This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Nilam Resources Inc. Announces Update On Its El Varon Mine Which Is In Close Proximity To The Great Morococho And Toromocho Mines Near Lima, Peru

Stocks in this article: NILA

LIMA, Peru , Nov. 27, 2012 /PRNewswire/ -- Nilam Resources Inc. ("Nilam" or the "Company") (NILA-OTCQB) announces today that it is sending an independent geological team to its El Varon property to study and produce independent updated laboratory results.  The company is looking forward to receiving their report(s) and results in the next few months.

The EL Varon project consists of "Tati" and "San Marino No.2" mining concessions which are located in close proximity to the great Morococho and Toromocho mines near Lima. Previous laboratory analysis shows rich poly-metallic mineral deposits rich in Gold, Silver, Copper, and Zinc metals with production estimates that are expected to grow up to 6,000 tonnes/month of production. 

El Varon already has the necessary infrastructure for mining operations, including electricity, proximity to water and accessible transportation.For more information, please visit www.southamericanmining.com or email info@southamericanmining.com

Shahin Tabatabaei, President and CEO for Nilam Resources Inc. added, "Step by step we are forwarding our current projects.  We must be meticulous in our strategy on each of our projects and all of our future projects.  I am looking forward to receiving updated results from our projects.  Our company strategy is to develop our projects but we are also looking at other acquisition targets during this process."

About Nilam Resources Inc.

Nilam Resources Inc. is focused on the exploration and production of precious and base metals on their current Llipa and El Varon properties in Peru. The Nilam Resources Inc team will research, review and prove any reserves for the purpose of production as part of its growth plan.  The company also plans to recognize, and acquire near-term production mining properties as part of its further growth strategy.

Symbol: OTCQB – NILA

FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.

Contact:

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,725.01 +263.69 1.60%
S&P 500 1,954.43 +27.32 1.42%
NASDAQ 4,456.9960 +74.1490 1.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs