Nilam Resources Inc. Announces Update on Its El Varon Mine Which is
in Close Proximity to The Great Morococho and Toromocho Mines Near
Lima, Peru
LIMA, Peru,
Nov. 27, 2012 /PRNewswire/
-- Nilam Resources Inc. ("Nilam" or the "Company")
(NILA-OTCQB) announces today that it is sending an independent
geological team to its El Varon property to study and produce
independent updated laboratory results. The company is
looking forward to receiving their report(s) and results in the
next few months.
The EL Varon project consists of "Tati" and "San Marino
No.2" mining concessions which are located in close proximity to
the great Morococho and Toromocho mines near Lima. Previous laboratory analysis shows rich
poly-metallic mineral deposits rich in Gold, Silver, Copper, and
Zinc metals with production estimates that are expected to grow
up to 6,000 tonnes/month of production.
El Varon already has the necessary infrastructure for
mining operations, including electricity, proximity to water and
accessible transportation.
For more information, please visit www.southamericanmining.com or
email info@southamericanmining.com
Shahin Tabatabaei, President and CEO for Nilam Resources
Inc. added, "Step by step we are forwarding our current
projects. We must be meticulous in our strategy on each of
our projects and all of our future projects. I am looking
forward to receiving updated results from our projects. Our
company strategy is to develop our projects but we are also looking
at other acquisition targets during this process."
About Nilam Resources Inc.
Nilam Resources Inc. is focused on the exploration
and production of precious and base metals on their current Llipa
and El Varon properties in Peru.
The Nilam Resources Inc team will research, review and prove any
reserves for the purpose of production as part of its growth plan.
The company also plans to recognize, and acquire
near-term production mining properties as part of its further
growth strategy.
Symbol: OTCQB –
NILA
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under
the Private Securities Litigation Reform Act of 1995: Statements
relating to the company's business activities and other statements
in this press release are forward-looking statements within the
meaning of the Securities Litigation Reform Act of 1995. Such
statements are based on current expectations about the Company's
business. Words such as expects, anticipates, intends, plans,
believes, estimates and similar words and expressions are intended
to identify such forward-looking statements. These statements
involve risks that are difficult to evaluate. Actual results can
vary from descriptions herein due to many factors including changes
in metal prices and business conditions; changes in laws and
regulations; problems encountered in exploration and obtaining
permits; changes in the competitive environment; technological
advances; shortages of skilled workers, drill rigs and equipment;
the need for additional capital and other risks listed in the
Company's Securities and Exchange Commission filings under "risk
factors" and elsewhere. Forward-looking statements speak only as of
the date they were made. The Company does not undertake any
obligation to update forward-looking statements.
Contact:
info@southamericanmining.com
SOURCE Nilam Resources Inc.