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Keywords :   Precious Metals |

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SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTCBB: ECPN - News) reports: El Capitan has agreed to advance the proposed venture with Planet Resource Recovery, Inc. (PRRY.PK) and move to Phase II as delineated in the executed Memorandum of Understanding announced on June 29, 2009. Both companies have agreed to engage and commence discussions to establish a definitive joint-venture agreement.

Phase II is pursuant to the favorable completion of Phase I, which called for Planet to utilize its existing technologies, run multiple assays of El Capitan head ore samples provided to determine quantities of target metal species, and develop new technologies for the deployment in the El Capitan mine specific to target metal species identified.

The assays resulted in values assessed at .355 oz/ton of gold equivalent. The top three target metals showed values of 0.088 Gold, 0.616 Silver and 0.128 Platinum.

Phase II of the proposed venture calls for Planet and El Capitan to address the issues of larger equipment and an acceptable site to begin treating agreed upon tonnage from the 200 tons of gravity concentrate located on the El Capitan site. Metals extracted from the 200 tons will be a joint sale, benefiting both parties. Additional samples of El Capitan’s gravity concentrate ore have been shipped to Planet for immediate evaluation.

About El Capitan Precious Metals, Inc.

El Capitan Precious Metals, Inc. is an exploration stage company that owns a 40% interest in the El Capitan property located near Capitan, N.M., as well as a joint venture and 20% ownership of 13 mining claims and other assets known as the C.O.D. mine located near Kingman, Ariz.

The statements included in this press release concerning predictions of economic performance and management’s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the results of metallurgical testing, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and the possibility that future exploration, development or mining results will not be consistent with past results and/or the Company’s expectations, discrepancies between different types of testing methods, some or all of which may not be industry standard, the ability to mine precious and other minerals on a cost effective basis, the Company’s ability to successfully complete contracts for the sale of its iron ore and other products; fluctuations in world market prices for the Company’s products; the Company’s ability to obtain or maintain regulatory approvals; the Company’s ability to obtain financing for the commencement of mining activities on satisfactory terms; the Company’s ability to obtain necessary financing; the Company’s ability to enter into and meet all the conditions to close contracts to sell its mining properties that it chooses to list for sale, and other risks and uncertainties described in the Company’s filings from time to time with the Securities and Exchange Commission. The Company disclaims any obligation to update its forward-looking statements.

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El Capitan Precious Metals Inc.

EXPLORATION STAGE
CODE : ECPN.OB
ISIN : US2828121069
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Annual reports of El Capitan Precious Metals Inc.
Files SEC form 10-K, Annual Report
Annual report 2007
Project news of El Capitan Precious Metals Inc.
2/29/2008Metallurgical and Permitting Update
Corporate news of El Capitan Precious Metals Inc.
8/8/2011Submits Results to Investment Banker
4/6/2011ECPN HAS DIRECT SMELT DORE BAR REFINED BY GANNON & SCOTT
3/22/2011ECPN TAKES ACTION AGAINST INDIVIDUAL IMPERSONATNG COMPANY C...
3/17/2011ECPN Shareholder letter
1/26/2011Completion of Acquisition or Disposition of Assets, Financia...
1/19/2011Completes Merger with Gold and Minerals CO
11/6/2010Shareholder Letter
4/17/2010Moves to Advance a Proposed Joint Venture with Planet Resour...
6/8/2009Discusses Strategy and Objectives
12/10/2008Reports Additional Commercial Lab Results
9/16/2008 Provides Status Update of G&M Merger
9/3/2008Reports Positive Commercial Laboratory Results
8/6/2008Reports Concentrate Samples Shipped to Commercial Lab
7/23/2008 Reports on Gold & MInerals Merger Status
7/14/2008Drilling Permit Status Update
7/8/2008 Metallurgical Update
5/23/2008Lincoln County Commission Resolution
5/20/2008 Metallurgical R&D Update
4/3/2008Exploration Permit Support Opportunity
2/20/2008 Merger Agreement 8K
2/14/200810-Q Filing
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OTC BB (ECPN.OB)
0.160+0.00%
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US$ 0.160
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