SANTO DOMINGO, Dominican Republic, Nov. 27, 2012 (GLOBE NEWSWIRE) -- Santo Mining Corp. (OTCBB:SANP), (the "Company"), Santo Mining CEO Al French stakes new mining claim close to Barrick Gold's "Pueblo Viejo" mine with reported 25 Million Ounces of Gold reserves.
Last Friday CEO Al French registered a new claim for Santo Mining with the Dominican Mining office. The preliminary claim or "Denuncia" is strategically located two kilometers due south of Barrick Gold's World Class "Pueblo Viejo" mine and totals 105 hectares. This location is inside the mineral rich Maimon Formation shared with Perilya Gold's operating "Cerro de Maimon" mine 4-5 kilometers northwest and Xstrata Falconado massive nickel complex also to the northwest.
This is now one of two 100% owned claims strategically located close to Barrick and Perilya and the first claim to be actually staked by the Company. The preliminary claim is valid for 30 days during which time the Company can apply for an exploration concession valid for three years plus two one year renewals. CEO Al French states "The vacant area was discovered on Thursday during a routine check of the Dominican Mining Office records. This systematic detailed weekly checking has again been proven to be a successful strategy to build a company's property assets. I have instructed our exploration team to make a preliminary field inspection of this windfall claim in the next few days. If they confirm the area is promising we will immediately file an application for an exploration concession to lock in the claim."
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 the acquisition and exploring of properties, which are strategically located in the prolific and highly prospective Hispaniola Gold-Copper Back-Arc area in the Dominican Republic. For more information visit our website at: www.santomining.com
Further information on the Company and its filings can be found at www.sec.gov
The Santo Mining Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=14686
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, such as the ability of the Company to secure the preliminary claim, which are not purely historical 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 those 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.