|By Marketwire .||
|August 8, 2012 11:29 AM EDT||
AREQUIPA, PERU -- (Marketwire) -- 08/08/12 -- Gold Horizons Mining Co. Ltd (FRANKFURT: GKW) ("Gold Horizons Mining Co. Ltd." or the "Company") is pleased to announce their first revenues with their Angostura Joint Venture Project. The Company's senior joint venture partner continues mining and processing 400 tons of mineral each month with an estimated recovery up to 90 ounces of gold each month.
Gold Horizons Mining Co. Ltd is currently in the midst of a Rights Offering. The Company will utilize the funds raised and intends to increase monthly production at the mine and upgrade the processing plant's capacity to 1500 tons per month, which the Company expects will produce up to 200 ounces of gold per month.
Scott Francis CEO & President remarked, "We are very excited to make the announcement of our initial revenues. It has been a challenging 9 months for both management and our Shareholders, but we can now see the light at the end of the tunnel for the Company. To enable the company to reach its planned production goals, continued support from the shareholders via our 'Rights Offering' will be a tremendous boost."
Gold Horizons Mining Co. Ltd is a startup gold and silver producer as well as an exploration company operating in Arequipa, Peru. The Company is committed to building long-term shareholder value through strategic opportunity and identification in the mineral resource sector. The Company specializes in small mine development, specifically underground, narrow vein mining. The Company's strategy has evolved to include the processing of its own mineral which has lowered the total costs by up to 50% per ounce. The Company, in partnership with its Peruvian joint venture partner, locates, develops, and operates near production ready mineral projects in Peru.
Forward Looking Statements
This press release contains forward-looking information. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include statements regarding production estimates and targeted production for 2012. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "planned," "expects," and "estimated." Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Gold Horizons Mining Co. Ltd
Email - email@example.com
USA Fax - 001 702 920 7611
Peru phone 51 988 988 003
Urbanizacion La Esperanza (Adepa)
F 36 Jose Luis Bustamante Y Rivero Arequipa