VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / May 6th, 2014 / SOUTHERN SUN MINERALS INC. ("SOUTHERN SUN") (TSX.V: SSI.P), announces that it is currently conducting due diligence on a number of business proposals.
Currently, the Company has not concluded an agreement nor has it determined through negotiations, any actual terms or conditions at this time. The Company is aggressively pursuing various opportunities and is continuing to review proposals that meet the Company`s criteria for investment or acquisition in areas of agri-mining, research and development, science and technology, retail products and the legal industrial hemp and medical marijuana business sectors.
Although the Company may not necessarily conclude any new business ventures, it will take the necessary steps to comply with all regulatory and exchange rules in the event it does do so.
On other matters, the Company is considering plans for a summer exploration program on its Galleon project in Alaska. The property is located approximately 96 km (60 miles) due south of Fairbanks, Alaska. The Galleon Project has significant VMS mineralization occurrences that are known at 4 main locations on the property. The Property consists of 36 quarter-section State of Alaska mining claims. Past exploration, including mapping, rock and soil sampling and trenching as well as limited drilling, has been conducted on the Property intermittently since its discovery in 1975 by Resource Associates of Alaska. In 2011, a dipole-dipole complex resistivity induced polarization geophysics was conducted over 3.91 lie-km. Known mineralization on the Property occurs at three prospects; however, this observation must be qualified by stating that much of the Property is virtually unexplored. Mineralization on the Property is characterized by highly anomalous gold, silver, lead and zinc and is interpreted as VMS type. A 2014 exploration program consisting of soil sampling, mapping, the completion of a property-wide geologic map and a possible follow up to the detailed CRIP survey is currently in the planning process.
In view of the above, the company is giving consideration for a financing which would be applied to advance our existing project and for working capital.
On Behalf of the Board of Directors
Chairman & CEO
Southern Sun Minerals Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
SOURCE: Southern Sun Minerals Inc.