Discovery Minerals Signs Memorandum of Agreement with Deer Park
Development Corporation to Acquire $9.5 Million in Assets
RENO, Nev., Dec. 19, 2012 /PRNewswire/ -- Discovery Minerals
is pleased to announce it has signed a Memorandum of Agreement to
merge with Deer Park Development Corporation, a Nevada Real Estate
Company with $9.5 million of audited
assets.
Mr. Marty O'Malley, who graduated with a B.A. in Business from
the University of Miami in 1976 will
remain at the helm of Deer Park and guide and conduct the
Company's day-to-day operations. Mr. O'Malley has a vast
network of connections and clients built up over thirty years with
whom he will conduct business in Deer Park's activities.
Deer Park's business plan calls for buying, trading and managing
properties in the cities of Phoenix,
Arizona and Las Vegas, Nevada as its initial focus of
activities. There are no geographic boundaries in their
business plan.
Discovery Minerals will conduct its due diligence and both
parties have established an Effective Date to complete the merger
which will be on January
28th 2013, 5pm
PST.
Discovery Minerals is a U.S.-based metals exploration and
development company focused on projects in the Western United States and California in particular. The Company is
led by an experienced board of directors and management team with
extensive corporate, exploration, mine development and production
operation records in the US and Australia.
About Discovery Minerals Ltd.:
Discovery Minerals Ltd. (Frankfurt WKN: A0LB3X) (Kurzel: D7Z) (OTC
Pinksheets: DSCR) is a production stage company formed to acquire
and develop natural resource properties. Activities include gold,
precious metals and minerals, including rare earth minerals
production and sales. The Company has initiated a new program
to evaluate undervalued assets, including clean tech and
alternative energy investments, for potential addition to its
portfolio.
Safe Harbor: This release includes forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 27E of the Securities Act of 1934. Statements contained in
this release that are not historical facts may be deemed to be
forward-looking statements. Investors are cautioned that
forward-looking statements are inherently uncertain. Actual
performance and results may differ materially from that projected
or suggested herein due to certain risks and uncertainties
including, without limitation, ability to obtain financing and
regulatory and shareholder approval for anticipated actions.
Company Contact Information:
Mr. Henry Manayan, Esq., Chief
Operating Officer
Discovery Minerals, Ltd.
429 West Plumb Lane
Reno, Nevada 89509
Telephone: 1.408.656.0143
SOURCE Discovery Minerals Ltd.