MINNEAPOLIS, April 25, 2005 (PRIMEZONE) -- Wits Basin Precious Minerals Inc. (OTCBB:WITM) is pleased to announce that they have retained Harbinger Research, LLC, an independent equity research firm, to provide research coverage services.
Vance White, CEO said, "We are very optimistic about our future, because of all the recent positive announcements in our search for a new gold field and we believe this is an opportune time for us to make an investment in helping the Street understand our Company and the exceptional opportunities that lie before us."
To view Harbinger Research's Coverage Initiation report on Wits Basin, rated a Speculative Buy by Derrick Irwin, CFA, please click the following link:http://www.harbingerresearch.com/link/13/17/WITM
About Harbinger Research: Harbinger Research is an independent equity research firm based in New York City. Harbinger Research employs a research team consisting entirely of CFA charter holders and follows a number of companies across a wide variety of industries. Harbinger Research makes all of its reports available through its website at www.harbingerresearch.com, and also distributes content through a variety of partners, including InvestorsInsight Publishing, Friedland Capital, B&D Capital, ROI Group Associates and through most major financial portals. Harbinger Research has been compensated by Wits Basin in the amount of $25,000.
About Wits Basin Precious Minerals Inc.
We are a minerals exploration and development company holding interests in four exploration projects and currently do not claim to have any mineral reserves on any project. Our common stock trades on the Over-the-Counter Bulletin Board under the symbol "WITM." To find out more about Wits Basin Precious Minerals Inc. (OTCBB:WITM), visit our website at www.witsbasin.com.
Forward-Looking Statements and Risk Factors
Certain statements contained in this press release are forward-looking in nature and are based on the current beliefs and assumptions of our management. Words like "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict," and similar expressions and their variants may be used to identify forward-looking statements. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes.
The exploration for and development of mineral deposits involves significant financial risks, which even experience and knowledge may not eliminate, regardless of the amount of careful evaluation applied to a process. While the discovery of a mineral deposit may result in substantial rewards, few properties are ultimately developed into producing mines. Moreover, we cannot make any estimates regarding probable reserves and mineral resources in connection with any of our projects and any estimates relating to possible reserves are subject to significant risks. Therefore, no assurance can be given that any size of reserves or grades of reserves will be realized. If a discovery is made, the mineral deposit discovered, assuming recoverable, may differ from the reserves and mineral resources already discovered and recovered by others in the same region of the planned areas of exploration.
The cost of exploration and exploitation can be extensive and there is no assurance that we will have the resources necessary or the financing available to pursue projects we currently hold interests in, or to acquire interests in other mineral exploration projects that may become available. The risks are numerous and detailed information regarding these risks may be found in filings made by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-KSB, quarterly reports on Form 10-QSB and reports on Form 8-K.