John Browne, President of Transoft Technologies Inc (TSTG - OTCBB_Pink_Sheets), is very pleased to announce the acquisition of the Wellington Mining Project, from Produelec S.A., located in Ecuador South America.
The Wellington Mining Project is comprised of a gold alluvial mining plant within the 3 mining concessions containing hard rock deposits and interesting values of gold-silver-copper-zinc. The Project is located to the southwest of Ecuador, 400 km southwest of Quito, and approximately 40 km to the east of Machala.
The Wellington Mining Project covers a total surface area of 1.800 hectares, having an irregular polygonal configuration.
Jaime S. Gomez, President of Produelec S.A., the seller, stated, "The project is still in the exploration phase but a preliminary NI43-101 report, written by an independent Canadian geologist, shows us an inferred resource of 1,225,000 ounces of Gold (Au). This project has tremendous potential which I believe represents only a fractional part of our property, (4,000 acres). I am happy to be part of a prosperous future with Transoft Technologies and look forward to our continued relationship".
Some of the statements contained herein may be forward-looking statements, which involve known and unknown risks and uncertainties. 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.
Contact:
Transoft Technologies, Inc.
Email Contact: johnbrowne@quriresources.net
