Xtierra Inc.: Bilbao Project Update
January 17 2014 - 6:00AM
Marketwired
Xtierra Inc.: Bilbao Project Update
El Dorado Property Relinquished
TORONTO, ONTARIO--(Marketwired - Jan 17, 2014) - Xtierra Inc.
(TSX-VENTURE:XAG) ("Xtierra" or the "Company"), announces that
following its recently announced US$500,000 short term financing
(announced January 7th and completed January 10th, 2014) the
Company has prioritized all of its current resources on the
completion of the economic study of its Bilbao project in
Zacatecas, Mexico. A complete draft report is expected before the
end of this month at which time the Company will review its future
plans for Bilbao.
In accordance with
its previously announced cost curtailment intentions, as a cash
preservation measure and to eliminate a property payment, the
Company has now relinquished its El Dorado exploration property in
the Pinos district of south‐eastern Zacatecas State approximately
80 kilometres southeast of Bilbao. The Company had not carried out
any exploration work on this property since the second quarter of
2013.
About Xtierra Inc.
Xtierra Inc. is a
Toronto based exploration and development company listed on the TSX
Venture Exchange. Xtierra's shares trade under the symbol "XAG".
Xtierra has 103,425,892 shares issued and outstanding.
Xtierra's objective
is to become a mid‐tier producer of silver and base metals through
the development of its Bilbao and Laguna projects, both located in
the Central Mexican Silver Belt in the State of Zacatecas, as well
as through organic growth and M & A opportunities.
ON BEHALF OF THE
BOARD OF DIRECTORS OF XTIERRA INC.
Gerald Gauthier
President and COO
Cautionary Notes:
This press
release may contain "forward‐looking information" within the
meaning of applicable Canadian securities legislation. The TSX
Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
release.
Xtierra Inc.Gerald GauthierPresident & Chief Operating
Officer+1 (416) 362-8243Xtierra Inc.Tim GallagherDirector+1 (416)
925-0090info@xtierra.cawww.xtierra.ca
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