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DFLR; Mining Operations now Primary Focus. DFLR is pleased to announce their first smelter shipment of 5.07 metric tons of gold and silver concentrate was made today. SAN DIEGO
Diversified Financial Resources Corporation Investor Relations: Equitilink, LLC Toll free 877-788-1940 Local or International 858-824-1940
Diversified Financial Resources Corporation (OTCBB:DFLR) ("DFLR") is pleased to announce today the La Currita mining and milling operation's first smelter shipment of approximately 5.07 metric tons concentrate. Preliminary assays for the mine's first smelter shipment (assayed by the mine's laboratory) are:
9.1 Troy ounces (282.98 grams) of gold per metric ton concentrate and 630.98 Troy ounces (19.6232 kilograms) of silver per metric ton concentrate
for a shipment of approximately 45 ounces of gold and 3,200 ounces of silver. Using metal prices for January 2005 low value for gold of $412/ounce and the 2004 average silver price of $6.67/ounce, the shipment is valued at approximately $40,000 gross. Production and recuperation costs are not included in this figure.
According to John Chapman, president and CEO of DFLR, The mill at La Currita has been operating at approximately fifty percent (50%) capacity for 13 days. Which produced the concentrate that has been shipped to smelter and the smelter's assay should be available after two weeks. At that time, adjustments to the value of the shipment will be taken for shipping, penalties, smelter treatment, and metal prices used by the smelter to calculate payment. A smelter update on that shipment will be forthcoming.
A mine status report to the Board of Directors is awaiting a current inventory of the mine site. The inventory should be completed by the end of the week. As the mine is developed and the mill process circuit is fine-tuned, it is expected that the average grade of concentrate will improve. Further, this mining and milling operation in Chihuahua, Mexico is expected to move steadily toward a goal of (97%).
This report has been compiled in conjunction with a registered geologist in the State of Arizona. She has consented in writing to the inclusion of such technical information in the form in which it appears in this report. The competent person is Rebecca A. Miller, R.G., geologist, and a consultant to Diversified Financial Resources Corporation.
About Diversified Financial Resources Corporation:
DFLR is currently a holding company with operations in real estate and mining. Investors are strongly encouraged not to make an investment that they cannot afford to lose. Furthermore, DFLR does not recommend that any shareholder take any action solely based upon the information provided above. DFLR strongly encourages the public to read the above information in conjunction with its Form 10KSB for December 31, 2003, and 10QSB for March, June and Sept. 30, 2004. These disclosures can be viewed at www.sec.gov, via navigating to the Company's EDGAR filings. DFLR's website can be viewed at www.dfrc.net.
This press release may contain forward-looking statements that are based on a number of assumptions, including the successful completion of the necessary due diligence in a short period of time. Although DFLR believes these assumptions are reasonable, no assurance can be given that they will prove correct. These forward-looking statements involve a number of risks and uncertainties, including competitive market conditions, successful integration of acquisitions, and the ability to secure sufficient financing due to such risks and uncertainties.
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