Reno, Nevada, March 4, 2014 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC)
("Dakota Territory" or the "Company") is pleased to announce that
the Company has successfully closed a transaction with Deadbroke
Mining Company, Inc. to purchase approximately 565.24 mineral acres
in the Northern Black Hills of South Dakota. The acquisition
has increased Dakota Territory's mineral interests in the Homestake
District by nearly 23%, to over 3,057 acres.
As part of the Deadbroke Mining Company Inc. property
acquisition, Dakota Territory purchased an additional 64.39 mineral
acres located immediately southwest and contiguous to the Company's
Paleoplacer Property, including the historic Gustin, Minerva and
Deadbroke Gold Mines. The three mines were the last of a
string of mines that produced ores from fossil gold placers derived
from the Homestake Lode and are located at the point where the
channel disappears under the cover of younger sedimentary and
intrusive rocks approximately one mile north of the Homestake Open
Cut source. Together with the property acquisition that
Dakota Territory previously announced on February 25, 2014, the
Company has now consolidated and extended its paleoplacer land
position to a distance extending approximately 3,100 feet along the
south to north trend of the channel.
Dakota Territory's primary focus is on the resumption of
programs conducted by Homestake Mining Company in the 1980's and
1990's to discover and develop repeats of iron-formation hosted
gold deposits within the structural corridor extending north of the
Homestake Gold Mine. Dakota is also committed to the
strategic acquisition of other mining interests within the District
that Management has determined to have near term production
potential, based on historic information available and their more
than 44 years combined mining and exploration experience in the
Northern Black Hills.
"At this early stage of our corporate development, the
consolidation of property on the Homestake Paleochannel provides
Dakota the immediate opportunity to build shareholder value through
the execution of lower cost, lower risk programs on what we
consider to be a high value target that we already have
foundational experience with." stated Richard Bachman, President
and CEO of Dakota Territory.
About Dakota Territory Resource Corp
Dakota Territory Resource Corp. is a Nevada Corporation with
offices located at Reno, Nevada. Dakota Territory is
committed to creating shareholder value through the acquisition and
responsible exploration and development of high caliber gold
properties in the Black Hills of South Dakota.
In terms of total historic US gold production, the Black Hills
ranks second only to the Carlin District of northeast Nevada, with
the gold production of the Black Hills concentrated in a 100 square
mile area known as the Homestake District. Dakota Territory
maintains 100% ownership of three mineral properties including the
Blind Gold, City Creek and Homestake Paleoplacer Properties, all of
which are located in the heart of the Homestake District and cover
a total of approximately 3,057 acres. The Blind Gold Property is
located approximately 4 miles northwest and on structural trend
with the historic Homestake Gold Mine. Through its 125 year
production history, the Homestake Gold Mine produced approximately
40 million ounces of gold and is the largest iron-formation-hosted
gold deposit in the world
In the 1980's and 1990's Homestake Mining Company undertook a
$70 million exploration program managed by Richard Bachman,
president and chief executive officer of Dakota Territory that was
focused primarily on the search for a repeat of the Homestake Mine.
This program successfully discovered significant new gold
mineralization beyond the confines of the producing mine,
demonstrating repeatability and the potential for additional gold
deposits in the Homestake iron-formation host. This program
also proved the continuous extension of the Homestake
iron-formation to a distance of approximately 4 miles from the
producing mine and under the Blind Gold Property.
Dakota Territory Resource Corp is uniquely positioned to
leverage Management's extensive exploration and mining experience
in the Black Hills of South Dakota with Homestake Mining
Company. For more information on Dakota Territory,
please visit the Company's website at http://DakotaTRC.com/.
Investor Relations
Investor Relations Contact: For more information, please contact
Constellation Asset Advisors, Inc. (775) 771-5808
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission ("SEC")
limits disclosure for U.S. reporting purposes to mineral deposits
that a company can economically and legally extract or produce.
Our property currently does not contain any known proven or
probable ore reserves under SEC reporting standards. Our
reference above to the various formations and mineralization
believed to exist in our property as compared to historical results
and estimates from other property in the district is illustrative
only for comparative purposes and is no indication that similar
results will be obtained with respect to our property. U.S.
investors are urged to consider closely the disclosure in our
latest reports filed with the SEC. You can review and obtain
copies of these filings at http://www.sec.gov/edgar.shtml.
Safe Harbor Statement
This release contains forward-looking statements that are based
upon current expectations or beliefs, as well as a number of
assumptions about future events. Although we believe that the
expectations reflected in the forward-looking statements and the
assumptions upon which they are based are reasonable, we can give
no assurance that such expectations and assumptions will prove to
have been correct. Forward-looking statements are generally
identifiable by the use of words like "may," "will," "should,"
"could," "expect," "anticipate," "estimate," "believe," "intend,"
or "project" or the negative of these words or other variations on
these words or comparable terminology. The reader is cautioned not
to put undue reliance on these forward-looking statements, as these
statements are subject to numerous factors and uncertainties,
including but not limited to: adverse economic conditions,
competition, adverse federal, state and local government
regulation, inadequate capital, inability to carry out research,
development and commercialization plans, loss or retirement of key
executives and other specific risks. To the extent that statements
in this press release are not strictly historical, including
statements as to revenue projections, business strategy, outlook,
objectives, future milestones, plans, intentions, goals, future
financial conditions, events conditioned on stockholder or other
approval, or otherwise as to future events, such statements are
forward-looking, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The forward-looking statements contained in this release are
subject to certain risks and uncertainties that could cause actual
results to differ materially from the statements made. Readers are
advised to review our filings with the Securities and Exchange
Commission that can be accessed over the Internet at the SEC's
website located at http://www.sec.gov.
