporate strategy is to focus on the acquisition and development of high grade, near term production gold properties in California and elsewhere in the Western United States. Management believes that this promising niche market offers many opportunities that have been largely ignored or overlooked by competing junior gold companies.
For further information, please contact Greg Painter at 775-782-3999.
On behalf of the Board of directors,
"Patrick A. Fagen"
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 news 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, scheduling of commencement of operations, the successful completion of regulatory agency inspections, the obtaining of regulatory approvals, the existence of commercially viable deposits on the Property, preparation of the mine for production, time frames to commence mining activities, consulting role for the Company, any future production that may be achieved or any revenue that may be generated by the Company as a result of the NSR.
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 2013 fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Source:Del Toro Silver Corp.