AIM Exploration Inc. Background and update as of Fall 2016
AIM Exploration Inc. (OTCQB:AEXE) is pleased to
provide a comprehensive background and update as of Fall 2016
AIM Exploration Inc. was originally formed with the
objective to develop a Feldspar mine in the Philippines and source other
valuable mining properties worldwide. In mid 2014 AIM acquired what is
considered a rich anthracite coal mining concessions in Peru from Percana
Mining Corp., a privately held company. AIM continued to look at and consider
other properties however none of the other properties AIM reviewed had the long
term profitability potential AIM was looking for. During this period AIM
continued to operate the Feldspar properties in the Philippines however in 2016
the change within the government in the Philippines made significant changes to
mining laws which AIM studied and after careful consideration elected to cease
all operations in the Philippines and concentrate all efforts and resources on
the Peruvian properties in view of the high profit potential.
As stated above in mid 2014,
Aim Exploration, Inc. entered into a Mining Concession Asset Acquisition
Agreement with Percana Mining Corp.. Through this acquisition AIM acquired
ownership/control over 1,000 hectares of mining concessions located in Peru.
Prior the
completion of the acquisition AIM hired a USA geologist/ mining engineer (Mr.
Karl Gurr of Gustafson and associates) to complete a site visit and review the
previous documentation and reports previously obtained by Percana Mining Corp.
Mr. Gurr provided a detailed report to AIM and based on this report AIM was
confident the concessions would prove out. The concessions appeared to be rich
with anthracite coal and all previous samples (and subsequent samples) tested indicated
a very high quality of anthracite. The mining concession properties are
adjoining properties, on one section of the property there were and continues
to be approximately 20 operating mining tunnels that are, and continue to be
operated by artesian miners who reside close by. AIM has continued to allow the
artesian miners to operate on their own however the company has contracted with
virtually every miner to work strictly for AIM. In addition, AIM, through the
direction and guidance of Mr. Karl Gurr intends to further explore and develop
the properties. One of the reports the previous owners (Percana) obtained by a
qualified Peruvian geologists estimates there are in excess of six hundred
million tons of coal within their properties, we must advise however this
report is not 43-101 compliant and therefore cannot be relied upon for
investment purposes however AIM believes strongly in the report.
From a
background standpoint prior to AIM taking control of the property the previous
owners worked very hard over a number of years developing a strong rapport with
the local inhabitants in villages close to the mining site. Through their
efforts they obtained approval from the locals to explore and develop the
properties. AIM continues to work very closely with the previous owners as the
current President & CEO of AIM was the President of Percana and the other
director of Percana is very closely involved and will be overseeing the
operations in Peru. AIM has developed very close relations with key people in
Peru and has strong ties not only with the locals but with strong legal and
accounting teams in Peru.
AIM has
personnel in Peru working diligently to continue to develop operations within
the country. AIM has spent a great deal of time developing and refining the
infrastructure to ensure profitable operations, including but not limited to
coal extraction from the existing tunnels, transportation of the coal from the
mine site to a holding site in Trujillo (approx. 200 KM), and further transport
to the Port of Salaverry located within 2 KM of the holding site. AIM has
developed strong ties with the Port Authority and feels extremely confident of their
co-operation.
The board of
directors of AIM are seasoned professionals as is the case with all the
individuals and firms they choose to work with, AIM carefully considers
everyone they choose to work with as they must understand the underlying AIM
philosophy ---- AIM cares! AIM not only cares about the people but cares about
the environment. An example how much we care is we have over the years assisted
members of the small communities close to the mine sites with medical needs,
and helping the families and children in the communities through bring much
needed medication, sporting equipment to the children and we even hold annual
Christmas parties for the needy families.
Of late AIM,
knowing that miners are working in less than desirous situations they recently
hired a company Caduceus Software Systems Corp. (aka Caduceus) to work with the
company to ensure the safest environment possible. Caduceus is a company that
specializes in harsh environment situations and safety consulting, and can
provide certificates for AIM’s mining crew. It is intended that Caduceus work
with the miners and provide the AIM crew with Confined Space and Advanced
Rescue entry and attendant certificates, Fall protection and Fall Arrest cards,
Draeggar Monitoring training, and conduct FIT tests.
While AIM
continues to set up and refine operations within Peru the President of AIM has
been concentrating on the marketing of the anthracite coal. Over the years many
potential purchasers have shown a great deal of interest working with AIM,
however knowing and understanding the long term effects of developing marketing
relationships AIM was very careful selecting the group they feel has the
strongest long term potential for the shareholders of AIM. During the past 18 months AIM has developed a
very strong working relationship with an Indian firm (Prina Energy) to market
the coal. The relationship with the President of Prina Energy is very strong.
After a site visit in Peru, Prina not only completely viewed the entire AIM
properties but was also introduced to all AIM personnel in Peru and met with
the key players in Peru and developed a strong understanding of the detailed
logistics AIM has developed.
Through this
association initially Prina Energy provided AIM with an LOI to purchase coal
direct; however subsequent to that AIM and Prina have developed an even
stronger relationship and is now in the final stages of setting up a joint
venture operation head-quartered in Dubai UAE DMCC.
The DMCC was established in 2002 as a strategic initiative of the
Government of Dubai with a mandate to provide the physical, market and
financial infrastructure required to set up and operate a thriving commodities
marketplace, today they are officially recognized as the largest Free Zone in
the United Arab Emirates with over 12,000 registered companies under license.
Setting
up the marketing arm in Dubai is a strategic move for long term growth and
profitability for AIM, Prina has strong ties in the UAE not only with high
level long term buyers but access to appropriate financing which AIM will
require for operational working capital.
In
addition, Prina, through close connections will attract the level of buyers
needed to make AIM a profitable corporation over the long term.
This
joint venture will be completely set up in the very near future and operations
will commence.
It
is anticipated that commencing January 2017 all the operations will be underway
and shipping of coal is anticipated for March 2017.
About Aim Exploration:
The Company is an Anthracite coal mining and
exploration company and plans to mine 1,000 hectares of land. We have expertise
in business, mining, and legal with our distinguished board of directors. We
have amicable relationships with all parties involved in mining in Peru. We are
a SEC reporting publicly traded company with the symbol (OTC: AEXE).
Forward-Looking
Statements and Disclosures Certain information set forth
in this press release contains "forward-looking statements" and
"forward-looking information" under applicable securities laws.
Except for statements of historical fact, certain information contained herein
constitutes forward-looking statements, which include management's assessment
of future plans and operations and are based on current internal expectations,
estimates, projections, assumptions and beliefs, which may prove to be
incorrect. Some of the forward-looking statements may be identified by words
such as "estimates," "expects," "anticipates,"
"believes," "projects," "plans,"
"targets," and similar expressions. These statements are not
guarantees of future performance and undue reliance should not be placed on
them. Such forward-looking statements necessarily involve known and unknown
risks and uncertainties, which may cause AIM's actual performance and financial
results in future periods to differ materially from any projections of future
performance or results expressed or implied by such forward-looking statements.
Contact:
AIM Exploration Inc.
J.R. (Bob) Todhunter
Director, President & CEO
www.aimexploration.com
info@aimexploration.com