-- No change in O/S past year, 61M O/S and 17M float
DNRR News: Denarii Acquires Gold Property
CARSON CITY, Nev., Jun 16, 2010 (GlobeNewswire via COMTEX) -- Mr. Dennis Lorrig, the President and CEO of Denarii Resources Inc. (OTCBB:DNRR) (Berlin:8D3) (Frankfurt:8D3) is pleased to announce that Denarii Resources Inc. (Denarii) has entered into an agreement to acquire an 80 percent interest in Touchstone Precious Metals Inc. ("Touchstone") of British Columbia, Canada. Touchstone has an agreement to acquire a 100 percent interest in the Lucky Thirteen gold and strategic metals placer claim located five kilometers north of Hope, British Columbia, Canada.
Mr. Lorrig stated: "After many months of due diligence by our companies' management, its professional engineers and geologists; we have finally very selectively completed negotiations to acquire a precious metal property. This Canadian property far exceeds our criteria in its overall potential: location access, weather conditions, proximity to a trained labor force and heavy duty equipment servicing facilities. We are looking forward to the immediate development of the property."
The Lucky Thirteen Placer claim BC # 52082 is 168 hectares (415 acres) in size. The gravel bar on the north bank of the Fraser River has a targeted deposit area of approximately 50 hectares (124 potential acres). Previous production records indicate the minable area of the gravel bar has a potential of 13,800 kg (444,000 oz) of gold. Recent extensive sampling and testing on a 3.2 hectares (8 acres) area located at the south end of the property was estimated to contain a gold reserve of 830 kg (26,600 oz). The previous test results also showed that the gravels contained commercial grades of platinum, palladium and rhodium.
Denarii's Chief Professional Engineer for the project, Mr. Stan Ford, P. Eng. MBA, stated, "The previous geological and engineers reports that were researched indicate extensive potential for the production of Gold, Platinum, Palladium and Rhodium. The next step is to complete a 120 day survey of the gravel bar including seismic profiling, drilling, trenching and detailed sampling. The results will be used to develop a cost effective method of production to maximize the recovery of all the precious and strategic metals contained within the property."
Denarii will provide details of the further development of this property as it becomes available.
About Denarii Resources, Inc.
Denarii Resources Inc. is in the mineral resource exploration and development business and currently owns a 100% interest in the McNab Molybdenum property located in South-West, British Columbia, Canada. Denarii is continually moving forward with researching and acquiring multiple assets that it hopes will generate positive cash flow for Denarii. Denarii is presently reviewing a number of precious metal properties. These properties are near or in production Gold and Silver properties located in North, South and Latin America. Specifically included in the companies due diligence is a Gold property in South-East California and a Gold, Silver and Copper property in South America, as previously announced in other corporate news releases. Denarii was founded in 2006 and is based in Carson City, Nevada. For more information, please visit www.denariiglobal.com.
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Denarii Resources, Inc. please refer to its website at www.denariiglobal.com.