For Immediate Release
October 5, 2016
For Further Information Contact:
John F Stapleton | 480-440-1449
El Capitan Precious Metals Executes Agreement with AuraSource
for Sale of 600,000 Metric Tons of Head Ore
and Hosts Shareholders at New Mexico Mine Site
Scottsdale, Arizona – El Capitan Precious Metals, Inc., (OTC/QB: ECPN) announced that it has executed its agreement with AuraSource, Inc. (OTC Markets: ARAO) for the sale of up to 600,000 metric tons of head ore over the next 12 months. This agreement, as previously reported, is renewable for five additional, one-year terms.
The revenue to ECPN would be $180 million per year at a cost of approximately $30 per ton for mining and loading. The agreement is contingent upon Right of Way road access and AuraSource’s ability to secure its buyer and financing for the prepayments to El Capitan. The Company is confident it will be able to provide the road access required.
At the Shareholders’ Meeting in New Mexico last week, shareholders were presented with a description of the precious metals recovery process, including samples of the processed precious metals product.
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