June 28, 2010 - News Release
Mon, 06/28/2010 - 10:54 | by deltoro
DEL TORO SILVER CORP.
400 – 409 Granville Street
Vancouver, BC, V6C 1T2
PRESS RELEASE
FOR IMMEDIATE RELEASE
OTCBB: DTOR
DEL TORO CORPORATE UPDATE
Vancouver, BC – June 28th, 2010 Del Toro Silver Corp. (OTCBB: DTOR, the “Company”) is pleased to announce that it has entered into an amendment to their Option Agreement to earn an 80% interest in the Dos Naciones property, dated July 7th, 2009, with their partner Yale Resources Ltd. (TSX-V: YLL).
Based on the amended terms, the Company has agreed to issue Yale an additional 150,000 shares immediately. As well, the Company will issue Yale 200,000 shares as required on or before the first anniversary date of July 7th, 2010. All shares will be subject to the applicable hold periods required by Securities Regulators.
Pursuant to the terms of the amended option agreement, the Company is required to accrue the required $150,000 of property expenditures into the second year and has agreed to fund a minimum of $400,000 of property expenditures and issue a further 250,000 shares on or before the second anniversary date of July 7th, 2011.
Year 3 funding obligations of $400,000 of property expenditures and the issuance of a further 350,000 shares on or before July 7th, 2012 will not change. If Del Toro completes these obligations then the Company will have earned an additional 30% interest to hold an 80% undivided interest in the Dos Naciones property.
The Company intends to continue their work program at Dos Naciones in July which is planned to include detailed mapping, trenching and sampling at both the Mina Josefina, silver-lead zone and the La Espanola skarn zone with the goal to delineate drill targets. In addition to planning the upcoming work program, the Company is investigating the opportunity of purchasing detailed exploration data, including drill holes and geophysics from the previous owner, Industrias Penoles, Mexico’s largest mining exploration company.
About Del Toro Silver Corp.
Del Toro Silver is a Vancouver based, Nevada Corporation focused on mining exploration of base and precious metal deposits in Mexico. The Company’s Dos Naciones Mexican property is NI 43-101 compliant.
Forward Looking Statements
Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the United States Securities and Exchange Commission (the “SEC”) (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Such risks and uncertainties may include, but are not limited to, the risks and uncertainties set forth in the Company’s filings with the SEC, such as the ability to obtain additional financing, the ability to manage growth, acquisitions of technology, equipment or human resources, the effect of economic and business conditions, the ability to attract and retain skilled personnel and factors outside the control of the Company. These forward-looking statements are made as of the date of this news release, and the Company assumes 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.
For further information, please contact Mark McLeary at 604-678-2531 ext. 226.
On behalf of the Board of directors,
“Mark A. McLeary”
President
Legal Notice
The information provided through this website is intended solely for the general knowledge of visitors to the website and does not constitute an offer or a solicitation of an offer for the purchase or sale of any shares or other securities of Del Toro Silver Corp.
