SANTO DOMINGO, Dominican Republic, Sept. 27, 2012 (GLOBE NEWSWIRE) -- Santo Mining Corporation (OTCBB:SANP), (the "Company"), is pleased to announce that it has acquired 100% of the Walter gold exploration claim in the gold-rich Maimon district of the Dominican Republic.
This highly promising 200 hectare claim is strategically located less than one mile west from one of the World's largest gold mines, the 25.3-million-ounce Barrick Gold Pueblo Viejo ("Barrick") mine and one mile northeast from the Perilya's Cerro de Maimon ("Perilya") gold mine.
The highly prospective polymetallic claim is situated in the Maimon formation of the Hispaniola Gold-Copper Back-Arc which is host to several polymetallic volcanogenic massive sulphide-type deposits, namely the Cerro de Maimon (4.1 MT @ 2.9% Cu, 1 g/t Au, 35 g/t Ag 1.8% Zn; plus oxide of 664,000 T @ 2.5 g/t Au, 63.8 g/t Ag) and the Loma Pesada deposits (1 MT @ 2.2% Cu; source: GMI press release, 13 Dec 2004).
During the due diligence stage, it was highlighted that the new mineralized trends recently found by Barrick and Perilya mines likely extend onto the Walter claim. According to company president "We are confident the upcoming 2-D exploration campaign will return positive results for gold and other precious and base metals, as is typical for the immediate area".
About Santo Mining Corporation
Santo Mining Corporation is an aggressive junior mineral exploration and development Company, based in the Dominican Republic. The Company is actively pursuing the acquisition and exploring of properties, which are strategically located in the prolific and highly prospective Hispaniola Gold-Copper Back-Arc area in the Dominican Republic. A detailed description of the Company's activities is available at SantoMining.com.
Further information on the Company and its filings can be found at www.sec.gov
The Santo Mining Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=14686
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, such as the Company's plans to acquire a number of highly prospective gold exploration properties, which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Company's properties and the timing of any work program or exploration activities, and any results that may be obtained or the commencement of production.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.