For Immediate Release
September 16, 2008
For
Further Information Contact:
Ken
Pavlich, President and C.E.O
info@ElCapitanPMi.com or (775) 201-0168
http://www.elcapitanpmi.com/
El Capitan Precious Metals, Inc.
Provides Status Update of Gold & Minerals Merger
Reno,
Nevada - El Capitan
Precious Metals, Inc. (OTC/BB:ECPN) announced that management of both
ECPN and Gold and Minerals Company, Inc. (�G&M�) have agreed to restart the
merger process which was put on hold ten weeks ago. At the time,
management of both firms had agreed that available funding would be
preferentially directed towards key metallurgical investigations. In
light of the recent positive metallurgical news announced earlier this month,
along with availability of funding provided by G&M, ECPN has directed its
lawyers to resume their efforts to prepare and file appropriate merger
documents.
The revised
timetable projects filing of a Form S-4 registration statement with the
Securities and Exchange Commission (�SEC�) by the end of October. It
could take several months for the SEC to declare the Form S-4 effective, and
the closing of the merger should occur within 45 days from the effective date.
Assuming that the previous milestones are achieved, the expected merger
closing date would occur in the first quarter of 2009.
Ken Pavlich,
President and C.E.O. of ECPN, stated, �While this merger has taken much longer
than originally anticipated, the delay has had no negative impact on ECPN
shareholders. However, in view of the continued improvements in key
metallurgical information, management is convinced that having a rationalized
ownership structure will facilitate anticipated future financing and / or
partnership discussions.�
About
El Capitan Precious Metals, Inc.El Capitan Precious Metals,
Inc. is a U.S. based mineral exploration company whose primary asset is a 40%
interest in the El Capitan precious metals project, located in Lincoln County,
New Mexico. The Company�s stock trades on the Over-the-Counter Bulletin Board
under the symbol ECPN.
Forward-Looking
StatementsStatements herein which are not historical facts, such
as estimates of the volume and grade of mineral deposits, future production
levels, exploration results and plans, costs, and prices are
"forward-looking statements", involving a number of risks and uncertainties
that could cause actual results to differ materially from those projected,
anticipated, expected or implied. These risks and uncertainties include, but
are not limited to, metals price and production volatility, exploration risks
and results, discrepancies between different types of testing methods, some or
all of which may not be industry standard, political risks, permitting risks,
project development risks and ability to raise financing. To date, we have not
established any precious metal reserves, and our ability to do so is dependent
on the future success of our efforts to demonstrate the economic viability of
all facets of our property. For a more detailed discussion of risks and
other factors that may impact these forward looking statements please refer to
the Risk Factors and other discussion contained in the Company's quarterly and
annual periodic reports on Forms 10-QSB and 10-KSB on file with the SEC. The
Company undertakes no obligation and has no intention of updating
forward-looking statements.
For
further information, please visit the company�s website at http://www.elcapitanpmi.com/ .
El Capitan
Precious Metals, Inc.
1325 Airmotive Way, Suite 276
Reno, Nevada 89502
US
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