Britannia Bolsters Gold Reach With Dubai MOU; Developing & Sourcing Precious Metals in Partnership With UAE Firm
NEW YORK, July 23, 2014 (GLOBE NEWSWIRE) -- Britannia Mining Inc. (OTC Pink: BMIN) ("Britannia" or the "Company"), a UK based mining development Company, announced today that the Company has executed a MOU with a prominent gold investment holding company in the United Arab Emirates ("UAE"), to forge a partnership which will broaden Britannia's ability to fund, mine and trade precious metals.
The MOU establishes a relationship between the Dubai and UK based firms, whereby the parties have commenced an evaluation of several acquisition targets and gold trading opportunities. This has been set with a view to enter into a number of joint venture arrangements along with sales and purchase contracts.
"The UAE company is a thriving group that is constantly seeking new companies to join forces with to mutually expand within the precious metals space," stated Kenneth Roberts, CEO of Britannia Mining. "The tie up with Britannia should prove to be beneficial to both parties."
Britannia comes to the table with its Yukon gold projects in tow and a pipeline of operating acquisition targets as well as physical gold trading opportunities – immediately demonstrating the company's ability to source and grow significant and valuable gold projects. With the Dubai firm already having related parties throughout the UAE, South America, Europe, as well as across the Arabian Gulf, Britannia's reach within Africa and North America provides both parties ample opportunity to expand into new territories.
The multi-billion dollar UAE firm holds an integrated portfolio of gold assets from mining operations through to trading activities.
"For Britannia, a highlight of this relationship is that we will strengthen our position to acquire and develop a number of gold opportunities, with a view to supply an established gold buying network," continued Mr. Roberts. "The UAE group will look to provide resources to develop and purchase gold from prospects supplied by Britannia, which is good news for our pipeline projects including the company's Yukon gold claims. We also have the opportunity to act as the partnership's intermediary in Forward Purchase gold contracts; which speaks directly to our near term income prospects."
Mr. Roberts concluded, "We have worked diligently to further our strategic plan; primarily focused on generating near term revenues along with finalizing a credit line of $30 Million from REM Capital. This MOU, along with the anticipated outcomes, brings us closer to delivering on our strategic plan this third quarter."
About Britannia Mining
Britannia Mining is a natural resources development company that is focused on acquiring high quality mineral, mining and other commodity-based projects. The company is committed to developing revenues by conducting exploration, evaluation and trading activities. The company's mission is to secure commodities by developing immediate and near term product pipelines for iron ore and other natural resources.
Acquisition Focus
The Company is targeting revenue producing assets and is currently in negotiations regarding joint venture, acquisitions and trading mineral stockpiles.
Exploration Focus
The company has been developing a high grade iron ore project in Malawi and is currently renewing the Exclusive Prospecting License (EPL) for iron ore over 650 sq. km at Nthale Blantyre. The company is targeting 100 Million Tons (MT) iron at Nthale Hill (20 sq. km).
Britannia Mining has inherited the legacy projects (Gold claims) of the former Micron Enviro Systems in the Yukon and plans to conduct sampling on this area.
For more information, please visit www.BritanniaMining.com.
Safe Harbor
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may,'' "should,'' "expects,'' "plans,'' "anticipates,'' "believes,'' "estimates,'' "predicts,'' "potential'' or "continue'' or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled "Risk Factors'' in the Company's periodic filings with the United States Securities and Exchange Commission, which can be viewed at http://www.SEC.gov. For all details regarding working interests in all of BMIN's mining prospects or any previous news releases go to OTC Markets website. You should independently investigate and fully understand all risks before making investment decisions.
Contact
Team BMIN
(646) 580-1153
www.britanniamining.com