CULIACAN, Mexico, June 27, 2014 (GLOBE NEWSWIRE) -- Gold and Gemstone Mining Inc. (OTCQB:GGSM), a gold exploration and development stage mining company focused on Mexico, for start of exploration, exploitation and refining of Gold.
Ivan Mondragon, GGSM's VP and General Manager of Mexico Operations, today commented, "I'm delighted to announce that this mining potential can bring great opportunity to GGSM and its shareholders. Mexico still has great unexplored land with a high concentration of gold in the ground." Mr Mondragon then goes on to state, "Before signing up with any land owners for the rights to explore for gold it is extremely important to have the right local partnership in place and this is where we see a future potential opportunity by working together. The favorable condition for the work of mining in Mexico is achieved by planning properly, responsibly and transparently, working with highly qualified workers. This is extremely exciting for our shareholders and us. The potential in this zone is very large: Sinaloa state shares with the Mexican states of Chihuahua, Durango and Sonora the great mineral wealth of the Sierra Madre Occidental, with large reserves of gold, silver, copper, lead, zinc, iron and nickel, and other minerals; it's a privileged region. The metallic mineral production in the state of Sinaloa has tripled in the last years and the trend is upward, silver production from the Sierra Madre Occidental has led Mexico to be the largest producer of silver in the world, the quality of its gold and seriousness of producers, has caught the attention of companies like Apple to integrate this mineral in their electronic equipment. Gov. Mario Lopez Valdez, in the framework of the World Mining Congress 2014 in Toronto, Ontario, Canada, qualified Sinaloa as a safe and attractive destination for mining investment. This opinion is based on increasing state mining and confidence that reflects the entry of domestic and foreign companies investing in the region, having around 1,500 mining titles that occupy 1.4 million hectares, which around 1.3% are in exploitation, in where around 80% are foreign mining companies, principally Canadian, American, Australian and British. My personal experience in the last years has led me to meet many mining prospects that I know will be great projects, and they will be considered for the long-term project."
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
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