Sidney Resources Corporation Secures Lease for Private Patent Claims
09 Januar 2015 - 9:00PM
InvestorsHub NewsWire
LEWISTON, Idaho - January 9, 2015 -
InvestorsHub NewsWire - Sidney Resources Corporation (SDRC)
(OTCPK:SDRC)
today announced that it has executed an agreement with Leland
Minerals, LLC (LELM) of Spokane, WA, to acquire the exclusive
rights for a 5 year period with an exclusive option for an
additional 5 years to develop, explore and produce mineral revenue
on three private patented claims and two unpatented claims located
on property owned by LELM and to process the existing tailings
piles located on the property. The property is located in the
famous Warren Mining District located north of McCall, Idaho. Based
upon the economic feasibility SDRC will remove an estimated 2000
tons of tailings for refining within 9 months. SDRC has issued
1,000,000 shares of its common stock as partial consideration for
this acquisition in addition to a $60,000.00 cash payment. If and
when the property begins production, the Corporation will also pay
a 3% net smelter return revenue interest.
Gregg Lindner, the CEO and President
of the Corporation stated "We completed extensive historical
research regarding gold and silver production of these private
patented claims and believe we have identified a project with
limited capital risk but with a significant upside potential for
our shareholders. We intend to commence our due diligence
immediately and if things go as expected, to begin development
activities, including possibly drilling to re-enter the old
structure that is located on the property."
About Sidney Resources
Corporation:
The Company is continuing its focus
on the evaluation, acquisition, exploration and development of
mineral resource properties.
For further information, please
visit the Company's www.sidneyresourcescorporation.com or
contact:
Dan Hally, Secretary/Treasurer and
VP of Finance
Phone: (509)
552-9858
info@sidneyresourcescorporation.com
Gregg Lindner, CEO and
President
Phone: (414) 379-7210
info@sidneyresourcescorporation.com
Safe Harbor Forward-Looking
Statements
To the extent that statements in
this press release are not strictly historical, including
statements as to revenue projections, business strategy, outlook,
objectives, future milestones, plans, intentions, goals, future
financial conditions, future collaboration agreements, the success
of the Company's development, events conditioned on stockholder or
other approval, or otherwise as to future events, such statements
are forward-looking, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The forward-looking statements contained in this release are
subject to certain risks and uncertainties that could cause actual
results to differ materially from the statements
made.
Source: Sidney Resources
Corporation
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