TUCSON, Ariz., Dec. 6, 2006 (PRIME NEWSWIRE) -- Pure Capital Incorporated (OTCBB:PUCNF) is pleased to announce that the company, on November 30, 2006, closed an Asset Purchase Agreement with Red Hawk Exploration and Mining, Inc. to acquire three prospects located near Tombstone, Arizona. The prospects contain almost 9,000 acres within the Tombstone Basin. Pure Capital will operate the properties and maintain a one hundred percent working interest position.
The Tombstone District sits astride a regional North East trending structure. It is a northeast trending rift structure or shear traceable from southwest of the Huachuca Mountains of Arizona northeast to Silver City, New Mexico.
In neighboring districts along the NE rift, silver and gold mineralization occur in igneous and sedimentary rocks, suggesting ore mineralization is pervasive and of considerable extent along this northeast trending, regional rift. This structural trend of mineralization presents an exploration potential of tremendous magnitude, with precious metals and base metals distributed along and adjacent to the structure.
Surface examination of the Tombstone area reveals there are numerous veins and structures that have not been mined or explored. The close proximity of many of these structures and veins may allow for Slot or Open Pit mining methods if sufficiently high silver-gold values are carried between.
With the closing of this transaction, Pure Capital has now ceased to be a shell company as that term is defined under Rule 405 of the Securities Act of 1933 and Rule 12b-2 of the Exchange Act of 1934.
Further information concerning the Arizona drilling program will be released as it becomes available.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission.