ALM.V Acquires Claims Contiguous With Agnico-Eagle's Las Bolas
Property and Fresnillo's Orisyvo Discovery, Mexico
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/01/12 -- ALLIANCE
MINING CORP. (TSX VENTURE:ALM) is pleased to announce that it has
signed a binding Letter of Intent with a private Canadian company to
acquire 22 mineral claims totaling nearly 50 square kilometres (4,872
hectares) primarily in the Uruachic district of northwestern Mexico.
The land package puts Alliance in the heart of a prolific gold
exploration area and includes the closest privately held claims,
within four kilometres, to Fresnillo PLC's important Orisyvo
discovery (www.fresnilloplc.com). Fresnillo is the second-largest
gold producer in Mexico and the world's largest primary silver
"This represents a major step forward for our Company as we
strategically build upon our strong assets in Arizona with an
exploration push into one of the most exciting gold regions in the
world," explained Alliance Mining President and CEO Chris Anderson.
One of Alliance's properties is contiguous to the southern boundary
of the Las Bolas Gold-Silver Property being explored aggressively by
Four claims or approximately 1,400 hectares in Alliance's package are
subject to a joint venture agreement with Comstock Metals. These
claims (the "Corona" Project) are located about 15 kilometres west of
Patrick Forseille, P. Geo., a Qualified Person as defined by NI
43-101, is responsible for the technical information contained in
Under the terms of the binding Letter of Intent, Alliance, as
operator, can acquire a 100% undivided interest by making cash
payments of $1,000,000 over four years and issuing 1,000,000 shares
over four years. Exploration commitments of $220,000 are required
prior to year end (2012) and the vendor will retain a 1% net smelter
About Alliance Mining:
Alliance mining has been focused on acquiring and delineating highly
prospective gold and silver mineral properties in Arizona's most
prolific gold producing area - Yavapai County, located in central
Arizona. The Company has built up an extensive inventory of
geologically significant properties, most of which have had gold and
silver production in the past century.
ON BEHALF OF THE BOARD
Mr. Christopher R Anderson, CEO, President, Director
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Alliance Mining Corp.
Christopher R Anderson
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