ALPINE, UT, June 28, 2011 /PRNewswire/ -
President's Letter:
After decades (that seemed more like centuries to us), there is
finally commercial production at the Clifton mill site.
Having upgraded and increased the size of the mill, Desert Hawk
Mining is now in consistent production on small, but high grade,
outcropping pods. They have shipped their initial
concentrates to Asarco, and they and we have received the initial
payment. They have also shipped six thousand pounds of
Tungsten with more ready to be shipped.
Desert Hawk Mining is presently working to obtain a heap leach
permit for the Kiewit Zone, which they believe contains an
estimated more than 10 million tons of mineralized resource.
This should result in significant royalties for Clifton, which at
current metals prices Clifton would receive a 15% net smelter
return for precious metals, as opposed to 4% for non-ferrous
metals.
Earlier this year, Clifton signed an agreement with the
Department of Metallurgy at the University of
Utah to further its patented microwave technology based on
targeting the frequencies of gold and silver. For a number of
samples in which the precious metals are encapsulated in matrices
of bentonite (and, we believe, telluride), the recovery of precious
metals obtained by the Department increased by more than one order
of magnitude, with several of the samples yielding more than two
ounces of gold per ton. While much constructive development
has been accomplished, considerable additional testing needs to be
done. If that testing bears out the results of the work to
date, the process has potential both for our own resources and also
for other mining companies looking for increased recoveries.
As per the questions about Clifton's investment in American
Biotech Labs (ABL), ABL is a biotech company that has a unique
patented technology that produces a silver sol, meaning an atomic
silver suspended in pure water, which properties include a very
broad spectrum anti-pathogenic. For the third time in the
past five years, ABL has received Utah's 2011 "Best-in-State" award for Medical
Innovation. Clifton is the largest shareholder owning approximately
21%. For the year 2010, Clifton received in cash
distributions from ABL just over $100,000. In 2011, Clifton hopes that it's
return on its investment in ABL will be much higher.
Important Announcement for the Shareholder's Annual General
Meeting:
We have scheduled our Annual General Meeting for 12:30 p.m. on Friday,
August 26, 2011 at The Alpine Arts Center in Alpine, Utah. We look forward to seeing
you in person at that time.
Best wishes for a continued wonderful and healthy year,
Kenneth S. Friedman
Clifton trades on the U.S. OTC: (CFTN).
Note: Any statements released by Clifton Mining Company that are
forward looking are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Editors
and investors are cautioned that forward looking statements invoke
risk and uncertainties that may affect the company's business
prospects and performance.
SOURCE Clifton Mining Company