AMERICAN FORK, UT, July 2, 2019 /CNW/ - Clifton management is pleased to announce the acquisition of 44 additional patent mining claims. This purchase more than doubles the current number of 38 patented mining claims owned by the Company to a new total of 82 patented mining claims. These new patented mining claims add an additional 731 acres, taking the total number of acres owned or controlled by the Company to more than 14,000 acres. These new claims are located contiguous to the Company's existing claims in the Clifton Mining District in Tooele County, Utah. In the same transaction, Desert Hawk Gold Corp. also purchased 20 patented mining claims adding an additional 352 acres to their project. The total purchase price for all 64 claims was $500,000, with Clifton and Desert Hawk each paying one-half of the total purchase price or $250,000 each.
Said Keith Moeller, VP of Clifton, "We have been wanting to acquire this valuable property for decades, but it has been unavailable until now. These purchases benefit Clifton in several ways, first, it doubles the amount of patented property owned by Clifton, increasing the potential for additional operations on Clifton's properties. Second, the acquisition includes two claims that have on surface silicon blowouts, which typically signifies the center of two crossing mineralized zones. Third, the claims purchased by Desert Hawk can add more reserves and longevity to the Kiewit Heap Leach Project, since many of the claims they purchased are contiguous to their current mining operations. Clifton benefits from Desert Hawk successes as a current substantial owner of Desert Hawk shares."
Please see the Company's website www.cliftonmining.com for additional Company information. Clifton trades on the U.S. OTC under the trading symbol "CFTN".
Note: Any statements released by Clifton Mining Company that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward looking statements invoke risk and uncertainties that may affect the company's business prospects and performance.
SOURCE Clifton Mining Company
For further information: For additional information, contact Dr. Ken Friedman, President at 303-642-3134, or Keith Moeller at 801-756-1414 ext.100