VKML $200M AQUISITION  // Viking Minerals Inc: T

VKML >>> $200M AQUISITION  // Viking Minerals Inc: The Company enters into an agreement to acquire Discovery Day Gold Mine assets valued at over $200,000,000 in Northern California.

2013-01-17 08:00 ET - News Release


PEORIA, AZ, Jan. 17, 2013 /PRNewswire/ - Viking Minerals Inc. (VKML-OTCBB) announces on behalf of the Board of Directors that the Company has concluded the acquisition agreement for the Gold Mine in Northern California.

The Mine consists of 48 Claims and covers an area of 950 acres Which has Proven Ore, Probable Ore, and Geologically inferred resource along with a qualifying report NI-43-101. According to one of the geological reports the total geologically inferred resource is 1,165,000 ozs of gold in 4 major veins, number of known veins is 6, and Reserve Valuation is around $ 225,000,000 USD, at $ 1500 per ounce. The mine building cost was $5,000,000 USD along with 100 ton/day mill on site and fully permitted until 2016.

Charles Irizzary commented," We are very excited to have concluded the agreement".

The Company wishes to correct the previous News Release which stated the closing of the acquisition agreement by Jan 8, 2013. The Board wishes to retract the content of the News Release made on Dec.27, 2012 in reference to the date of acquisition agreement.

Forward-Looking Statement

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with smaller reporting companies, including without limitation, other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

SOURCE Viking Minerals Inc.