NEW YORK, Oct. 12, 2006 (PRIMEZONE) -- Great West Gold, Inc. (Pink Sheets:GWGO) announced on September 27, 2006 that it had made further acquisitions. The Company confirms the acquisition of the below-mentioned Copper Mining Projects, as follows:
Swansea Copper Mining Limited which owns the "Swansea" Copper Mining Exploration Project.
Tip Top Copper Mining Limited which owns the "Tip Top" Copper Mining Exploration Project.
Mineral Mountain Copper Mining Limited which owns the "Mineral Mountain" Copper Mining Exploration Project.
Stockholders are referred to the Restructuring Announcement dated September 27, 2006. The Company will shortly be announcing plans to merge these three recently acquired Copper Mining Exploration Companies with the other Copper Mining Exploration Interests owned by Great West Gold, Inc., namely; Copper Mountain Mining Holdings plc. These companies will be the subject of a "Reverse Merger" with an OTC Pink Sheet quoted Company, to form Great West Gold, Inc.'s "quoted" Copper Mining Exploration Company distribution. Great West Gold, Inc. is de-merging its Gold interests into two separate quoted Companies in addition to this de-merger of its Copper interests into a third quoted Company.
Great West Gold, Inc. would continue to hold the largest stockholding in the new OTC Pink Sheets quoted Copper Mining Exploration Company after this Reverse Merger. Great West Gold, Inc. would distribute this stockholding to its stockholders at a later stage, as it intends to exit the Mining Sector and acquire a Company in another Industry Sector, within the next three months.
Stockholders will be kept updated as to the detailed explanations in respect of the Corporate Actions announced on September 28, 2006.
About Great West Gold, Inc.
Great West Gold, Inc., www.greatwestgold.com, a gold mining exploration stage company, engaged in the acquisition and exploration of mining properties in the United States. The Company has Gold assets through its holdings in "Bouse", "Mockingbird", "Ambassador", "Yaba", "Golden Eagle", "Bonanza", "Storm Cloud", ""Starlight", "Venezia", "Federal", "Buffalo Lime Cap", "Red Cloud", "Storm King", "South Copperstone" and "Gladstone Lookout" Gold Mining Projects. The Company's Copper assets are "Copper Mountain", "Swansea", "Tip Top" and "Mineral Mountain". The Company holds five of these Mining Assets through its 48% holding in Bouse Mining Holdings plc, Copperstone Mining Holdings plc, Ambassador Gold Holdings plc, Golden Eagle Mining Holdings plc and in Sentinel Resource Holdings plc. The other Mining Exploration companies are 100% controlled by the Company.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.