The mining rights acquired cover an area of 12.5 miles along the Rio Jalan River in Central Honduras
WESTLAKE VILLAGE, CA / ACCESSWIRE / December 2, 2021 / Star Alliance International Corp. (OTC PINK:STAL) is pleased to announce that it has today signed a binding letter of intent to acquire a 51% stake in a gold mining project (Rio Jalan Project) in Olancho state in the highlands of Central Honduras. This project that runs along a 12.5 mile stretch of the Rio Jalan River is a peaceful agrarian area with only farmers and ranchers in the nearby five villages.
As a part of the agreement STAL will invest up to US$7.5 million for working capital and the growth of the project.
The environmental licenses have been obtained and exploration is ongoing. The mines are already producing gold and operations will be expanded early next year. Local small mining operations are producing a minimum of 250 to 300 oz of gold per site per month while losing approximately 50% of the recoverable gold particles. Our expanded operations, using modern equipment and our new Genesis program, should result in up to a 98% rate of recoverable gold, leading to significantly higher quantities of gold per site.
Richard Carey, CEO and Chairman of Star Alliance International, commented, "This is yet another step in our expansion plan for our Company. Upon close, STAL will generate significant revenues and of utmost importance the mine will be able to gain all the benefits of our Green, Environmentally Safe Genesis ore extraction process. As an important part of this transaction, we have agreed to continue the distribution of aid to the five local villages with 2% of mining profits per village to be used for expanded school facilities, a medical center, college scholarships and a community center to be used by adults and kids alike. Additional projects, beneficial to the community, may be considered in the future. Giving aid and support to the local community makes this project an exciting venture for me personally."
Richard continued "We expect to close this transaction by January 31, 2022. Keep watching, much more news and updates to come over the next few weeks."
About Star Alliance International Corp.
Star Alliance International Corp. ("the Company", "we", "us") was incorporated in the State of Nevada on April 17, 2014 under the laws of the State of Nevada.
In August 2019, following a change in control, the Company acquired the mining claims, buildings and equipment from Troy Mining Corporation. The Project is located at the base of the "gold mother lode" in one of the three major vein belts where the greatest concentration of minerals settled over the years in California.
Since August 2019, although delayed by Covid 19 and the problems created by the fires in California last year, the Company has worked with the government departments so that a plan of operation of the mine can be submitted and approved.
Our gold estimates have been confirmed by geologists showing significant reserves of gold located in veins within the areas that are covered by our mining leases.
While primarily a gold recovery project, the geologist and assay reports indicate the amount of recoverable silver available in quantity is equal to that of gold which adds significantly to the bottom-lineprofit.
The Company plans to commence mining as soon as is feasibly possible.
Safe Harbor and Informational Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.
The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intend to identify forward-looking statements. Investors are cautioned that any such forward-looking statement is not a guarantee of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's statements and reports filed with the OTC Markets. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.
For more information contact Richard Carey
E Mail: [email protected]
Web Site: staralliancemines.com
Twitter: @staralliancein1
SOURCE: Star Alliance International Corp.