SANTO DOMINGO, Dominican Republic, Sept. 21, 2012 (GLOBE NEWSWIRE) -- Santo Mining Corporation (OTCBB:SANP), (the "Company"), is pleased to announce that as per its Acquisition Agreement it has acquired 100% of the Alexia gold exploration claim near Dajabón in the northwest Dominican Republic (the "Alexia Claim"). This highly prospective 27.75-square-kilometer claim is surrounded on all quadrants by numerous gold discoveries that are under continued investigation, including mine complexes owned by companies such as Unigold, Everton Resources, and Newmont/Eurasian.
The great number of placer and historical gold showings in the area of the Alexia claim, and the variety of mineralization types, indicate exceptional exploration potential. Geologically, the Alexia Claim lies within the same cretaceous volcanic belt as Goldquest's and Unigold's recent discoveries. The area is underlain mostly by Tireo and Duarte formations (Lower Cretaceous), in contact with intrusive tonalities. Barrick Gold's 25.3-million-ounce Pueblo Viejo project lies in Los Ranchos formation to the southeast. The Santo Mining exploration team is planning a comprehensive 2-D investigation in the coming weeks, and remains highly optimistic that it will deliver promising results for gold.
"Alexia fits perfectly into our acquisition strategy and represents our first addition to our portfolio," said Santo Mining President Alain French. "Based on the overall geology as well as the number of high-quality mining companies in the surrounding vicinity, we believe it has outstanding potential for exploration."
About Santo Mining Corporation
Santo Mining Corporation is an aggressive junior minerals exploration and development company, based in the Dominican Republic. The Company is actively pursuing acquiring and exploring of properties, which are strategically located in the prolific and highly prospective Hispaniola Gold-Copper Back-Arc area in the Dominican Republic. A detailed description of the Company's activities is available at SantoMining.com.
The Santo Mining Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=14686
Further information on the Company and its filings can be found at www.sec.gov
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical, such as the Company's plans for exploration and the potential of the Alexia claim, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Company's properties and the timing of any work program or exploration activities, and any results that may be obtained or the commencement of production.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.