CARSON CITY, Nev., April 1, 2013 (GLOBE NEWSWIRE) -- Del Toro Silver Corp. (OTCBB:DTOR) ("Del Toro" or the "Company") is pleased to announce that, on March 8, 2013, Del Toro Silver Corp. signed a Joint Venture Partnership Terms Agreement with Noble Mining Inc. with respect to the development of a prospective toll milling facility in the western United States.
Pursuant to the terms agreement, Noble Mining will provide financing of up to $6,000,000 for the acquisition, development, permitting and operating capital for the toll milling partnership. Del Toro will be responsible for (1) securing and delivering the toll milling facility and obtaining the necessary permitting in order to process ore, (2) locating and contracting customers to process ore through the toll mill, and (3) managing day to day operations of the toll mill.
The initial capital investment will have preference payback features and Noble Mining and Del Toro will waterfall into a 50/50 profit split once the initial capital is repaid. The parties will mutually determine the terms of the preference payback in due course. Noble Mining and Del Toro will also partner together with respect to the acquisition of mines that they may encounter through servicing the toll mill customers.
"This JV is a major achievement in progressing Del Toro's business model of acquiring high-grade, near term production gold properties in the western US. The most onerous issue for the development of these mines is the permitting of an on-site mill. We are confident that an accessible toll milling facility will facilitate the process for additional mines to obtain operating permits and provide the Company with many new JV and/or acquisition opportunities." states Del Toro president Greg Painter. "We are especially pleased to partner with Noble Mining (www.noblemining.com) on what we believe will be the first of many promising mining ventures."
The Joint Venture Partnership Terms Agreement will terminate 180 days from March 8, 2013.
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"
About Noble Mining, Inc.:
Noble Mining is a catalyst to the mining industry and helps navigate and explore promising investment opportunities in the precious metals industry. Precious metals are essential tools for wealth preservation. These tools, once held in low regard have once again taken on a prominent role in planning for diversification. However, just like any tool, without the right understanding and training the opportunity could be dangerous. Noble Mining is a lighthouse in this economic storm that many individuals and companies lack the knowledge and tools to navigate. Jason Otteson and Noble Mining have been featured on Season 2 & 3 of Discovery's Gold Rush Hit Show as the Trusted Investor and Advisor who brought the needed resources to catapult the miners towards success.
Contact Noble Mining, Inc.:
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, development of a toll milling facility, securing and delivering the toll milling facility and obtaining the necessary permitting in order to process ore, locating and contracting customers to process ore through the toll mill, managing day to day operations of the toll mill, and will facilitate the process for additional mines to obtain operating permits and provide the Company with many new JV and/or acquisition opportunities.
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 2012 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.