SANTO DOMINGO, Dominican Republic, Nov. 12, 2012 (GLOBE NEWSWIRE) -- Santo Mining Corp. (OTCBB:SANP), (the "Company"), is pleased to announce that it is acquiring 100% of the Nathaniel gold exploration claim just East of Moncion in the Dominican Republic. This claim, of 475 hectares, is added to the Company´s growing portfolio of base and precious metal properties.
First, Nathaniel shares the mineral rich "Hispaniola Gold Copper Arc" formation with Barrick Gold's "Pueblo Viejo" mine with 25 million ounces of Gold, Perilya Gold's "Cerro de Maimón" and Goldquest's recent impressive "Romero" discovery.
Of special interest, the village of "Bulla" on the eastern side of the Nathaniel claim has a long history of gold panning and mining. As recently as the late 1950's a former Director of Mining operated a successful alluvial gold mine on the banks and terraces of the Mao River. According to a recent study by the prestigious IGME or Spanish Geological and Mining Institute they list Bulla as a "Place of Geological Interest where this village located Northeast of Moncion on the River Mao terraces was famous for panning gold in the sands during decades past". (http://mapas.igme.es/sgn/docu/LIG%205974-II%20Moncion.pdf).
Moncion also had its own mining co-operative whose members extracted gold from the surrounding ancient terraces. According to a report conducted by the Dominican Mining Office titled, "Analisis y Ordenacion de la Mineria Artesanal," the cooperative processed black sand to the south of Moncion with a gold assay of 101 g/m gold.
Santo Mining CEO Al French adds, "For years the alluvial benches around Bulla have been the focus of gold panning and sluicing gold. I have directed our exploration team to place a high priority on this area. We expect that within 90 days they will schedule a preliminary investigation on the newly acquired Nathaniel claim to identify potential hidden gold deposits of an economic scale."
About Santo Mining Corporation
Santo Mining Corporation is an aggressive junior minerals exploration and development Company, based in the Dominican Republic. The Company is actively pursuing the acquisition and exploring of properties, which are strategically located in the prolific and highly prospective Hispaniola Gold-Copper Back-Arc area in the Dominican Republic. A detailed description of the Company's activities is available at www.SantoMining.com.
Further information on the Company and its filings can be found at www.sec.gov
The Santo Mining Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=14686
Notice Regarding Forward-Looking Statements
This current report 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 press release, such as the Company's plans to acquire a number of highly prospective gold exploration properties, which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Company's properties and the timing of any work program or exploration activities, and any results that may be obtained or the commencement of production. 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 and difficulties associated with obtaining financing on acceptable terms. 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 those 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 most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Source:Santo Mining Corp.