MAPLE GROVE, Minn.,
May 26 /PRNewswire-FirstCall/ --
Affinity Gold Corp. (OTC Bulletin Board: AFYG) ("Affinity" or "the
Company") provides a corporate update on flagship project.
The Company continues to be optimistic in putting its flagship
project into production once all the required funds are raised,
equipment secured and environmental requirements are met and
maintained.
The Company continues to work towards raising the remainder of
the $750,000 it previously stated it
requires to move forward. The Company's CEO, Paul Antoniazzi states, "I'm pleased to have
raised the initial $245,000 through a
private placement with an existing shareholder however the current
circumstances and environment continue to present a challenge in
raising the remaining funds needed."
The Company will continue to work hard towards achieving its
objectives in spite of the challenging environment for raising
capital. The capital raised will primarily go towards
securing the necessary equipment and other resources to begin
initial small-scale production. In addition, the Company
continues to work with the appropriate regulators and local
authorities to ensure proper understanding of, and compliance with
the, environmental impact requirements and procedures.
CEO Paul Antoniazzi goes on to
state, "we still believe that being in gold exploration and
production are the places to be focused on with gold prices still
expected to remain strong."
About Affinity Gold Corp.:
Affinity Gold Corp. is a mineral exploration and development
company engaged in the acquisition, exploration and development of
gold mineralization properties internationally. Affinity Gold
Corp.'s current primary focus is gold exploration in Peru.
Through its 99.99% owned subsidiary AMR Project Peru, S.A.C.,
Affinity Gold Corp. is the owner of the mining concession title
named "AMR Project" covering 500 hectares and the mining concession
certificate as evidenced by Certificate No. 7996-2006-INACC-UADA
granted to AMR by the Republic of Peru, National Institute of Concessions and
Mining Cadastre on December 11, 2006
(the "Mining Concession Rights").
www.affinitygold.com
For further information please refer to the Company's filings
with the SEC on EDGAR available at www.sec.gov
FORWARD-LOOKING STATEMENTS
This news release may include "forward-looking statements"
regarding Affinity Gold Corp., and its subsidiaries, business and
project plans. Such forward-looking statements are within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and section 21E of the United States Securities and Exchange Act of
1934, as amended, and are intended to be covered by the safe harbor
created by such sections. Where Affinity Gold Corp. expresses or
implies an expectation or belief as to future events or results,
such expectation or belief is believed to have a reasonable basis.
However, forward-looking statements are subject to risks,
uncertainties and other factors, which could cause actual results
to differ materially from future results expressed, projected or
implied by such forward-looking statements. Affinity Gold Corp.
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
SOURCE Affinity Gold Corp.