American Manganese Purchases Manganese Properties
17 May 2011 - 3:09AM
Marketwired
Mr. Larry Reaugh, President and Chief Executive Officer of American
Manganese Inc. ("American Manganese" or the "Company"), (TSX
VENTURE: AMY)(PINK SHEETS: AMYZF), is pleased to report the Company
has entered into a purchase agreement with Elemental Solutions, LLC
as to 50% and Lodestar Management Group, LLC as to 50% to purchase
a 100% interest (subject to a 2% NSR) in the SoCal Manganese
unpatented load mining claims. The purchase price is $20,000 and
200,000 shares of American Manganese. The claim groups are TA#
1-11, Langton #1-8, 10, 40 and 41, and Black Jack #1-12.
The TA #1-11 are located in Imperial County, California 42 miles
south of Blyth and the Langton 1-10, 40, 41 and Blackjack 1-12 are
located in Riverside County, California 20 miles north of
Blyth.
Past production in 1917-18 was 3500 tons grading 42% manganese
from the area now covered by the TA# 1-11 and 22,000 tons grading
43% manganese from 1952-59. The area was also mined from 1941-44
but there is no record of production (Mesozoic-Cenozoic Tectonic
Evolution of the Colorado River Region/April 1982).
In the Midway Mountains, Imperial County, deposits of manganese
oxides are localized along the detachment fault as well as along
normal faults within the upper plate. Psilomelane, pyrolusite, and
manganite are the most common manganese minerals present.
Larry Reaugh, President and Chief Executive Officer says; "This
acquisition of the SoCal Manganese prospect increases the Company's
exposure to manganese projects in the United States. The Company's
focus remains on the Artillery Peak Manganese project in
Arizona.
The above transaction is subject to the approval of the
regulatory authorities.
About American Manganese Inc:
American Manganese Inc. is a diversified specialty and critical
metal Company focusing on potentially becoming the lowest cost
producer of electrolytic manganese from its Arizona Manganese
Project.
This release has been reviewed by Norman L. Tribe, P.Eng, a
qualified person pursuant to National Instrument 43-101.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh, President and Chief Executive Officer
This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical fact, included herein are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the
Company's documents filed from time to time with the TSX-Venture
Exchange, the British Columbia Securities Commission and the US
Securities and Exchange Commission.
The TSX-Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: American Manganese Inc. Larry W. Reaugh President and
Chief Executive Officer 604-531-9639 604-531-9634 (FAX)
www.americanmanganeseinc.com
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