LAS VEGAS, Aug. 13, 2015 (GLOBE NEWSWIRE) -- Transnational Group, Inc. "Transnational" (Pink Sheets:TAMG) today announced that the Company has acquired a 720 acre gypsum property located in Sandy Valley, Nevada from the Bureau of Land Management (BLM).
Transnational paid a fee to acquire the 'Sandy Valley' project which includes the mining rights to 36 claims that span 720 acres of property believed to be very rich in gypsum based on previous sample results. According to the Company, the property is estimated to contain approximately 10 million tons of high-grade gypsum. Management projects that the Sandy Valley project will be operational by January 2016 and has set a production target of 1,000 tons of gypsum per day once mining operations ramp up to full capacity.
CEO of Transnational Group, Dr. Philip Dutoit, commented, "We are pleased to announce our acquisition of the Sandy Valley rights and believe that this project will generate significant revenue beginning in 2016. This is a very exciting time for Transnational as we are near closing on agreements that will provide our Company with the mining infrastructure, including leadership and equipment, necessary to maximize the production of this and future projects we are presently negotiating."
About Transnational Group, Inc.
Transnational Group is a development stage holding company whose primary business is the acquisition and development of interests in the financial, consulting and natural resources sectors. The Company focuses on developing properties and business opportunities through partnerships and joint ventures while integrating management's best practices and expertise.
Investors: The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," or "inferred," which may not be consistent with the reserve definitions established by the SEC. U.S. investors are urged to consider closely the disclosures in our reports filed with the OTC Markets Group, Inc.
Forward-Looking Statements:
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control.