WESTLAKE VILLAGE, CA / ACCESSWIRE / May 10, 2022 / Star Alliance International Corp. (OTC Pink: 'STAL') is pleased to announce that it signed a Binding Letter of Intent to acquire a majority interest in NGM USA, a Wyoming Corporation that owns three gold mining sites in Africa. These gold mines are currently in the exploration stage with the indications showing potentially significant reserves. STAL will pay $2,000,000 for the majority stake, that also includes funds to be used for equipment, development of the mines and the start of mining operations at the three properties.
Richard Carey, Chairman of STAL, commented, 'We are actively seeking sites with significant and positive reserves, that can be brought to full production quickly. Our target is to be revenue producing by the third quarter of 2022. We strongly believe, that the current economic climate, provides solid indications that a company such as STAL, with its aggressive programs to acquire gold and rare earth mineral mines at an advantageous price, will benefit STAL and it's shareholders.'
Weverson Correia, CEO of STAL stated, 'Our management team continues to look for good opportunities throughout the world. We believe it is a perfect time for such acquisitions. These three mines have the indications and markers of a highly advantageous purchase for STAL. Keep watching this space for more detailed information and updates.'
About Star Alliance International Corp.
Star Alliance International Corp. ('the Company', or 'STAL') was incorporated in the State of Nevada on April 17, 2014 under the laws of the State of Nevada.
In August 2019, following a change in control, STAL acquired the mining claims, buildings and equipment from Troy Mining Corporation. The Project is located at the base of the 'gold mother lode' in one of the three major vein belts where the greatest concentration of minerals settled, over the years, in California. Now the final for these assets has been made.
Our gold estimates have been confirmed by geologists showing significant reserves of gold located in veins within the areas that are covered by our California mining leases.
STAL plans to commence mining as soon as it is possible.
In December 2021 STAL executed the agreements to acquire 51% of Compania Minera Metalurgica Centro Americana SA (Commsa), a Honduran Corporation. Commsa owns the mining rights to five mines, one approved for mining and 4 approved for exploration. These mines that have significant gold resources run along a 12.5 mile stretch of the Rio Jalan River. We will commence mining operations very shortly and the Company plans to expand operations as soon as possible.
In November, 2021, STAL entered into a binding Letter of Intent to acquire 49% of Lions Works Advertising, SA, a Guatemala Corporation that owns the 'Genesis' ore extraction process. Since signing the Letter of Intent the company has renegotiated and will now acquire a 51% interest. This green, environmentally friendly process, extracts up to 98% of the gold ore from the rock. A single module processes 300 to 350 tons of ore daily. The speed of extraction is up to 400 times faster than a conventional heap leaching process.
The Company plans to market 'Genesis' to mining companies worldwide.
Safe Harbor and Informational Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.
The words 'may', 'would', 'will', 'expect', 'estimate', 'anticipate', 'believe', 'intend', and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statement is not a guarantee of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's statements and reports filed with the OTC Markets. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.
For more information, contact STAL.
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SOURCE: Star Alliance International Corp.
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