Trilliant will be in full compliance with the new mining laws of Ecuador which come into effect in February of 2010 and maintain that Mining companies be operating at a minimum of 100 tons per day by that time. Trilliant Exploration plans to be a very positive example for foreign investors into the mineral rich country of Ecuador
New York, N.Y. (PRWEB) July 14, 2009
Trilliant Exploration Corp. (TTXP.OB-OTC), a fully operational and producing gold mining company with concessions in Southern Ecuador, announced today that its fully owned Ecuadorian operating subsidiary Ayapambagold S.A has signed a Letter of Intent (LOI) with publicly traded, GB Global AG of Switzerland, (35K.Frankfurt) to purchase a 100% stake in GB Global's Compania Minera Santafemining S.A (Santa Fe). Terms of then acquisition have not been released at this time.
Compania Minera Santafemining located in the El Oro Province, Ecuador, has been in operation for since 2007. Santa Fe, which processes rock and sand tailings, is currently being retrofitted to process 150 tons of rock per day.
"We see Santa Fe as a key building block in El Oro province. The acquisition of Santa Fe's processing facilities combined with Muluncaygold will help us quickly move our Ecuadorian operations to full capacity and Trilliant expects to be operating at a combined 200 tons per day very soon," announced William Lieberman, Chief Executive Officer of Trilliant Exploration. "Trilliant will be in full compliance with the new mining laws of Ecuador which come into effect in February of 2010 and maintain that Mining companies be operating at a minimum of 100 tons per day by that time. Trilliant Exploration plans to be a very positive example for foreign investors into the mineral rich country of Ecuador," he added.
For more information and recorded video and interview with CEO William Lieberman please visit: http://www.miningstock.info
About Trilliant Exploration Corporation
Trilliant Exploration Corporation is a producing mineral exploration and development Company with its Administrative offices located in New York and principle operating concessions in Southern Ecuador, South America. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of ore, and reclamation of mining properties.
Trilliant Exploration is currently exploring new opportunities in El Oro province and is continuing its upgrade of Muluncaygold Corp S.A. The Company is well on track to ramp up its ore processing capacity to 200 tons-per-day by the third quarter of 2009 and plans to reach its goal of 750 tons-per-day within the next 18 months.
The company's Muluncay Gold Project currently processes rock at 50 tons-per-day producing an average of 6 to 8 grams of gold per ton from its concessions located in the center of the Portovelo-Zaruma mining camp. The Portovelo-Zaruma region has conservatively produced 4.5 million ounces of gold since 1905.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties.
All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.