GTSO Resources (OTCQB: GTSO) signed a letter of intent with mining company Diamond V Associates, Inc., to acquire and develop precious metal and rare earth prospects in Alaska and Ghana.
Diamond’s extensive mining experience makes the company a good fit for GTSO’s mission. Diamond’s President W. Kirk Bastian has been in the mining and excavation business for over 21 years. Diamond V Associates was founded to acquire and mine placer gold and rare earths in Alaska, and the company is now exploring prospects in the West African nation of Ghana, as well.
Thanks to advances in technology and huge price increases since the target regions were first mined, returning to existing mines in areas such as Valdez Creek, Alaska, could prove lucrative to GTSO. The company believes Diamond will be a big help in targeting and acquiring mineral rights with the highest development potential.
GTSO plans to begin evaluating Diamond’s precious metals and rare earth prospects immediately. According to the letter of intent, GTSO has 90 days to conduct due diligence toward a potential acquisition, joint venture or partnership with Diamond.GTSO plans to service a fast-growing global appetite for rare and precious metals to compete in an exciting sector that includes Goldcorp Inc. (NYSE: GG), Newmont Mining Corp. (NYSE: NEM), SPDR Gold Shares (NYSEArca: GLD) and Barrick Gold Corp. (NYSE: ABX). To track gold’s meteoric rise and learn more about GTSO’s resource development initiative, please visit www.gtsoresources.com/precious-metals-investors. About GTSO Resources GTSO Resources [ www.GTSOresources.com] is a growth-oriented company exploring precious metals production around the world. In addition to gold, GTSO pursues the acquisition of rare earths and emerging clean technology innovations. To learn more, please visit our website at http://www.gtsoresources.com/precious-metals-investors.html. Follow us on Twitter at http://twitter.com/#!/gtsoresources. Notice Regarding Forward-Looking Statements Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.