CARSON CITY, Nev., Oct. 4, 2012 (GLOBE NEWSWIRE) -- Del Toro Silver Corp. (OTCBB:DTOR) ("Del Toro" or the "Company") announces that, on September 27, 2012, the Company executed an Amendment to the August 31, 2012 Partial Purchase Option Agreement with Natchez Pass LLC for the Natchez Pass Gold Property located in Pershing County, Nevada ("Property").
Under the terms of the Amendment, Del Toro intends to conduct its physical, on-site due diligence through Valley Excavating LLC (Valley), a Virginia domestic limited-liability company. Valley was a previous operator of the Property and will perform all work as an independent contractor, furnishing the equipment, manpower and insurances necessary to perform the due diligence work plan. Profits from any gold produced during the due diligence testing will be split accordingly: Del Toro 60%, Natchez Pass LLC 20% and Valley 20%.
Mobilization of equipment to the site is expected to begin October 8, 2012 with the due diligence testing fully commenced shortly thereafter.
About Del Toro Silver Corp.
Del Toro Silver Corp. is a precious metals exploration and development company based in Carson City, Nevada. Under new management since September 2011, 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, among other things, the successful completion of due diligence, the completion of the bulk sampling program and a mining plan on the Property, the satisfaction of any of the conditions under the Option Agreement, the existence of commercially viable deposits on the Property, or any future production that may be achieved.
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 2011 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.