VANCOUVER, Jan. 2, 2018 /CNW/ - Northern Vertex Mining Corp. (TSX.V: NEE) (OTC Nasdaq Intl.: NHVCF) (the "Company" or "Northern Vertex") is pleased to report on key milestones achieved for 2017 and strategic goals for 2018 both for the Company and for its Moss Mine located in the Oatman District in NW Arizona, USA.
The past year has been transformative for Northern Vertex as we achieved numerous milestones positioning the Moss Mine as "America's Next Gold Producer".
Milestones achieved in 2017:
- Surpassed 80,000 Construction Man Hours without a lost time accident at the Moss Mine Site
- Ended the year with a 68% increase in share price
- Strengthened Management and Board of Directors
- Negotiated financial partnerships for construction and working capital:
- Greenstone Resources: US$26M; Sprott Lending US$20M; CAT Financial US$9.0M
- Obtained final permits for commercial mining at Moss
- Drilled additional water wells to confirm Moss Mine capacity exceeds peak demand
- Completed Preliminary Economic Assessment projecting a 10-year mine life at Moss
- Appointed Bud Hillemeyer and Perry Durning as Advisors, two of mining's most successful & awarded geologists
- Signed key operational team members, William Martinich, Mark Gorman, and Kesler Morris
- Completed mechanical assembly of Crushing Plant, Conveyors, Heap Leach Pad and Merrill Crowe
- Implemented a corporate culture that focuses on team work and respect for all stakeholders
During the coming year, we will continue to operate with a sense of urgency and focus. We fully expect the successful execution of our goals will positively impact shareholder value.
Strategic Goals for 2018:
- Complete commissioning and commence operations of Moss Mine
- Pour First Gold/Silver Dore bars in Q1
- Sell aggregate throughout Tri-States area (AZ, CA, NV)
- Install "Clean Electrical Power" (reducing 5,600 gal. diesel per day & saving US$10,000 per day)
- Exceed Feasibility Study expectations
- Aggressively pursue US Consolidation
- Leverage the knowledge and experience of our team
- Deploy available capital (debt/equity)
- Initiate District Wide Exploration Targeting 1 million oz + Gold/Silver.
- Add resources nearby existing open pit
- Drill "Game Changing" exploration targets
- Pay down debt from cash flow
- Increase market awareness and shareholder base
- Increase analysts coverage
- Target production profile of 150,000 oz+ per year through M&A and organic growth
In closing, I would like to thank our shareholders and stakeholders for their continued support. I would also like to commend our employees, contractors and consultants for their team work and commitment to the Moss Mine project.
President & CEO
About Northern Vertex
Northern Vertex Mining Corp. is an exploration and mining company focused on the reactivation of its 100% owned Moss Mine Gold/Silver Project located in NW Arizona, USA. To the best of management's knowledge, Northern Vertex is the next publicly traded company to initiate gold and silver production, scheduled for Q1 2018, in the USA. The Company's management comprises an experienced management team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on working effectively and respectfully with our stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.
Click the following link to view: https://northernvertex.com/projects/photo-gallery/
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as scheduled, may, intend, plan, expect, anticipate, believe or other similar words. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. To the best of management's knowledge, Northern Vertex is the next publicly traded company to initiate gold and silver production scheduled for Q1 2018 in the USA. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.
SOURCE Northern Vertex Mining Corp.
For further information: please visit www.northernvertex.com, or contact Investor Relations at: 604-601-3656 or at 1-855-633-8798.