AMERICAN FORK, UT, March 19, 2018 /CNW/ - Clifton Mining Company has received notice that Desert Hawk Gold Corp. has closed on an agreement to buy out its main creditor. This will help solve the debt and equity issues with their company and allow them to get back into production on Clifton's Kiewit property. This transaction has helped Desert Hawk Gold Corp. reduce its debt by approximately 89%, opening the door for them to recapitalize and move forward with production and their continued exploration and development program at the Kiewit Mine. It is expected that production will restart within the next 30 to 60 days.
Clifton Mining Company received a distribution in March 2018 from its investment in American Silver, LLC of $152,500. To start off the New Year, American Silver had record sales in both January and February.
Please see the Company's website www.cliftonmining.com for additional Company information. Clifton trades on the U.S. OTC: (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: contact Dr. Ken Friedman, President at 303-642-0659; or Keith Moeller at 801-756-1414 ext.100.