Blue Earth Resources, Inc. enters into a mining Joint Venture with Texas Wyoming Drilling, Inc.
Aug 18, 2011
OTC Disclosure News Service
Burnsville, MN –
FOR IMMEDIATE RELEASE:
“Blue Earth Resources, Inc. enters into a mining Joint Venture with Texas Wyoming Drilling, Inc.”
Minneapolis, MN, August 18, 2011. Blue Earth Resources, Inc. (OTCBB Pink Sheet Symbol “CUYC”) announced today that it has signed a Joint Venture Agreement with Texas Wyoming Drilling, Inc. (Pink Sheets: TWDL) effective August 12, 2011. Blue Earth Resources, Inc. (CUYC) will be acquiring 50% ownership in all Yellow Jacket mineral rights and reserves currently held by TWDL as well as any future expansion that TWDL may secure on Yellow Jacket claims. The Yellow Jacket claims are located in the Moapa mining section in the State of Nevada and have historically shown through scientific assay testing an extremely high level of valuable precious metals. Pursuant the Joint Venture the companies will be sharing expenses and profits on a 50/50 basis.
CUYC President/CEO Daniel Elling states, “We anticipate an excellent working relationship with TWDL as well as very significant reserves as the process continues towards production. We intend to actively mine those reserves upon completion of the Canadian National Instrument (NI) 43-101 geological report currently underway, together with any other regulatory requirements.” Elling continues, “Our Company and its shareholders look forward to entering today’s precious metals market in a joint financial effort which we hope will benefit each company tremendously.”
TWDL Chairman Navarro expresses similar positive sentiment and says, “Several critical steps are still needed before mining commences on our Yellow Jacket claim, however, working jointly should provide a more defined schedule due to the shared ramp up. We will jointly announce results as they develop.”
Blue Earth Resources, Inc. is the parent company of PetroResources, Inc., which is in the business of purchasing and managing royalties, override royalties and non-operating working interests in producing oil and gas well properties. PetroResources, Inc. currently owns interests in excess of 400 properties strategically and diversely located throughout the United States.
Daniel J. Elling, President/CEO
Blue Earth Resources, Inc.
11972 Portland Avenue
Burnsville, MN 55337
The statements made in this press release contain “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended that are intended to be covered by the safe harbor created by such sections and other applicable laws. Where the Company expresses or implies an expectation or belief as to future events or results, the statements are based on the best judgments of management as of the date of this release, expectations, timing and other significant factors may result in business risks and uncertainties including, without limitation to the Company’s dependence on third party agreements. The general market conditions, economic factors, the availability of outside capital, receipt of revenues and other technical factors may also extend beyond the control of the Company. The Company disclaims any obligation to update information contained in all forward looking statement. While the Company expects that it will obtain a permit from the Bureau of Land Management of the Department of Interior, no guarantee is made that such permit will be issued.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.