Aug. 30, 2010 (TheNewswire.ca) --
Kamloops, British Columbia — Alliance Mining Corp. (OOTC:ANMNF) (CNQ:ALM) (the "Company")(CNSX: ALM) is pleased to report that the Company is moving towards commencing its exploration programs on its core mineral properties located in Yavapai County, Arizona. The Company expects to receive one of its two final drilling permits within the next few weeks, while the last permit (Plan of Operation) is being amended due to recent findings from reconnaissance programs on the properties.
The permitting of the mineral properties has taken much longer than expected due to the Company's amendments and a shortage of staff in some of the applicable agencies resulting from the fire season and summer holiday season. The Company is planning to start geophysical programs on the properties within a few weeks with the drilling to commence in late October through to May, subject to the Company closing its previously announced financing.
Management has also been addressing the issue of liquidity of the Company's securities and is presently looking at the option of dual listing on other stock exchanges in North America and overseas, provided the Company can meet the stock exchange listing requirements. Aggressive marketing and Investor Relation campaigns are proposed prior to commencing the drilling programs. Management is also working in other areas that it believes will significantly enhance its position as a junior exploration company once and if they come to fruition.
In light of new findings on some of the Company's core mineral properties, the Company has chosen not to renew three of its smaller mineral properties with the Bureau of Land Management (BLM) which expire on September 1,, 2010, namely the Gold Hill, Twin Eagles and the Quartz Mountain properties. Dropping these smaller properties will allow management to focus its attention on advancing its core mineral properties that have the greatest potential for large bulk tonnage mineral deposits.
Management and the Board of Directors would like to thank all shareholders for their continued support and patience as the Company finally moves towards advancing its core mineral properties which it believes will add significant value to its shareholders.
About Alliance:
The Company's mission is focused on acquiring and delineating highly prospective mineral properties in central Arizona that have the right host rocks that have bulk tonnage potential that may be delineated by using cash flows from selective mining of the high-grade zones, this may generate substantial earnings for the Company to generate dividends for our shareholders while also increasing share valuation by sustainable resource building, while limiting dilution to shareholders.
To learn more about Alliance Mining visit www.alliancemining.com
ON BEHALF OF THE BOARD
"Jan C. Ross"
Mr. Jan C. Ross, President and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
Jan C. Ross, President and CEO
(250) 319-4793
The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act. This includes statements concerning the Company's plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties. In addition, forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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