SCOTTSDALE, AZ, May 2 /PRNewswire/ - By way of an update Hondo Minerals
Corporation (OTC:BB: HMNC), is pleased to announce that the company is
on track to commence initial production of its existing reserves at
Tennessee Mine by May 30th 2011.
Hondo Minerals Corporation owns the Tennessee and Schuylkill Mines in
Chloride, Arizona, which includes include one million tons of mineral
rich tailings on the property's surface. In total, Hondo Minerals
Corporation owns 950 acres of patented and BLM claims in Arizona and
540 acres of Mineral Rights in Colorado, as well as smaller mineral
holdings in Utah and Nevada.
"After years of planning and hard work I am elated to be in a position
of transitioning Hondo from pre-revenue to a revenue producing mining
company" says William R. Miertschin, Chairman and CEO of Hondo
Minerals.
Hondo's initial independent testing has indicated the Tennessee Mine
tailings and dumps could produce an average of 1 oz. to 3 oz. of gold
and about 30 oz. or more of silver per ton using our exclusive
environmentally friendly technology. At the Tennessee Mine there are
approximately a million tons of metal rich tailings and dump material.
Miertschin says, "Processing the million ton of metal rich tailings is
only the beginning for Hondo. The Tennessee Mine was the largest
producer of silver in Arizona mining history and produced substantial
amounts of Gold. Historical reports claim that as much as 40% of the
original mineralization remains intact underground and offers long term
opportunities for continued exploration."
About The Company
Hondo Minerals Corporation is engaged in the acquisition of mines,
mining claims and mining real estate in the United States, Canada and
Mexico with mineral reserves consisting of precious metals or
non-ferrous metals.
Hondo owns the Tennessee and Schuylkill Mines in Chloride, Arizona. The
Tennessee Mine was at one time the largest producing silver mine in
Arizona. The Tennessee Mine operated from the late 1800's until 1947
producing lead, zinc, gold and silver. The Tennessee Mine includes
approximately 1,000,000-tons of tailings pile and dumps which the
company plans to begin processing. The Company also owns numerous other
mining claims in the US Southwest, which are being evaluated for
additional reserves.
This press release contains forward-looking statements that involve
risks and uncertainties, including the Company's beliefs about its
business prospects and future results of operations. Some factors that
could cause actual results to differ materially include economic and
operational risks, changes in anticipated earnings, continuation of
current contracts, and other factors detailed in the Company's filings
with the Securities and Exchange Commission, including its most recent
Forms 10-KSB and 10-QSB. The Company forecasts provided above are
dynamic and therefore refer only to this release date. The Company does
not undertake to update any forecasts that it may make available to the
investing public.
SOURCE Hondo Minerals Corporation