BELO HORIZONTE, BRAZIL –(May 22, 2019) – Jupiter Gold Corporation (OTC: JUPGF, “Jupiter Gold” or the “Company”) today reported that its first royalty project, the Pindaíba Project, operated by Brazil Minerals, Inc. (OTC: BMIX, “Brazil Minerals”) is expected to begin production in the third quarter of 2019. The Company’s gold recovery plant will be utilized in operations and Jupiter Gold will receive a 50% royalty on gold revenues. Brazil Minerals will retain the other 50% as well as 100% of diamond revenues.
The Jequitinhonha Valley has been mined for gold and diamonds since the 1700’s and new localized discoveries of attractive deposits are still being made. Pindaíba is the name of one such deposit area. Over ten years ago, more than a thousand settlers were mining Pindaíba, and have since been entirely removed. Prior settler activity is one of the strongest markers for a quality mining site, and this information was one of the criteria used in evaluating this project against other opportunities prior to a drilling campaign. In 2018, Brazil Minerals completed 35 drill holes in a subsection of Pindaíba. All drilled holes were positive for gold and a majority of them also showed specific mineral markers for diamonds.
Jupiter Gold expects that, with revenues generated from the royalty received from the Pindaíba Project, there exists a good probability that it will become cash flow positive, although no definite assurance can be given. As previously disclosed, the Company has no long-term debt and its bylaws prohibit the issuance of variable-rate convertible debt.
About Jupiter Gold Corporation
Jupiter Gold Corporation (OTC: JUPGF) is a near-revenue gold royalty company that also fully owns several exploratory-stage projects in Brazil in gold, palladium, platinum, and manganese. Jupiter Gold will be receiving 50% of the gold revenues from the Pindaíba Project, its first royalty project. Additionally, Jupiter Gold owns 100% of six gold projects, 100% of a gold/palladium/platinum project, and 100% of a manganese project, all totaling an aggregate of 101,366 acres (for comparison: almost seven times the size of the island of Manhattan).
Jupiter Gold is audited by a U.S. auditor and files reports regularly with the Securities and Exchange Commission. Its common stock trades in the U.S. over-the-counter market under the ticker symbol JUPGF and its shares may be transacted through various brokers-dealers such as TD Ameritrade, Inc., Glendale Securities, Inc. and Charles Schwab Corp.
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. We advise U.S. investors that its projects, or those of Brazil Minerals, Inc., as of now do not have measured “reserves” as such term is specifically defined by the Securities and Exchange Commission.
Marc Fogassa, CEO
Jupiter Gold Corporation