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SALT LAKE CITY, UT–(Marketwired – Jun 27, 2016) – INCEPTION MINING INC. (OTCQB: IMII) (“Inception” or the “Company”) is pleased to announce positive First Quarter Earnings of $.0343/share post the recently announced 5.5:1 reduction in share count.
The operating entity has been meeting its guidance production goals, diligently working on cost reductions, restructuring operations and expanding onto recently acquired lands such that continued positive operating income prior to corporate expenses is a realistic short term goal given the current spot price of gold.
The “Company” is embarking on a 1,000 m production drilling campaign of the recently acquired lands and is very hopeful that the results will confirm the initial drill data (a 30-meter horizontal projection grading 2.99 gpt recoverable) and geophysical data gathered such that upon completion of the drilling we can immediately begin mining so as to insure continued production.
The “Company” had assumed management control of Minera Cerros Del Sur, the mine operator of the Clavo Rico operation in Honduras in 2015. Both the mine and Operating entity are wholly owned by CLAVO RICO LTD, which was acquired via the previously announced merger, and is operated as a wholly owned subsidiary of the “Company.” Its mining concessions include several historical underground operations dating back to the early Mayan’s and Spanish occupation.
The operating entity has been engaged in processing a historical tailings ( > 3gpt) body along with several open pit (3-6 + gpt) ore bodies, utilizing a new 650,000 ton membrane lined leach system and ADR recovery plant.
About Inception Mining Inc.
We are a minerals resource company engaged in the production acquisition, exploration, and development of primarily gold related properties. Our primary target properties are those that have been the subject of historical exploration having significant supporting data.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements with respect to the potential mineralization and geological merits of the Company properties. There can be no assurance statements will prove to be accurate and actual results and future events could differ materially from anticipated in such statements.
Inception Mining Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events except as required by applicable securities legislation.