SAN DIEGO, Nov. 11, 2004 (PRIMEZONE) -- Diversified Financial Resources Corporation (DFLR) is a holding company, trading under the stock symbol (OTCBB:DFLR). DFLR announced today that pursuant to signed Letters of Intent and with the cooperation of all parties to the agreements, DFLR has begun its efforts to operate the mining concession rights to mineral interests known as Sulema No. 2, El Roasario and La Currita located in the Sierra Madre Mountains within the State of Chihuahua, Mexico.
John Chapman, President of DFLR, stated the processing plant located on the mining concession is nearing completion and will be fully operational to begin the processing of ore that has been mined and stored on the concession site. Further, Mr. Chapman stated all the equipment and material necessary to start the processing plant operations have been acquired and are either on the concession site or are being delivered to the site. The initial operation of the processing plant is anticipated to begin before the end of November 2004.
DFLR is proceeding with operations on the concession site based upon past production records, core drilling records and geology of Llanitos mining district Chihuahua, Mexico. These prepared reports and evaluations of the mining concessions have been provided to DFLR. Those reports indicate there are mineral reserves of silver and gold present in the ores subject to the described mining concessions, in sufficient quantities, to allow for the profitable exploitation of the concessions and a return to DFLR on the operational costs of the concessions.
Mr. Chapman further stated, "As President of DFLR, I believe that the company is now poised to complete a mining opportunity that we have worked hard on bringing to fruition. This opportunity and the upward trend of the current gold and silver market places DFLR in the right place at the right time to maximize substantial profits."
DFLR is currently a holding company with operations in real estate. 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 June 30, 2004. These disclosures 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 DFRC 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. The actual results that DFRC may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.