Castle Mountain Announces Grant of Stock Options
January 20 2014 - 2:08PM
Marketwired
Castle Mountain Announces Grant of Stock Options
TORONTO, ONTARIO--(Marketwired - Jan 20, 2014) - Castle Mountain
Mining Company Limited (TSX-VENTURE:CMM) ("Castle Mountain Mining",
"we", "us" or the "Company") announces that its Board of Directors
have granted stock options in the aggregate of 800,000 to certain
Directors, an Officer, and a consultant of the Company. The options
were granted under the Company's stock option plan and the policies
of the TSX Venture exchange.
Each option is exercisable for one common share of the Company,
for five years, at an exercise price of $0.60, based on the closing
price of the Company's shares on January 17, 2014. The options vest
in equal installments every three months over a one year
period.
About Castle Mountain Mining Company
Subject to certain obligations, Castle Mountain Mining has 100%
of the right, title and beneficial interest in and to the Castle
Mountain Venture, a California general partnership, which owns the
Castle Mountain property in San Bernardino County, California. The
Castle Mountain heap leach gold mine produced over one million
ounces of gold from 1992 to 2001, when mining was suspended due to
low gold prices.
The Castle Mountain Venture land holdings (7,458 acres total)
include patented claims (1,298 acres), and unpatented claims (6,160
acres). On December 11, 2013, the Company filed the Technical
Report for its maiden NI 43-101 mineral resource estimate, that is
available both on SEDAR at www.sedar.com and on the Company's
website at www.castlemountainmining.com. The Company has engaged
RPA Inc. to complete a Preliminary Economic Assessment with an
anticipated delivery in the first quarter of 2014.
Castle Mountain Mining Company Limited, through its wholly owned
subsidiaries including Castle Mountain Venture, is focused on the
exploration and, if warranted, development of deposits in San
Bernardino County, California. The principal gold mineralization
identified to date within the project are below and surrounding the
historically mined pits on the property including the Oro
Belle-Hart Tunnel, Jumbo, and Lesley Anne-Jumbo South Pits, as well
as in the South Domes area.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Forward-Looking Statements
Statements contained in this news release that are not
historical facts are "forward-looking information" or
"forward-looking statements" (collectively, "Forward-Looking
Information") within the meaning of applicable Canadian securities
legislation and the United States Private Securities Litigation
Reform Act of 1995. Forward Looking Information includes, but is
not limited to, disclosure regarding possible events, conditions or
financial performance that is based on assumptions about future
economic conditions and courses of action; the timing and costs of
future exploration activities on the Company's properties; success
of exploration activities; permitting time lines and requirements;
time lines for technical reports; planned exploration and
development of properties and the results thereof; and planned
expenditures and budgets and the execution thereof. In certain
cases, Forward-Looking Information can be identified by the use of
words and phrases such as "plans", "expects" or "does not expect",
"is expected", budget", "scheduled", "suggest", "optimize",
"estimates", "forecasts", "intends", "anticipates", "potential" or
"does not anticipate", believes", "anomalous" or variations of such
words and phrases or statements that certain actions, events or
results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". In making the forward-looking statements
in this news release, the Company has applied several material
assumptions, including, but not limited to, that the current
exploration and other objectives concerning the Castle Mountain
Project can be achieved and that its other corporate activities
will proceed as expected; that the current price and demand for
gold will be sustained or will improve; that general business and
economic conditions will not change in a materially adverse manner
and that all necessary governmental approvals for the planned
exploration on the Castle Mountain Project will be obtained in a
timely manner and on acceptable terms; the continuity of the price
of gold and other metals, economic and political conditions and
operations. Forward-Looking Information involves known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the Forward-Looking
Information. Such risks and other factors include, among others,
risks related to the availability of financing on commercially
reasonable terms and the expected use of proceeds; operations and
contractual obligations; changes in exploration programs based upon
results of exploration; future prices of metals; availability of
third party contractors; availability of equipment; failure of
equipment to operate as anticipated; accidents, effects of weather
and other natural phenomena and other risks associated with the
mineral exploration industry; environmental risks, including
environmental matters under U.S. federal and California rules and
regulations; impact of environmental remediation requirements and
the terms of existing and potential consent decrees on the
Company's planned exploration on the Castle Mountain Project;
certainty of mineral title; community relations; delays in
obtaining governmental approvals or financing; fluctuations in
mineral prices; the Company's dependence on one mineral project;
the nature of mineral exploration and mining and the uncertain
commercial viability of certain mineral deposits; the Company's
lack of operating revenues; governmental regulations and the
ability to obtain necessary licenses and permits; risks related to
mineral properties being subject to prior unregistered agreements,
transfers or claims and other defects in title; currency
fluctuations; changes in environmental laws and regulations and
changes in the application of standards pursuant to existing laws
and regulations which may increase costs of doing business and
restrict operations; risks related to dependence on key personnel;
and estimates used in financial statements proving to be incorrect;
as well as those factors discussed in the Company's public
disclosure record. Although the Company has attempted to identify
important factors that could affect the Company and may cause
actual actions, events or results to differ materially from those
described in Forward-Looking Information, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
Forward-Looking Information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on Forward-Looking Information. Except as
required by law, the Company does not assume any obligation to
release publicly any revisions to Forward-Looking Information
contained in this news release to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
Castle Mountain Mining CompanyGordon McCrearyPresident and
CEO(416) 572-0152gmccreary@castlemountainmining.comCastle Mountain
Mining CompanyFraser BuchanVP Corporate Development(416)
640-1933fbuchan@83yonge.comwww.castlemountainmining.com
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