Constitution Mining Corp. Changes Name to GoldSands Development Company
Lima, Peru - March 31, 2011 GoldSands Development (GSDC.OB) announces that the Company's name has been changed from Constitution Mining Corp. (Old Symbol: CMIN.OB) to GoldSands Development Company. Effective tomorrow the company's new trading symbol on the OTCBB is (GSDC.OB) and GoldSands Development Company new website is located at www.goldsandsdevco.com .
With the new name, the company wants to express an expansion of its focus to assist with the development of the entire region where the company is working in Peru. Our company is working towards building trust and sustaining relationships that go well beyond mining operations. In addition, our support of local organizations helps to improve the area's quality of life. This win-win approach to the development of the area provides a platform for continual dialogue to identify and address any project with a high business potential in relation with our gold exploration efforts. We accept responsibility, act in a trustworthy fashion, and focus on building long-term relationships for development of the region of Manseriche and Loreto in the best interests, not only of Peru, but for our investors and shareholders as well.
Michael Stocker, Constitution Mining's CEO states:
"Constitution Mining Corp's new name, GoldSands Development Company, more closely aligns with the efforts which we are making in regard to what we hope will be the commercialization of our Peruvian GoldSands Properties. It symbolizes our desire to be positioned for the long haul, as we seek to participate in the multidimensional possibilities which we feel this area has for future development."
"Management believes that this name change more accurately and fully identifies the thrust and scope of our evolving business model. It takes place alongside the implementation, as announced in a recent News Release, of our much-anticipated GoldSands properties test production project."
About GoldSands Development Company (GSDC.OB)
The Company's goal is to fully develop our Peruvian GoldSands project and to locate large-scale commercially viable gold deposits. The Company is interested primarily in geographical areas that are home to several significant proven gold deposits, including highly prospective districts likely to hold further large deposits.
Peruvian GoldSands Project
The Company's GoldSands project in Peru consists of options on 461 square kilometers (178 square miles) of mining property, the largest such block in the district. These GoldSands were laid down by eons of alluvial erosion. For millions of years, the waters of the Santiago and the Mara��n rivers have been carving their way through the gold-rich mountain canyons of the Andes, carrying off vast amounts of gold and depositing it in the loose gravels and sands - GoldSands - in the area the Company now controls.
Results from test holes drilled during GSDC's 26-hole Phase I exploratory drill program indicate the presence of significant alluvial gold. The Company has also completed its Phase II drill program focused on grid drilling a 2.5 square kilometer region. While the results from both the Phase I drill program and the Phase II, 100-hole drill program are highly favorable, the Company cautions that these results do not yet indicate the presence of a commercially viable mineral deposit and further exploration is needed to determine the full feasibility of the project. Currently, the company has signed an agreement to begin a test mining production program within the 2.5 square kilometer area of the recent 100-hole drill program.
The full implementation of these programs will require the Company to secure additional financing.
Further information about GoldSands Development Company may be found at:
http://www.goldsandsdevco.com
On behalf of the Board:
Dr. Michael Stocker - CEO
GoldSands Development Company (GSDC.OB)
Investor Inquiries:
North America Toll Free: 800-215-0811
Direct Dial: 360-339-7309
Email: info@goldsandsdevco.com
Disclaimer
This release contains forward-looking statements that are based on beliefs of GoldSands Development Company management and reflect GoldSands Development Company's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words , or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of GoldSands Development Company with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance , or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, GoldSands Development Company and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. |