Bullfrog Gold Summarizes Corporate and Project Progress
GRAND JUNCTION, Colo., Nov. 5, 2013 (GLOBE NEWSWIRE) -- Bullfrog Gold Corp.
(OTCBB:BFGC) ("Bullfrog" or the "Company") is pleased to report corporate and
project progress from its inception in 2011.
Completed a reverse merger: July 17, 2011
Engaged personnel: Completed September 2011 (Corporate and Project)
First trading date: October 11, 2011
Private equity financings: $3.6 million in September 2011
$2.3 million from November – February 2013
Debt facility: $4.2 million in December 2012 from a subsidiary of
Rand Merchant Bank.
Newsboy Project, 45 miles NW of Phoenix, AZ
*Drilled 22,995 feet in 74 RC holes during three drilling programs. Table I
summarizes eight specific holes drilled in a new area of the Main deposit.
Table II summarizes four specific holes drilled in the Queen of Sheba
area, which is 2.5 miles west of the Main deposit. Complete results of the
Company's three drill programs were reported in press releases of May 1,
2012, August 28, 2012 and April 2, 2013.
Drill Results – Main Deposit Area
Hole ID Program Mineral Intervals Thickness Gold Silver
Year - No. Phase From To Feet opt opt
12 - 11 1 375 425 50 0.084 0.176
12 - 37 2 380 425 45 0.066 0.27
12 - 42 2 385 420 35 0.027 0.12
455 495 40 0.042 0.08
13 - 57 3 295 305 10 0.028 0.05
335 340 5 0.077 0.02
13 - 58 3 385 415 30 0.064 0.49
13 - 62 3 290 340 50 0.044 1.28
360 365 5 0.129 0.34
13 - 63 3 330 355 25 0.034 2.14
13 - 65 3 210 230 20 0.054 0.56
Average per Hole 381 39 0.054 0.55
Interval Cut-off Criteria:0.015 gold opt and a Grade x Thickness product of
0.25 feet x opt
Drill Results – Queen of Sheba Area
HoleID Mineral Intervals,Feet Gold Silver
Year--No. From To Thickness opt opt
13--48 0 25 25 2.801 0.17
Includes 10 15 5 13.856 0.48
390 400 10 0.042 0.05
13--49 10 25 15 0.029 0.18
13--50 40 45 5 0.017 0.14
65 70 5 0.016 0.02
13--51 60 65 5 0.016 0.08
*Acquired substantial additional project information from previous
*Acquired 160 lode mining claims that increased the Newsboy Project land
area to 7,160 acres.
*Completed in October 2013 the conversion of old drill paper data into
electronic format and vetted all data with respect to QA/QC protocols.
*Continue to examine several exploration target areas and planning of a
proposed Phase 4 drilling program. The map below shows eight significant
exploration targets and the Main deposit.
A map of the Newsboy Gold Project is available at
Bullfrog Project, 120 miles NW of Las Vegas, NV
*Collected and analyzed all relevant data. Interviewed three exploration
managers that explored, discovered and developed the south half of the
Bullfrog Mining District and produced 3 million ounces of gold from the
mid-1980's through late 1990's.
*Developed and submitted an exploration program to the US Bureau of Land
*Evaluated land status.
Klondike Project, 35 miles NW of Eureka, NV
*Examined the project in late 2011 and mid-2013.
*Entered an Option to Purchase and Royalty agreement in June 2012 on 64
lode mining claims.
*Located an additional 168 lode mining claims to cover all lands believed
to have shallow and deep exploration potential mainly for silver but with
potential by-product, lead, zinc, copper and barite mineralization.
*Thoroughly analyzed a 1977 geology report that defines several shallow
exploration targets and projects a mineral inventory of more than 50
million tons. Developed an exploration program that is drill ready.
*Received approval from the BLM to drill 60 holes under a "Notice of Intent
The Company continues to seek, examine and pursue quality acquisitions and
business opportunities. Our objectives are to close selective deals that are
financeable in the current market while growing the Company and adding value
to our shareholders. Criteria for this initiative include projects having the
*Advanced status with significant tonnages and grades of resources and/or
reserves that are compliant with Canadian and US mining standards.
*Financial performance projections deemed adequate to raise equity funding
under current market conditions.
*Politically stable venues acceptable for performing exploration,
development and production operations, primarily in North America.
*Gold and silver resources that may contain base metal by-products.
In this regard, current depressed metal prices have now developed better
opportunities to make strategic acquisitions and build the Company.
Notwithstanding, the Company may not be successful in completing or
integrating such acquisitions or business opportunities.
More information on the Company and its projects may be obtained from
www.BullfrogGold.com, emailing info@BullfrogGold.com or calling (970) 628 -
David Beling, President, CEO & Director
The Bullfrog Gold Corp. logo is available at
Cautionary Note Regarding Forward Looking Statements
This press release may contain certain "Forward-Looking Statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included herein
including those with respect to the objectives, plans and strategies of the
Company and those preceded by or that include the words "believes," "expects,"
"given," "targets," "intends," "anticipates," "plans," "projects," "forecasts"
or similar expressions, are forward-looking statements that involve various
risks and uncertainties. The Company is presently an exploration stage
company. Exploration is highly speculative in nature, involves many risks,
requires substantial expenditures and may not result in the discovery of
sufficient mineral deposits that can be mined profitably. Further the price
of minerals and resources is highly volatile.The Company currently has no
reserves on any of its properties. While the Company believes these
forward-looking statements are reasonable, undue reliance should not be placed
on any such forward-looking statements, which are based on information
available to us on the date of this release. These forward looking statements
are based upon current estimates and assumptions and are subject to various
risks and uncertainties, including without limitation those set forth in the
Company's filings with the Securities and Exchange Commission (the "SEC"), not
limited to Risk Factors relating to its business and properties contained
therein. Thus, actual results could be materially different. The Company
expressly disclaims any obligation to update or alter statements whether as a
result of new information, future events or otherwise, except as required by
law. As a result, this press release should be read in conjunction with the
Company's periodic filings with the SEC.The Companies filings are available
Press spacebar to pause and continue. Press esc to stop.