BELO HORIZONTE, BRAZIL–(March 20, 2018) – Jupiter Gold Corporation (“Jupiter Gold” or the “Company”) announced today that it expects to begin the initial drilling campaign of its Paracatu Project in or before May 2018. The Paracatu Project encompasses 773 acres and is situated downstream of the largest gold mine in Brazil, “Morro do Ouro”, owned and operated by Kinross Gold, a large global gold miner. Morro do Ouro had an ore body with 16 million ounces of gold; its annual gold production in 2016 was over 480,000 ounces, according to published reports.
The senior geologist on the Paracatu Project is Rodrigo Britto Mello, with over 30 years of experience and technical oversight at some of the largest gold companies in the world such as AngloAmerican, AngloGold and Goldcorp. He has written 19 geological reports, mostly on gold formations in Brazil. Mr. Mello’s experience includes being the president of the Brazilian mining company that developed the “Tucano” mine, the second largest gold mine in Brazil.
This initial drilling campaign at the Paracatu Project is set to collect samples at 1-meter intervals in six drill holes spaced 100 meters apart. Analytical examination of the samples will be conducted at the premier laboratory in Brazil, used by major gold companies operating locally. The field work should last three weeks and afterwards the analytical reporting may take three months.
In Mr. Mello’s opinion, the Paracatu Project area has significant potential for alluvial gold. The exploration potential of the Paracatu Project stems from the presence of alluvial terraces on both margins of the creek known locally as “Corrego do Ouro” (Gold Creek), which crosses the project’s area. The creek starts at Morro do Ouro, the Kinross Gold mine described above, and drains through the project 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 in use by Brazil Minerals in one of its Jequitinhonha Valley areas.
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