BELO HORIZONTE, BRAZIL–(June 29, 2017) – Jupiter Gold Corporation (“Jupiter Gold” or the “Company”) announced today that on June 17-18, 2017 its chief executive officer, Marc Fogassa, and its senior geologist, Rodrigo Mello, inspected on foot Jupiter Gold’s Paracatu gold area. This mineral right was elevated to an exploration permit following the publication of such authorization by the Brazilian government gazette on April 12, 2017.
The permit encompasses 773 acres and is situated downstream of the largest gold mine in Brazil, located in Paracatu, Minas Gerais, owned and operated by Kinross Gold. This open-sky mine has already produced 7 million ounces of gold, with 9 million ounces of gold remaining, according to public filings from that company; it produced 483,014 ounces of gold equivalents in 2016. During the Paracatu permit visit, precise locations of drill holes were demarcated by Mr. Mello for a preliminary analytical campaign planned to start in July 2017.
The exploration potential of the Paracatu permit stems from the presence of alluvial terraces on both margins of the creek named “Corrego do Rico” (also known locally as “Corrego do Ouro” or Gold Creek), which crosses the permit area. This can be seen from the map included in this press release. The creek starts at Morro do Ouro (“Gold Hill”), the Kinross mine, and drains through the permit area and beyond. If confirmed, mineralization in the permit area would likely lend itself to utilization of a low-cost, high-efficiency modular plant for alluvial gold retrieval, a technology developed and already in use by the Company in one of its Jequitinhonha areas.
(Jupiter Gold’s permit in relation to Kinross’ Morro do Ouro gold mine in Paracatu.)
(A photograph of part of the Paracatu permit area.)
The lead project geologist, Rodrigo Mello, has over 30 years of experience and has worked for AngloAmerican, AngloGold and Goldcorp. Mr. Mello’s experience includes being the president of MPBA, the Brazilian mining company that developed the Tucano mine, which is, today, the second largest gold mine in Brazil. He has written, as Qualified Person, 19 technical reports, following the NI 43-101 code, mostly for gold projects.
(Geologist Rodrigo Mello at the Paracatu mineral rights area on June 17, 2017.)
Industry Guide 7 Compliance
We note that that as of now this property is without known reserves, according to such the definition under the SEC’s Industry Guide 7. In further compliance with Industry Guide 7, we state that our proposed program for this area is exploratory in nature.
About Jupiter Gold Corporation
Jupiter Gold Corporation (“Jupiter Gold”) is focused on gold projects in Brazil. More information on Jupiter Gold is at www.jupitergoldcorp.com.
Safe Harbor Statement
This press release contains forward-looking statements made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Jupiter Gold Corporation’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Brazil, general economic conditions, geopolitical events and regulatory changes, availability of capital, Jupiter Gold Corporation’s ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Chairman & Chief Executive Officer
Jupiter Gold Corporation