SANTO DOMINGO, Dominican Republic, Oct. 8, 2012 (GLOBE NEWSWIRE) -- Santo Mining Corporation (OTCBB:SANP), (the "Company"), is pleased to announce that it has acquired 100% of Gexplo SRL's rights to the Shalee gold exploration claim in the Dominican Republic.
This highly prospective 42.75 square kilometer claim is within the famed Hispaniola Gold-Copper Back-Arc, and surrounded on all quadrants by numerous historical mine works and new gold discoveries. The most famous among them is the world-class Barrick Gold Pueblo Viejo gold mine, located to the southeast with 25.3 million ounces of gold and 147 million ounces of silver. Other significant mining concerns in the vicinity include Perilya Gold's Cerro de Maimón gold mine, also to the southeast; Falcondo Xstrata's massive nickel complex to the east; and Goldquest to the south.
Santo Mining President Alain French has spent several months exploring in the adjacent area and has previously discovered several gold, silver and copper showings. "As with our other acquisitions, Shalee represents excellent potential for exploration," said French. "I am confident the exploration team may identify gold, other precious metal and base metal deposits in this mineral-rich territory."
About Santo Mining Corporation
Santo Mining Corporation is an aggressive junior minerals exploration and development company, based in the Dominican Republic. The Company is actively acquiring and exploring its 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 www.SantoMining.com.
The Santo Mining Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=14686
Further information on the Company and its filings can be found at www.sec.gov
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 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 that such 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.