Feb. 16, 2010 (Business Wire) -- Copper King Mining (CPRK: Pinksheets) wishes to announce it is nearing completion of substantial upgrades to its flotation mill. Additional cells have been added on both the top floor and lower floor. This is expected to substantially help increase recovery of gold, silver and copper, as well as allow substantial increased tonnage through the mill. Increased production is expected to commence at the completion of all the new mill upgrades. The company intends to put more focus on the gold portion of its ore bodies in deposits owned in several different mining districts to help increase gold bearing mill feed.
Further the company wishes to announce it is working hard to complete the necessary paperwork to obtain Pinksheet compliance.
In addition, the company is in advanced stages of negotiations with lenders for both short and long term financings. Proposals have been received and are currently being reviewed with an eye toward the possibility of selecting one that is flexible ASAP.
The company is installing, pending final permits, its cement copper circuit. This is expected to produce a less pure form of copper than the SX/EW plant but still a very substantial contribution to the daily copper output. The same leach circuit used for the cement copper will be used for the SX/EW plant when it becomes available.
About Copper King
Copper King controls over 59,000 acres of advanced-stage and development-stage mineralized acreage in Western Beaver County, Utah The Company is ramping up production at a 5,000 ton per day capacity flotation mill for processing high-grade ores from its Hidden Treasure copper-gold-silver mine and other controlled properties under its control. Copper King is led by an experienced management team focused on exploration and production using traditional and new technologies.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause our expectations and beliefs about our plans to commence production, our plans to drill or our drilling results to fail to materialize: general world economic conditions; availability of capital; unfavorable geologic conditions; the complexity of exploration and production; prevailing prices for commodities, and general regional economic conditions. Copper King assumes no obligation to update the information contained in this press release.
