NEW YORK, Dec. 6 /PRNewswire-FirstCall/ - UMining Resources Inc. (PINKSHEETS:
UMNG) announces that Fraser Gold has purchased UMNG Control Block.
After several months of negotiation and following completion of a
rigorous due diligence, UMining management has accepted Fraser Gold's
offer to acquire UMINING's voting control block position. The details
regarding the purchase agreement terms will remain confidential until
all binding conditions have been met.
Both UMINING and FRASER GOLD management deemed in the Company's best
interest to proceed under these bases to accelerate the financing of
the production operation of the Tantolos Mine project.
About Fraser Gold
Founded in June 2009, Fraser Gold is a private Company duly incorporated
under the state of Oregon specializing in the development of small and
medium sizes gold ore bodies. Fraser Gold has built its reputation in
the industry for developing cost effective gold properties for its
shareholders.
About UMining
Looking towards the future, UMining main focus is to obtain mining and
exploration permits and rights, and acquire open pit gold mines from
independent or private entities.
UMNG intends on operating in a socially, environmentally and ethically
responsible manner in order to meet its objectives.
For more information, please visit www.uminingresources.com
Forward-Looking Statements
Please be advised that statements made herein, other than historical
data, constitute forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially from
those stated or implied by such forward-looking statements. The
potential risks and uncertainties include, among others, potential
volatility in the company's stock price, increased competition,
customer acceptance of new products and services offered by the
company, and uncertainty of future revenue and profitability and
fluctuations in its operating results.
SOURCE Umining Resources Inc