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Mission Mining Company Executes Letter of Intent to Lease, Mine, and Operate the El Dorado Mine in California
Mission Mining Company Executes Letter of Intent to Lease, Mine, and Operate the El Dorado Mine in California.
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[{"type":"text","content":"\n\n\n\n\n\n\n\nMission Mining Company Executes Letter of Intent to Lease, Mine, and Operate the El Dorado Mine in California\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nMission Mining Company Executes Letter of Intent to Lease, Mine, and Operate the El Dorado Mine in California\n\nPR Newswire\n\nLAS VEGAS, May 20, 2013\n\n\n\n\n\n\n\n\n\n\n\n\n \n \n\n\nLAS VEGAS, May 20, 2013 /PRNewswire/ -- Mission Mining Company (OTC Pink: MISM) is pleased to announce that the Company has executed a Letter of Intent with Colten Metals LLC, to execute an agreement for Mission Mining Company to lease, mine, and operate the El Dorado Mine in California. The El Dorado Mine claims are reported to hold extensive values / quantities of gold, platinum group metals, and rare earth metals, and have the potential to become one of the largest and most productive mining properties in North America. Production from the El Dorado Mine is anticipated to generate substantial revenues and profits for the Company on behalf of its shareholders, and ultimately propel the Company into position as a leader in the mining industry. \n\n\nThe El Dorado Mine is comprised of seventeen (17) contiguous Bureau of Land Management lode claims comprising a total of three hundred forty (340) acres located in San Bernardino County, California. The El Dorado Mine claims are known as the El Dorado Lode Claims numbers 1 – 12, and the King of California Lode Claims numbers 1 – 5, collectively referred to by the Company as the El Dorado Mine. The Letter of Intent specifies the term of the mining and operating lease to be forty-nine years, with provisions for Mission Mining Company to be granted an extension of the lease for the duration of the property's productive life. As compensation under the proposed agreement per the terms of the Letter of Intent, Colten Metals LLC, will receive a 9.0% Net Smelter Return Royalty (NSR Royalty) in respect of all salable metals and other products resulting from the Company's operations on the seventeen El Dorado Mine claims as compensa...