OTCBB Symbol: SLVV
RENO, NV, Aug. 13 /CNW/ - Silver Reserve Corp., announced today that it
has entered into a Letter of Intent to acquire two companies holding
substantial limestone assets in the US and Canada.
CEO Todd Montgomery commented that "We believe the federal governments in
the United States and Canada will embark on major infrastructure expenditures
in the near future that will expand the demand for materials in the limestone
and cement categories. World demand for cement currently exceeds production.
We believe this is a strategic acquisition for the future of our Company."
If the transaction is completed, Silver Reserve plans to treat these new
acquisitions as a division specializing in the supply of materials to satisfy
demands for infrastructure raw materials. Mr. Montgomery stated that "We will
move as quickly as possible to bring these projects to feasibility."
The Company also reported that it has received subscription agreements
for $3,520,000 of a total planned $5,000,000 capital raise and expects to
complete the balance of this financing during the month of August, 2008. These
funds will be allocated to advance projects toward the feasibility stage.
Silver Reserve is an exploration stage mining company. The Company has a
portfolio of 15 silver and base metal projects in the State of Nevada, USA.
The properties are located in the counties of Esmeralda, Mineral, Nye, Lyon,
Humboldt and Elko. Silver Reserve also owns a 250 ton per day mill facility at
Mina, Nevada. Details of the new assets will be released following completion
of the purchase.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of U.S. securities laws
Forward-looking statements are frequently characterized by words such as
"plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and
other similar words or statements to the effect that certain events or
conditions "may", "have" or "will" occur. This release also contains
statements based upon historical records pertaining to our mineral claims that
have not been verified by the Company. The term, "resource" is not a term that
is recognized by SEC guidelines and does not rise to the level of certainty
required by SEC guidelines. Forward-looking statements or references to
historical records are based on the material in our possession, opinions and
estimates of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those stated or projected
in the this press release. The Company undertakes no obligation to update
forward-looking statements or historical information. The reader is cautioned
not to place undue reliance on forward-looking statements.
For further information:
For further information: Please Contact, Mason Douglas, President, (866)
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