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Alliance Mining Corp, is pleased to announce a non-brokered private placement of up to 3,000,000 units at a price of $0.25 per unit in the capital stock for total gross proceeds of up to $750,000. Each unit will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder thereof to purchase one additional share of the Company at a price of $0.30 per share for a period of twenty-four months from the closing date of the private placement. Closing of this placement is conditional upon approval of the CNSX.
Finder's fees of up to 8% and 8% broker warrants may be payable on the Private Placement. Proceeds of the Private Placement will be used for exploration and working capital. The Private Placement will be subject to normal regulatory approvals.
43-101 Technical Report
On June 28, 2011, the Company announced that it completed a National Instrument 43-101 compliant technical report on the Company's Placeritas properties. This is the first comprehensive description of the geology and compilation of available information pertaining to potential gold, silver and copper deposits on the 4,111 acre properties located due south of Prescott, Arizona. This acreage is one of the largest assembled by a junior company in the region and is well situated within one of the most prolific historic gold mining regions.
Highlights of the NI 43-101 compliant report are;
-The property comprises 199 claims in four separate areas covering approximately 4,111 acres north and south of Highway 89 between Prescott and Congress Arizona, in an area with numerous old copper and gold mines and prospects.
-In early 2011, Alliance completed an airborne geophysical survey program over the Copper Hill (Boston Arizona) area adjacent to the past productive Copper Basin area now being rehabilitated by Freeport McMoran. A separate survey was completed over the Silver Crown and Placerita South claims adjacent to the past productive Zonia mine. Both surveys outlined anomalous magnetics and electromagnetic anomalies which need to be examined in more detail.
-There are three general trends within the geophysical data for the Silver Crown Area. The western trend is located along the entire western side of the claim area that borders the neighboring Zonia Mine. The observed mineralization within the western trend would appear to be extensions of the known Zonia Mine VMS zones.
-Additional work recommended includes data compilation, geological mapping , target generation and comprehensive exploration programs on the two key areas, Copper Hill (Placerita West) and Silver Crown (Placerita South). Some of the lower priority properties with gold targets and drill permits in place may be suitable for farming out to other junior companies.
-A budget of $750,000, including contingencies has been proposed in two phases, with diamond drilling contingent on success of the initial general exploration phase.
-In the late 1800s, the Placerita gold mining camp, which includes the area covered by the Placerita Properties, was a small Spanish community and the miners worked placer and gold quartz-oxide veins. There are numerous shallow underground workings dating from this period, including adits, shafts, and remnants of small stamp mills (crushing plants). Significant mining in Arizona began in the 1870s and 1880s. Lode and placer gold mines dominated production until 1900, and after that time most annual gold production was a by-product of large-scale porphyry copper mining.
About Alliance:
Alliance mining has been focused on acquiring and delineating highly prospective Gold and Silver mineral properties in Arizona's most prolific gold producing area - Yavapai County located in central Arizona. Over the past decade the company has built up an extensive inventory of geologically significant properties, most of whom have experienced gold and silver production in the past century. The company plans to take these properties to the next stage of exploration and development using modern techniques unavailable to earlier miners. An extensive exploration program is being planned for these precious metal assets in 2011, along with a strong emphasis on increasing shareholder value and liquidity.
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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