Uranium Hunter Corporation Issues Letter to Shareholders
LAS VEGAS, April 29, 2013 /PRNewswire/ — Uranium Hunter Corporation (OTC Pink: URHN), a uranium and gold mining company that targets historically proven and highly prospective properties in Africa and South America which can quickly come to production, wishes to announce that it has issued a letter to shareholders from its President, Gregory Ellis. The text of the letter appears below.
As the President of Uranium Hunter Corporation and in an effort to make sure that all our loyal shareholders know what we are doing and where we are headed, this address allows me to update you with this very important information about the continued direction of the company and our future prospects.
Here are a few of the highlights:
We are staying the course of developing potential world class resource reserves in the gold and uranium sectors. Even though gold has had a recent sell-off, the long term prospects remain bright and the fundamentals around both gold and uranium are strong. The following are three projects that are at various stages of development:
This is our primary project which is located in the Cuyuni Basin in Guyana, South America.
Cuyini Mining is a wholly owned subsidiary of Uranium Hunter.
We are planning to do additional sampling in the very near future that may include airborne geophysical surveying. This additional exploration work will be used to prove up the mineralization of the property and pinpoint the best places to locate the first commercial production mine. The property will be surface-mined and we are also working on the costs of such an operation in that region of the country. We do know that operational costs will be well below those of conventional underground mining operation and the profit margins will be significant.
We have secured a concession in the Kette region of Cameroon. Surface rents have been paid and concession demarcation and licensing are underway.
This concession is located in the Eastern region of Cameroon near the border of the Central African Republic. This concession is considered to be a major host body for gold in the region based on historical data that is available from the many village elders.
Pit sampling on five 10mx10m area pits on land returned an average of 2.4 (“g/t”). The Company is optimistic that it will have proper production equipment on site in Cameroon to commence extraction from the rivers of the concession and potentially produce a considerable amount of gold.
We are assembling a team to continue the work in that region to further prove up what we think will be a major gold and precious gems operation.
Sierra Leone, Africa
The company has entered into a LOI with St. Watson Mining Company Sierra Leone, Ltd. (SWMC or St. Watson) to joint venture with them on their gold concessions in Sierra Leone.
The concessions are located in the Sewafe area in the District of Kono. Kono District is a resource-rich district in the Eastern Province of Sierra Leone. Its capital and largest city is Koidu Town. The other major towns in the district include Motema, Yengema, Tombodu, Jaiama-Nimokoro and Sewafe. The district is the largest diamond producer in Sierra Leone. The population of Kono District is 352,328. Kono District borders Kenema District to the southwest, The Republic of Guinea to the east, Koinadugu District to the northeast and Kailahun District to the southeast.
The concessions currently have all permits, fees, environmental approvals and exploitation licenses required by the government in place. The concession land is government-owned and leased to St. Watson for 33 years. The government and Chiefdoms receive 30% of net recovery as a royalty.
It is estimated that this concession will produce in excess of 20,000 ounces per year of gold with very low operational costs making the venture very profitable for both partners.
In addition we have been looking at other properties in both South America and Africa to enhance and grow our business.
The future for Uranium Hunter is very promising and our dedicated team of professionals will be working for the company and you, our shareholders, to enhance the value of the Company and the value of our stock.
We anticipate more news coming out in the near future on more developments.
President – Uranium Hunter Corporation
About Uranium Hunter Corporation:
Through its wholly-owned subsidiary Cuyuni Mining, Uranium Hunter’s mission is to build a fully-integrated uranium gold, precious metals and gemstone production company that incorporates exploration, development, acquisition, mining, ore processing and sales. The Company targets historically proven and highly prospective properties in South America and Africa which can come to production quickly. For more information visit the company’s site at www.urhncorporation.com.
This press release contains forward-looking statements, particularly as related to, among other things, Uranium Hunter’s business strategy. The words or phrases “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “considers” or similar expressions are intended to identify “forward-looking statements.” Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, and other factors that may cause Uranium Hunter’s actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks, uncertainties and other factors that are detailed in Uranium Hunter’s Quarterly and Annual Reports and other documents Uranium Hunter files from time-to-time. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Uranium Hunter cautions readers not to place undue reliance on such statements. Uranium Hunter does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Uranium Hunter’s expectations and estimates.
SOURCE Uranium Hunter Corporation