End Of Year Summary
16 January 2008 - 11:00PM
PR Newswire (US)
Clifton Mining Company Inc. (OTC : CFTN) ALPINE, UT, Jan. 16
/PRNewswire-FirstCall/ -- End Of Year Summary -------------------
In 2007, Clifton's joint venture partner discovered another
gold-bearing zone. Known mineralization now include the Kiewit gold
mineralization, the Cane Springs gold mineralization, and now the
Rattler Ridge gold mineralization. Clifton has a significant
investment in American Biotech Labs(R), LLC (ABL). ABL is a private
biotech company that produces a silversol, a potent yet benign
anti-pathogenic. ABL's annual sales increased by 25%, to $4 million
in 2007 with ongoing research and patent filings. Clifton received
a cash dispersment from ABL for the 2007 sales year. The Gold
Properties ------------------- The Kiewit property has been
intensively drilled and estimates range between 75,000-250,000
ounces of recoverable gold. The venture is progressing toward a
full feasibility study. Increasing gold prices add significantly
because to minable reserves, as higher values increase cut off
grades. Phase one drilling has been completed at the Cane Springs
mine. An additional gold bearing structure was found and drilled
adjacent to the historic mine. Like the historic mine, high-grade
gold values were found, with some drill sections showing
multi-ounce values of gold. Initial estimates indicate that this
area may contain 100,000-200,000 ounces of gold. Clifton has filed
for a mine permit for the Cane Springs mine, and expects to have
the permit in hand within the next few months. Phase one drilling
on the Rattler Ridge project has been completed. A number of the
completed drill holes penetrated gold mineralization. Phase two
drilling is now being planned for the spring. Other Mining News
----------------- The management of Clifton has filed with the
Department Of Oil, Gas, and Mining for another mine permit to cover
the Clifton silver veins area of the property. Management expects
that permit to be granted within the next few months. American
Biotech Labs --------------------- New products including the new
gel products that came on line in August helped achieve a
significant increase in sales. Management expects that new accounts
in Europe, Asia, Middle East, and Africa will start to purchase
product by mid-2008. ABL completed its new production facility,
including bottling, gel manufacturing, and tubing facilities in
2007. The new facility, increased monthly production capacity to
1.5 million bottles. The new plant has received government approval
to produce product and the plant is currently in operation. The
company expects a number of articles on the Silversol
Technology(TM) to be published in 2008, including one in
conjunction with testing completed by the U.S. Military and another
related to the H5-N1 Bird Flu. Clifton trades on the U.S. OTC:
(CFTN). Note: Any statements released by Clifton Mining Company
that are forward looking are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Editors and investors are cautioned that forward looking statements
invoke risk and uncertainties that may affect the company's
business prospects and performance. DATASOURCE: Clifton Mining
Company CONTACT: Dr. Ken Friedman, President at (303) 642-0659;
Keith Moeller, Vice President at (801) 756-1414 or see the websites
at http://www.cliftonmining.com/ and
http://www.americanbiotechlabs.com/
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