LAS VEGAS, Nov. 19, 2015 (GLOBE NEWSWIRE) -- Transnational Group, Inc. "Transnational" (OTC:TAMG) today provided an update regarding its Sandy Valley gypsum property located within 50 miles of Las Vegas in Southern Nevada.
Transnational has acquired a 25 acre site in Jean, Nevada that has full railroad access and will be used for the construction of 5 mills. The mills will be used to process gypsum and any other minerals that are mined at Sandy Valley which is located approximately 15 miles away. The acquisition will facilitate the movement of materials between the mining and mill sites.
Additionally, the Company recently acquired 8 additional mineral claims that span 160 acres at Sandy Valley, increasing the total size of its gypsum property to 1,420 acres. The new claims were acquired from the Bureau of Land Management (BLM) and are located in the Mesquite Lake Dry Bed. The Company's geologists and engineers have identified this area as having strong potential to contain high grade gypsum.
Dr. Philip Dutoit, the Company's CEO, stated, "Transnational is pleased to announce recent developments and further progress on our Sandy Valley Gypsum Project. Acquiring a site close to Sandy Valley that will be used to process and ship gypsum directly via railroad significantly strengthens our infrastructure and gives the Company total control of these operations, thus reducing future production costs. This will also accelerate the revenue generation process once our mines become operational."
"Following the findings by our geology and engineering team, we decided to acquire 8 additional claims as we believe that they offer rich potential in high grade gypsum. Moving forward, our team will continually explore the Mesquite Lake Dry Bed and surrounding areas within Sandy Valley to identify potential new claims," added Martin Katz, CFO of Transnational Group.
About Transnational Group, Inc.
Transnational Group is a mineral and natural resource exploration company focused on acquiring and mining mineral-rich assets in the Southwestern United States. The Company's mission is to acquire properties rich in high-grade gypsum and other minerals that have the potential for long-term production and sustainable revenue generation. Transnational is continuously exploring strategic acquisition, partnership and joint venture opportunities that can increase its capital, equipment and natural resource assets.
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.