Company Transitions from Exploration to Mining Operations Proving
Viability and Providing Cash Flow
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTCQB: ECPN) announced today that it
has realized the first payment on a large purchase order for the sale of
high-quality iron ore. This revenue represents the beginning of what
Company officials believe will be an on-going revenue stream—and this
operating cash flow, in effect, transitions the Company from an
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exploration company to a mining operations company.
ECPN President and CEO, Chuck Mottley, reported that the complete mining
system that is now in place and operational at the New Mexico mine site
has created two product lines: high-quality iron ore for use in
construction and precious metals concentrates for smelting.
In addition to iron ore production and sales, and simultaneously,
high-value precious metals concentrates are being processed by the
Company’s AuraSource heavy-metals separation system at the mine
site. The precious-metals-rich concentrates will be offered at
competitive prices to previously identified prospective buyers. This is
a positive revision to and expansion of our business plan that is based
on both iron ore and precious metals sales.
According to ECPN Board Chairman John F. Stapleton, “The iron ore
revenues not only cover the costs of mining and crushing operations, but
provide stability and positive cash flow for the Company.”
Mottley added that this revenue generation represents “a major milestone
in the decades-long history of the El Capitan property” and that these
accomplishments are “examples of the Company achieving its established
goals despite the challenges of the current international economy and
mining climate.”
Photos of on-site operations and a video of mining and crushing
operations can be viewed on the ECPN website: www.elcapitanpmi.com
About El Capitan Precious Metals, Inc.:
El Capitan Precious Metals, Inc. is a mining company based in
Scottsdale, Arizona that is principally engaged in the mining of
precious metals and other minerals. The Company’s primary asset is its
wholly owned subsidiary El Capitan, Ltd., an Arizona corporation, which
holds the 100% equity interest in the El Capitan property located near
Capitan, New Mexico. www.elcapitanpmi.com
Forward-Looking Safe Harbor Statement:
The statements included in this press release concerning predictions of
economic performance and management’s plans and objectives constitute
forward-looking statements made pursuant to the safe harbor provisions
of Section 21E of the Securities Exchange Act of 1934, as amended, and
Section 27A of the Securities Act of 1933, as amended. Forward-looking
statements are statements that are not historical facts. Words such as
“expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and
similar expressions are intended to identify forward-looking statements.
These statements include, but are not limited to, statements regarding
the expected completion, timing and results of metallurgical testing,
interpretation of drill results, the geology, grade and continuity of
mineral deposits, results of initial feasibility, pre-feasibility and
feasibility studies and expectations with respect to the engaging in
strategic transactions. All of such statements are subject to risks and
uncertainties, many of which are difficult to predict and generally
beyond the control of the Company, that could cause actual results to
differ materially from those expressed in, or implied or projected by,
the forward-looking information and statements. Specifically, there can
be no assurance regarding the timing and terms of any transaction
involving the Company or its El Capitan property, or that such a
transaction will be completed at all. In addition, there can be no
assurance that periodic updates to the Company’s geological technical
reports will support the Company’s prior claims regarding the
metallurgical value and make-up of the ore on the New Mexico property.
Additional risks and uncertainties affecting the Company include, but
are not limited to, the possibility that future exploration,
development, testing or mining results will not be consistent with past
results and/or the Company’s expectations; discrepancies between
different types of testing methods, some or all of which may not be
industry standard; the ability to mine precious and other minerals on a
cost effective basis; the Company’s ability to successfully complete
contracts for the sale of its products; fluctuations in world market
prices for the Company’s products; the Company’s ability to obtain and
maintain regulatory approvals; the Company’s ability to obtain financing
for continued operations and/or the commencement of mining activities on
satisfactory terms; the Company’s ability to enter into and meet all the
conditions to consummate contracts to sell its mining properties that it
chooses to list for sale; and other risks and uncertainties described in
the Company’s filings from time to time with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date hereof, and we
do not undertake any obligation to revise and disseminate
forward-looking statements to reflect events or circumstances after the
date hereof, or to reflect the occurrence of or non-occurrence of any
events.
Contacts
El Capitan Precious Metals, Inc.
John F. Stapleton, 480-440-1449