BELO HORIZONTE, BRAZIL–(April 12, 2017) – 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 831.883/2016 in DNPM’s database. The exploration permit awarded is through 04/17/2020, 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 2023) 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 831.883/2016 is located in the municipality of Paracatu, state of Minas Gerais, in Brazil, and has a surface area of 312.66 hectares (approximately 773 acres). The city of Paracatu was founded in the early 17th century by pioneers searching for gold and silver. Today, Paracatu is a city with 100,000 inhabitants. Only 1.2 miles from city center sits the largest gold mine in Brazil, on a deposit named “Morro do Ouro”, which is owned and operated by Kinross Gold, one of the world’s largest gold producers. It annually produces 480,000 ounces of gold and is also the largest gold deposit in Brazil, with 16 million ounces of gold (6 million ounces of past production and 9.6 million ounces in reserves, as of 2015 Kinross Gold’s published estimates).
There has been extensive gold production in the Paracatu region from alluvial deposits, mainly along a river stream called “Córrego do Ouro” and also known as “Córrego do Rico.” This watercourse that starts near Morro do Ouro mine has, for millions of years, eroded rock and transported gold for the formation of alluvial deposits. Mineral right DNPM 831.883/2016 is crossed by such watercourse.
In local research a simple alluvial operation in an area downstream from our mineral right DNPM 831.883/2016 has claimed annual production of 4,000 ounces of gold, although we have not verified such data. Our mineral right DNPM 831.883/2016 is located upstream from such locale, and thus geographically closer to Morro do Ouro mine.
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