From the Wires
ABOT Mining Renegotiates and Reduces its Exploration Expenditure Commitments on Aztlan 8B from $450,000 to $100,000
Jan. 6, 2013 03:00 PM
WOODLAND HILLS, Calif., Jan. 6, 2013 /PRNewswire/ -- ABOT Mining (Pink Sheets: ABOT.pk) is pleased to announce that it has favorably renegotiated its exploration expenditure commitments on Aztlan 8B (the "Project") from $450,000 to $100,000 while maintaining its equity interest option at 50% in the Project. This addendum is made valid as it is included in the original Option Agreement signed with Rising Star Mining on December 6, 2011.
The reduction of this contractual capital commitment by almost 78% will reduce our current liabilities and improve the balance sheet considerably. The Company expects to deploy its immediate capital in the production and expansion of its recently announced Silver Tailings Project.
About the Company
ABOT is a US based mining company engaged in discovering, acquiring, developing, producing, and marketing precious and semi-precious metal properties and is currently headquartered in Woodland Hills, California. ABOT plans to create long term shareholder value by implementing an aggressive exploration program, making new precious metals discoveries and developing mining properties with long-life and low cost operation.
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Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Imran Firoz, President
Abot Mining Co.
6303 Owensmouth Avenue | 10th Floor
Woodland Hills | CA 91367
T: +1 818.302.0100
SOURCE ABOT Mining