Exit Only, Inc. (EXTO: OTC Link) | Bayport Subsidiary Announces Completion of Notice with US Department of the Interior, Bureau of Land Management to Begin Mining WOW Claim, Juab County Utah

Bayport Subsidiary Announces Completion of Notice with US Department of the Interior, Bureau of Land Management to Begin Mining WOW Claim, Juab County Utah

Sep 20, 2012

OTC Disclosure News Service

Las Vegas, NV –

Bayport Subsidiary Announces Completion of Notice with US Department of the Interior, Bureau of Land Management to Begin Mining WOW Claim, Juab County Utah

Bayport International Holdings, Inc. (PINKSHEETS: EXTO) is pleased to announce that its wholly-owned subsidiary Cosmic American Rare Earth (CARE), Inc. has received notification from the US Department of Interior, Bureau of Land Management (BLM) that its file number S/023/0110 is complete and contains all information required by BLM surface management regulations at 43 CFR 3809.5.

The Notice proposes excavation of up to six trenches no more than 14 feet in diameter, no more than 100 feet in length individually, and up to 5 feet deep, and a series of small 2-foot deep auger holes in an ephemeral stream channel, using up to 1700 feet of cross country travel.  The project is located at T. 14 S., R. 02 W., sections 05, 06, and 08.  The proposed operation was reviewed by various resource specialists who have determined the operation, as proposed, will not cause unnecessary or undue degradation as defined under 43 CFR 3809.5.

The Utah Division of Oil, Gas and Mining is the governing body responsible for regulating the exploration and development of coal, oil and gas, and other minerals in a manner which encourages responsible reclamation and development. This division is under the State of Utah Department of Natural Resources within the United States Department of the Interior Bureau of land Management (BLM).

The company filed with the BLM the required Plan of Operations, Reclamation Plan, Interim Management Plan, Monitoring Plan, and Finance Assurance Plan. No Environment Analysis was required, but Environmental Performance Standards were addressed within their Plan of Operations addressing how they would conquer all air, water, and discharge of pollutants into ground water issues to include resolving any other environmental issues. The WOW claims are located near the primary support city of Nephi in Juab County, Utah.

BLM has calculated a reclamation cost estimate and consulted with Utah Division of Oil, Gas and Mining (UDOGM) on the financial guarantee.  BLM has determined that the amount of $7,900.00 is sufficient to meet all anticipated reclamation requirements on lands administeredby the BLM.  The amount of the reclamation cost estimate was based on the operator (CARE) complying with all applicable operating and reclamation requirements.

BLM’s decision concerning the amount of the required financial guarantee, the determination that this Notice filing is complete, and the determination that the operations, as proposed, will not cause unnecessary or undue degradation does not relieve CARE, the operator, of any responsibility to be in compliance with all applicable Federal, State, and local laws and regulations and to obtain all applicable Federal, State, and local authorizations and permits.  CARE is responsible for preventing any unnecessary or undue degradation of public lands and resources and for reclaiming all lands disturbed by our operations.

 

A financial guarantee in the amount of $7,900.00 must be filed with the UDOGM and accepted by the BLM Utah State Office, PO Box 45155, Salt Lake City, Utah 84145-0155. Once accepted, CARE must receive written notification from the BLM Utah State Office acknowledging and obligating your financial guarantee before they may begin any surface disturbing operations.

This decision does not constitute certification of ownership to any entity named in the Notice, recognition of the validity of any associated mining claims, or recognition of the economic feasibility of the proposed operations.

This Notice will remain in effect for 2 years from the date of this decision, unless CARE notifies the BLM beforehand that operations have ceased and reclamation is complete.  Should CARE wish to conduct operations for another 2 years after the expiration date of this Notice, CARE must notify the BLM in writing on or before the expiration date as required by 43 CFR 3809.333.

Bayport International Holdings CEO James Porter said “with initial testing completed, final testing of the sites scheduled to begin Friday and now that we have final approval from the governing agencies, Just Try to Stop Us Now!” 

 

About Bayport International Holdings, Inc.

Bayport International Holdings, Inc. is a company formed to exploit the various precious minerals in the U.S. to acquaint the public with practical investment opportunities in strategic metals and minerals. Bayport International Holdings, Inc. is primarily focused on precious metals, rare earth, and oil and gas ventures. Bayport International Holdings, Inc. is developing mining and oil and gas properties with economic potential with the aim of bringing such properties to commercial production. The company’s portfolio of properties is primarily located in the prolific western USA in Utah and Texas.

www.BayportInternational.com

Cautionary Note Regarding Forward-Looking Statements

This press release and the statements of representatives of Bayport International Holdings, Inc. (the “Company”) related thereto contain, or may contain, among other things, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are “forward-looking statements,” including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as “guidance,” “projects,” “may,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “ultimately” or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results (including, without limitation, Bayport’s ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

Investor Relations Contact:

Briggs Smith
813-438-5225
info@olibrigroup.com

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.

Article source: http://www.otcmarkets.com/stock/EXTO/news?id=52756

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