Sunset Cove Files Year End and Q1 Financials and Corporate Update
Toronto, Ontario--(Newsfile Corp. - September 6, 2013) - Sunset Cove (TSXV: SSM) (BVL: SSM) is pleased to announce that it has completed its transition with its new auditor and has filed its annual audited financial statements for the year ending March 31, 2013 and its financial statements for the three-month period ending June 30, 2013 and the respective Management Discussion and Analysis. Having fulfilled its continuous disclosure requirements, the management cease trade order that had been requested by the Corporation has been lifted.
We are also taking this opportunity to report on the activities of Sunset Cove over the past nine months. "We have been focused on running a tight ship at Sunset Cove Mining to maximize the value of the company to its shareholders," said Sunset Cove President & CEO Lorne Woods "One way we have done this is by focusing on what we believe are strategic minerals for which we expect a consistently high demand over the next few years."
The first step in the process started when we optioned the Carolay Silver Property in Peru some years ago. The second step occurred recently when we optioned the Lac Guéret West graphite property to allow us to explore in Quebec, a good mining jurisdiction, in what looks to be a promising exploration camp.
For those of you who may be scratching your heads about the connection, silver and graphite share more than you may think.
The Peru Silver Play
In Peru we expect to be receiving shortly some assay results from underground samples taken last year and focusing our upcoming exploration efforts on the high interest areas where we have seen, through previous exploration and the expected assay results, strong silver and base metals showings.
Some examples which many people don't think about is silver's use in nanotechnology or as a germicidal agent within hospital settings or the fact that every switch in a car contains some silver because of its superior electrical conductivity. In these ways silver is a future technology rock star and so is graphite.
The Canadian Graphite Play
While most of us think of graphite as being the lead in a pencil it is used for much more than that. It is used in forging steel and in brakes, as a lubricant and can be processed into graphene, a one atom thick material that promises to revolutionize modern technology through its inherent properties.
Graphite has been declared a critical material by Europe, the United States and China. One of the things, which make graphite a mineral for the future, is its increasing use in green energy because it is a key element in the manufacture of lithium ion batteries and fuel cells. It is predicted that demand from fuel cells and lithium ion batteries will rapidly grow to equal the present industrial demand for graphite.
At Sunset Cove Mining we have always made the case that the prospects for silver should be evaluated not only from the perspective of its intrinsic value as a precious metal like gold, but as an industrial commodity that helps form the backbone of our computer age and one which has a realm of applications which are just now being developed.
There are a number of Canadian exploration companies in close proximity to our Lac Guéret West property. They have reported very interesting results. One company is Mason Graphite whose property is located directly to the east of ours. In a recent NI 43-101 Mason reported a mineral resource with a pretax NPV of $ 364 million. Given that a mineral resource that is not a mineral reserve does not have any demonstrated economic viability, the results also show the true potential of the area.
The above figure was taken from work on a very small part of their property and is expected to grow with the results from drilling undertaken in 2012 and 2013.
Graphite's gradual ascendency will also be powered by graphene. Graphene is a single layer of incredibly thin graphite one atom thick, and is quite possibly the most conductive, thinnest and strongest material known to man.
Graphene has the potential to become a massive game changer with a large number of diverse applications including smartphones, high-speed broadband, drug delivery, nanotechnology and computer chips.
Another advantage in our favour with graphite is that the market tends to value graphite properties a little differently than it values other mineral properties. In general the market treats graphite companies as they would treat normal mining companies in normal times. This means that share values rise when positive exploration/drilling results come in.
Over the past ten months as the investment climate became colder and colder, we at Sunset Cove thought about how we could provide the company with a strong stable future and came to the conclusion that the best way to do so was to combine the old and the new, silver and graphite. Accordingly we have positioned Sunset Cove for a rich future by optioning Lac Guéret to build a strong future.
About Sunset Cove - Sunset Cove Mining Inc. is a dynamic Canadian junior mineral exploration and development company dedicated to driving shareholder value through the economical acquisition, exploration and development of strategic metals properties in Canada and Latin American locations to the point where they become attractive joint venture or acquisition targets. Sunset currently has two properties in its portfolio, a graphite property in Quebec and the Carolay Silver property in Peru.
Quality Assurance - Quality Control
The Carolay property exploration program is under the supervision of Mr. Michael Dufresne, M.Sc., P.Geo. of APEX Geoscience Ltd. an independent consultant and Qualified Person as designated by National Instrument 43-101 who has reviewed the technical content of this release. Mr. Bratzon Salvador, Operations manager, supervises exploration at Sunset Cove's projects. All technical information for the company's projects is obtained and reported under a formal quality assurance and quality control (QA/QC) program.
Some of the statements contained herein may be forward-looking statements that involve known and unknown risks and uncertainties. Results presented in this press release are exploratory in nature. Historical data, if mentioned, should not be relied upon, as they are not admissible under NI 43-101 rules and the Company has not conducted sufficient testing to verify this type of information. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability, and the uncertainty of access to additional capital. Sunset Cove disclaims any obligation to update any such forward-looking statements.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
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