Silver Scott Announces Letter of Intent to Acquire Mexican Assets
October 5, 2010
HILTON HEAD, SC – October 4, 2010 – Silver Scott Mines, Inc. (Pink Sheets: SILS) is pleased to announce the Company has signed a Letter of Intent to acquire all of the outstanding shares of Minera Mystery S.A. de C.V.
Minera Mystery controls multiple gold hosting mineral concessions in the Sonora and Chihuahua states of Mexico. The projects include the Carmen, Purisima, Venturina, Minitas and others.
Each of the projects has a high potential for relatively early production of gold and silver from heap leaching operations. The business strategy of Minera Mystery has been to acquire existing smaller size precious metal deposits, generally with less than 100,000 ounces of gold equivalent resources which are amenable to rapid, low cost heap leaching operations with low capex requirements and that have significant upside exploration potential to expand the existing resources.
Following successful start-up of production from these projects, the strategy of the Company will be to continue to search for other attractive gold and silver projects in Mexico and the Western United States which are amenable to open pit heap leaching.
Minera Mystery is staffed by an experienced team of geologists, geophysicists, engineers, and operators with many years of collective experience in the mineral industry including Mel Herdrick, Dave Herdrick, Robert Toporowski, John Reynolds, and Sean Herdrick.
