SAN DIEGO, Calif., Dec. 27, 2004 (PRIMEZONE) -- Diversified Financial Resources Corporation (DFLR) is a holding company, with operations in real estate and mining, trading under the stock symbol (OTCBB:DFLR).
As announced by DFLR in our press release of November 18, 2004, DFLR was in the process of completing its due diligence for the acquisition of the mining concession rights to mineral interests known as Sulema No. 2, El Roasario, El Curra and La Currita located in the Sierra Madre Mountains within the State of Chihuahua, Mexico.
DFLR is pleased to announce today that on the 16th day of December 2004 the Concessionaire Minera Tres DE Mayo S.A. DE C.V., a Mexican Mining Company, has delivered to DFLR and their attorneys all requested due diligence documents to include filings, representations and warranties of said concessionaire.
Further, at this date DFLR is announcing that DFLR and their attorneys have reviewed verified and approved the due diligence.
The delivery and approval of the due diligence starts a four-month option term between the Concessionaire and DFLR. According to the agreement the option term requires a deposit of $300,000.00.
Still further at this date DFLR announces the $300,000.00 deposit has been paid to the Concessionaire and DFLR is now in the four-month option term of the agreement.
Miller, R.G., geologist, and a consultant to DFLR is currently further evaluating drilling results of inferred reserves and her report will be coming forthwith.
DFLR is currently a holding company with operations in real estate and mining. Investors are strongly encouraged not to make an investment, which they cannot afford to lose. Furthermore, DFLR does not recommend that any shareholder take any action solely based upon the information provided above.
DFLR strongly encourages the public to read the above information in conjunction with its Form 10KSB for December 31, 2003, and 10QSB for March, June and Sept.30, 2004. These disclosure can be viewed at www.sec.gov. DFLR's website can be viewed at www.dfrc.net.
This press release may contain forward-looking statements that are based on a number of assumptions, including the successful completion of the necessary due diligence in a short period of time. Although DFLR believes these assumptions are reasonable, no assurance can be given that they will prove correct. These forward-looking statements involve a number of risks and uncertainties, including competitive market conditions, successful integration of acquisitions, and the ability to secure sufficient financing due to such risks and uncertainties.