Feb 28 2015
Redhawk Resources, Inc. ("Redhawk" or the "Company") is pleased to announce that it has entered into a non-binding letter agreement with Mexplort Perforaciones Mineras S.A.("Mexplort"), a subsidiary of Corporación América ("Corporación América"). Corporación América is a Buenos Aires, Argentina headquartered privately controlled international conglomerate with operations in nine countries in numerous business sectors.
The letter agreement defines an alliance formed to jointly pursue opportunities to acquire, develop and participate in precious metal mining projects in North and South America. The initial focus will be on projects with an emphasis on gold.
Stephen Barley, Executive Chairman of Redhawk stated: "We are extremely pleased to formalize the relationship with Mexplort. Our companies have been jointly reviewing several mining projects in both North and South America. Senior executives in Redhawk and Mexplort have had a long term business and personal relationship such that this alliance is a logical progression. Redhawk has a strong team of technical experts in the mining sector and excellent knowledge of mining in North America. Corporación América has decades of experience in numerous areas of business including the resource extraction business, a strong and secure financial foundation, and is active in South America and parts of Europe. The relationship will be a synergistic combination of North American mining industry experience and a strong financial partner with a major corporate presence. The goal of the alliance is to acquire, develop and participate in precious metals projects in North and South America during the current downturn in the mining sector and efforts to achieve these goals are already in progress."
About Mexplort
Mexplort is a mining company focused on the exploration and development of high quality mineral deposits. Mexplort currently has an option to acquire 100% of the Jaguelito project, located in the most proliferous precious metal producing district in Argentina. Mexplort is a subsidiary of Corporación América, a diversified Argentine private economic group with a business presence in nine countries and various business sectors.
About Redhawk
Redhawk is a Canadian-based resource exploration and development company with a current focus on the advancement of the Copper Creek copper-molybdenum project in San Manuel, Arizona through a joint venture with Anglo Amercian. The Copper Creek property consists of approximately twenty-nine square miles of contiguous patented and unpatented mining claims and state prospecting permits, located about 70 miles northeast of Tucson, Arizona. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure including power, rail, water, roads and qualified consultants. Redhawk is concurrently implementing a strategy for growth through the opportunistic acquisition of interests in precious metals projects during this period of decreased valuations in the mining sector.
ON BEHALF OF THE BOARD
J. Stephen Barley, Executive Chairman
Source: http://www.redhawkresources.com/