NewswireToday - /newswire/ -
West Jordan, UT, United States, 2014/01/27 - Gold and Silver Mining of Nevada - otc.com (CJTF) - Agreement with Bonanza Mines, Inc. owned by 34 year mining veteran. Acquisition of properties near Goldfield, NV wherein 100% of ownership of the property will be acquired for 32 million shares. PINK SHEETS: CJTF
Gold and Silver Mining of Nevada, Inc. - otc.com (CJTF) - a junior mining company in Nevada has reached agreement with Bonanza Mines, Inc. a Colorado company owned by a 34 year hard rock mining veteran on the acquisition of a series of properties near Goldfield, NV wherein 100% of ownership of the property will be acquired for 32 million shares to be paid as follows:
• Approximately 10.66 million shares with formal contract signing.
• Approximately 10.66 million shares to be issued when the company and its’ 47.5% life time net revenue position on the new properties has earned $11 million from new producction from said total assets being acquired.
• The balance or last 10.68 million will be released when the company has received a total of $61 million (its’ 47.5% net revenue position) earned from all assets being acquired from this company.
This world class property will contain approximately 3,200 acres of claims. Initial permits are expected this year for further evaluation, and production requirements.
Bonanza Mines, Inc. will remain as co-operator with CJT Mining, Inc. a wholly owned subsidiary of Gold and Silver Mining of Nevada, Inc. CJT mining, Inc. will be the asset owner for duration of mine life. Net revenues will be retained by Bonanza and and CJT Mining, Inc. on a 47.5% to each side after costs.
Visit to our website at and OTC Markets (CJTF) news and note the other news releases about production for 2014 as well.
About Gold and Silver Mining of Nevada, Inc.
The company is rapidly becoming a significant junior mine company with near term production ore deposits from several locations in Nevada, Arizona and California and is commencing to close on all new targets and sign up production contracts on each of them.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.