USCorp Announces Agreement with Arizona Gold Corp To Finance And Complete Exploration And Development Of 3440 Acre Twin Peaks Project
Initial $ 2,100,000 Funding Completed; Drilling Expected To Commence
Within Several Weeks
USCorp, Inc. (OTC:USCS), and Arizona Gold Corp ('AGC?), a private
British Columbia corporation, today announced an agreement whereby
USMetals, Inc. ('USMetals?, a wholly owned subsidiary of USCorp) and AGC
have agreed to and financed a plan for the completion of exploration of
the 3440 acre 'Twin Peaks project? in Yavapai County, Arizona, USA.
The agreement includes the following:
Subsequent to the completed $ 2,100,000 funding, Arizona Gold Corp
acquired the Twin Peaks project claims from USMetals, Inc. in exchange
for 66.82 % of the issued and outstanding shares of AGC, thereby
making USMetals the majority shareholder of AGC.
USMetals′ Chairman and CEO, Robert Dultz, has been appointed an
Officer and a Director of AGC and will represent USMetals′ interests
and those of USCorp′s shareholders.
AGC principals and investors have already funded an initial $
2,100,000USD for completion of the exploration of the Twin Peaks
project. Subsequent technical reports are expected to be in compliance
with industry standards.
USMetals′ percentage ownership of AGC will not ever fall below 50.1%
of the issued and outstanding shares of AGC.
The project seeks to obtain Canadian compliant reports sufficient to
allow for a listing of AGC′s stock to be listed on the TSX or the
TSXV/V Canadian exchanges within a six month period.
The agreement allows for and anticipates further expansion of the Twin
Peaks project and/or the addition of other properties.
Robert Dultz, Chairman and CEO of USCorp and USMetals, stated: 'We are
elated to announce this significant milestone for our stockholders and
investors. Arizona Gold Corp is very excited about the field and assay
work already being done. The initial contractual funding threshold of
$2,100,000USD has been completed. As a result, the drilling program is
moving forward and is expected to commence by the end of this quarter
(June 30, 2011). The highly qualified and experienced team assembled by
AGC demonstrates a very high level of experience and professionalism. We
have constructed this agreement with AGC in such a way as to preserve
and protect USCorp′s shareholders′ investment in the property while
making it attractive for AGC and its investors. As a direct result of
this initial breakthrough agreement, we expect regular and consistent
updates to the investment community regarding our anticipated success.?
An 8-K filing was made with the SEC detailing the structure of the
agreement. A copy of the 8-K can be viewed here:
http://sec.gov/Archives/edgar/data/873185/000114420411034789/v225429_8k.htm
About USCorp
USCorp has majority interest in two mineral exploration projects in the
United States: the gold and silver Twin Peaks project located in Yavapai
County, Arizona, and the gold Picacho Salton project located in Imperial
County California.
Information about USCorp can be found at the company′s website: http://uscorpnv.com.
SAFE HARBOR ACT DISCLAIMER NOTICE
'SAFE HARBOR? STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995: The statements contained in this release which are not
historical facts are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by forward-looking
statements. These risks and uncertainties include the Company's entry
into new commercial businesses, the risk of obtaining financing,
recruiting and retaining qualified personnel, and other risks described
in the Company's Securities and Exchange Commission filings. The
forward-looking statements in this press release speak only as of the
date hereof, and the Company disclaims any obligation to provide
updates, revisions or amendments to any forward-looking statement to
reflect changes in the Company′s expectations or future events.
USCorp
Robert Dultz, Chairman and CEO
robert@uscorpnv.com
or
Martin
E. Janis & Company, Inc.
Beverly Jedynak, President
312-943-1123
bjedynak@janispr.com
or
Constellation
Asset Advisors, Inc.
Jens Dalsgaard, President
415-524-8500
info@constellationaa.com
