LAS VEGAS, Oct. 7, 2015 (GLOBE NEWSWIRE) -- Transnational Group, Inc. "Transnational" (TAMG), today announced that it has entered into a mining lease ("Agreement") with the Nevada Outdoor School (NOS) to secure full rights to mine gypsum on several claims located in southern Nevada that comprise the Mount Vista Gypsum Property.
According to the Agreement, Transnational has acquired full mining rights of any gypsum that is located on the Mount Vista property in exchange for a production royalty. There are 12 claims included in the lease Agreement that comprise a total of 460 acres. The term of the Company's mining lease for Mount Vista is 10 years with three 5-year renewable options.
"Transnational is excited to announce the finalization of our agreement with the Nevada Outdoor School that will allow us to mine gypsum and limestone contained in Mount Vista at an agreed upon royalty. This agreement enables the possibility of discovery and mining other valuable minerals and metals as well," stated CEO of Transnational Group, Dr. Philip Dutoit.
The agreement stipulates that the Company will negotiate a separate royalty agreement with the NOS for each resource.
"We have been working diligently to execute this lease for several months now following positive test results that show Mount Vista is estimated to contain significant amounts of commercially viable, high grade gypsum. Now that we have finalized the agreement, we are in a better position to expedite the permitting process for this property with the Bureau of Land Management and hope to begin operations at Mount Vista in the coming months as well as potentially acquire other strategic properties in the area that are rich in gypsum and other resources," concluded Dr. Dutoit.
Earlier this year, Transnational Group executed a Letter of Intent (LOI) with the Nevada Outdoor School, a 501(c) (3) non-profit corporation, to acquire the mining rights to the Mount Vista Gypsum Property. Following positive sample results that showed signs of high grade gypsum in the mining claims area being negotiated, the Company moved into the contract phase culminating in a final leasing agreement being reached for the property.
About Transnational Group, Inc.
Transnational Group is a mineral and natural resource exploration company focused on acquiring and mining mineral-rich assets in the Southwestern United States. The Company's mission is to acquire properties rich in high-grade gypsum and other minerals that have the potential for long-term production and sustainable revenue generation. Transnational is continuously exploring strategic acquisition, partnership and joint venture opportunities that can increase its capital, equipment and natural resource assets.
Cautionary Note to U.S. Investors: The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," or "inferred," which may not be consistent with the reserve definitions established by the SEC. U.S. investors are urged to consider closely the disclosures in our reports filed with the OTC Markets Group, Inc.
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control.
CONTACT: 888-959-7095 firstname.lastname@example.orgSource:Transnational Group, Inc.