CARSON CITY, Nev., June 16, 2015 (GLOBE NEWSWIRE) -- Del Toro Silver Corp. (OTCBB:DTOR) ("Del Toro" or the "Company") is pleased to announce that Natchez Pass LLC has secured an additional $100,000 in financing and placer mining and processing operations have begun 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.
On May 28, 2015 Natchez Pass LLC successfully closed a $100,000 private financing with Kunlong Investment LLC of Palo Alto, California. The additional operating capital facilitated uninterrupted operations at the Nick, including the successful completion of mandated regulatory agency site inspections and the commencement of placer production mining. Initial placer mining began the week of June 8 with several bulk sample test runs through the on-site processing plant. After performance modifications to the plant, the initial production run of 750 cubic yards of ore was processed on June 13th and 14th. A final cleanup and metallurgical analysis of the concentrates is planned for this week and will determine the total amount of gold produced.
Del Toro president Greg Painter states, "This is an important milestone achievement for both Natchez Pass LLC and Del Toro. Natchez has secured two rounds of financing and accomplished a great deal of work in the past few months. We are all excited to see the first gold produced at the mine and anticipate our 5% royalty payments to come on-line in the near future."
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, the results of the final clean-up and metallurgical analysis of the concentrates, the existence of commercially viable deposits on the property, 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.