Prospect Uranium, Inc. Announces Secure Energy, LLC. Joint Ventureadmin
Prospect Uranium, Inc., a subsidiary of Tonogold Resources, Inc., announces the formation of Secure Energy LLC., a joint venture for the purpose of acquiring and developing advanced uranium exploration properties amenable to in-situ recovery mining methods.
The Secure Energy LLC. joint venture is an agreement between Prospect Uranium, Inc., Donbarra Group LLC and Hardbow Uranium LLC.
The joint venture will be managed by Prospect Uranium, Inc. which has a right to purchase up to 80% of the joint venture.
Donbarra and Hardbow will advance funds for property acquisition as well as providing land acquisition and development services. Both companies are managed by experienced mining executives.
Prospect Uranium has provided the initial geological evaluations as well as data compilation, and mapping for the specific areas under consideration. Prospect will manage and primarily finance future drilling programs and exploration.
Donbarra is managed by Gordon Haworth, a member of Tonogold Resources, Inc.’s advisory board.
Jeffrey Janda, President of Prospect Uranium, Inc., commented: “This joint venture will advance our acquisition efforts by providing funding and a knowledgeable, on-the-ground mineral acquisition, development and permitting executive.”
Prospect Uranium, Inc. is a uranium exploration company based in La Jolla, California. Prospect is a subsidiary of Tonogold Resources, Inc. For more information on the Company visit their websites at www.tonogold.com and www.prospecturanium.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This press release contains certain forward-looking information about Prospect Uranium, Inc. (“Prospect”) and Tonogold Resources, Inc. (“Tonogold”) which is intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s),” “potential,” “goal,” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of Tonogold Resources, Inc., that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include: our lack of operating revenue and earnings history, our need for additional capital to pursue our business strategy, the grade and quantity of minerals in our projects may not be economic, we do not have fee title to our properties, but derive our rights through leases and the Mining Law, we are a non-reporting company and as such do not make periodic filings with the Securities and Exchange Commission, we trade on the Pink Sheets and there can be no assurances that a liquid market will develop in our securities, mining is subject to extensive environmental regulations and can create substantial environmental liabilities, gold and silver are commodities which have substantial price fluctuations, a drop in gold and/or silver prices could adversely affect future profitability and/or capital raising efforts, and mining can be dangerous and present operational hazards for employees and contractors. Readers are cautioned not to place undue reliance on these forward-looking statements. Tonogold does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact: Phillip Winter