Mining Stocks; Goldlake to Maintain Options Under Funding Agreement with Soltera Mining Corp. (OTC:SLTA.PK; FRANKFURT:SN7)
5/25/2011 11:34:19 AM
JUJUY, ARGENTINA - May 25, 2011 (Investorideas.com mining stocks
newswire) - Dr. Fabio Montanari, President and CEO of Soltera Mining
Corp. (OTCPK:SLTA, FRANKFURT: SN7) (www.solteramining.com) is pleased to announce that the Goldlake Group "Goldlake"), through its holding company
Goldlake Italia S.p.A, intends to maintain its options under the terms
of the Goldlake-Soltera Capital Increase Agreement of 9th June 2010
which expires on 30th June 2011.
The Agreement states that Goldlake has the option to invest a total
of US$1,500,000 before 30th June 2011. To date, Goldlake has invested
US$600,000. The remaining US$900,000 will be used to maintain the El
Torno rental/purchase agreement, continue the gold exploration and cover
general operational expenses including SEC filings. In return, Goldlake
will be issued shares at US$0.10 per share and each issued share will
provide Goldlake with warrants to subscribe for two shares at US$0.15
per share. Soltera will appoint two additional Goldlake-nominated
Directors to the Board.
About The Goldlake Group ("Goldlake")
The Goldlake Group is the first Italian organisation to invest in
the mining and exploration sector of Honduras and now Argentina. The
Group is privately owned, with the majority stake held by the founder of
Italy's third largest cement company, Colacem. It has offices in Gubbio
(Italy), London (UK) and at its main operations in Tegucigalpa,
Goldlake's strategy is to mine only environmentally friendly
gold without the use of cyanide or other chemicals. In Honduras, this
involves working alluvial gold using a cyanide-free extraction process
and a zero waste and water management system. In Argentina, El Torno is
particularly attractive because much of the gold appears to be free and
extractable by simple mechanical rather than chemical methods (Ethical
The company has established a supply chain from extraction to final
customer, including analytical laboratories, refining operation and
direct sales to the customer, over which it has complete control.
Furthermore, Goldlake has a track record of developing successful
businesses in emerging markets and has a management team with
significant experience in the mining sector.
For more information, please visit the Goldlake website at www.goldlake.co.uk.
Harbor Statement: Certain statements contained herein are
"forward-looking" statements (as such term is defined in the Private
Securities Reform Act of 1995). Because such statements include risks
and uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Information or
opinions in this document are presented solely for informative purposes
and are not intended nor should be construed as investment advice. We
encourage you to carefully review the Company with your investment
advisor and verify any information that is important to your investment
Soltera Mining Corp.
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