Gold Mining in Honduras
Clavo Rico mine currently producing approximately 130 ounces of gold per month
Message: Razor Resources Inc. Announces Second Shipment of Gold From Clavo Rico Mine
LOS ANGELES, CALIFORNIA--(Marketwire - Jan. 27, 2011) - Razor Resources Inc. (OTCBB:RZOR) www.razorresourcesinc.com ("Razor Resources Inc." or the "Company") a fully reporting and producing junior mining company today announced its second shipment of gold estimated to be over $300,000 in market value since the recent acquisition of the Clavo Rico Mine property in Honduras. Final refining after production resulted in approximately 227 ounces of finished gold and 64 ounces of finished silver.
"This second shipment of gold production and recurring revenue stream is a major milestone for our Company. Through the extraordinary efforts of our exploration and mining team, we have been able to enhance production in less than one year since the acquisition of the Clavo Rico mining property. Having a steady cash flow from production will help protect us from some uncertainties in the current world financial markets and gives us a distinct advantage for growth and shareholder value over non-producing junior mining companies," stated Gregory Rotelli, Chief Financial Officer.
The gold from this shipment has an estimated value of over $300,000 based on today's prices, and the first silver production is estimated to be over $1,750. The Company expects to produce at least 200 ounces of finished gold per month.
About Razor Resources Inc.
Razor Resources Inc. (OTCBB:RZOR) www.razorresourcesinc.com is a Los Angeles, California based gold exploration and production company engaged in gold mining and its associated activities including but not limited to exploration, extraction, processing, and reclamation. The Company specializes in sustainable, low-cost gold production and currently owns and operates the Clavo Rico mine in the Choluteca region of Honduras. Razor Resources Inc. (OTCBB:RZOR) is one of the few junior resource companies to reach 'production status' – and is focused on increasing gold production on an annual basis. The Company currently produces approximately 200 ounces of finished, pure gold per month with room for expansion and necessary infrastructure in place to handle the increase. Additional income is received through production services provided to other mining companies in the region.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Razor Resources Inc. to be materially different from the statements made herein.
For more information, please contact
Razor Resources Inc.
Chief Financial Officer
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