BELO HORIZONTE, BRAZIL–(December 27, 2016) – Jupiter Gold Corporation (“Jupiter Gold” or the “Company”) is a new Brazil-focused gold company. Today, Jupiter Gold, through its local subsidiary, received from the Brazilian mining department, Departamento Nacional de Produção Mineral (“DNPM”), the exploration permit (“Alvará de Pesquisa”) for the mineral right designated by the number 860.807/2016 in DNPM’s database. The exploration permit awarded is through 12/27/2019, which is the deadline for Jupiter Gold to submit a research report on this mineral right to DNPM. However, under certain circumstances, Jupiter Gold may apply for an extension of up to an additional three years (until 2022) if it needs time for further research. An approved research report by DNPM is a necessary step to a commercial mining license.
Mineral right DNPM 860.807/2016 is located in the municipalities of Crixás and Uirapuru, state of Goiás, in Brazil, and has a surface area of 1,993.02 hectares (approximately 4,925 acres). Crixás was founded in the 18th century by pioneers searching for gold. Today, Crixás has 15,000 inhabitants, and its municipality is home to the some of the largest gold operations in Brazil, with large gold mines and projects from AngloGold Ashanti and Cleveland Mining. According to publicly available information, the AngloGold Ashanti operations in Crixás encompass three underground and two open-pit mines. Production of over 4 million ounces of gold has occurred from these mines and more than 3 million ounces remain; the 2015 annual yield was 132,000 ounces of gold.
The area of DNPM 860.807/2016 is located on the contact between the greenstone belt that hosts the greater than 7 million-ounce gold orebody mined by Anglo Gold Ashanti, and older gneisses. The area has potential for primary mineralization, but the main target for Brazil Minerals is the significant extension of alluvial sediments from the two most important creeks draining the Crixás orebody, the Vermelho and Antas Creek, that run over 2.2 miles inside the area. The deposit lies around 18 miles upstream from the area, which means that the alluvial sediments detected by remote sensing should be mineralized in gold. There are no signs of past mining at the area, which means that, probably, the gold grade is attractive for modern alluvial mining, specially through the usage of GRUs.
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