Irving, TX -- (SBWIRE) -- 10/17/2014 -- Gold and Gemstone Mining Inc. (OTCQB:GGSM) engage in the acquisition, exploration-production, and development of gold and other minerals properties in Mexico announce today an update on matters relating to Mexican Government funding, with organizations like the secretary of economic development (SEDECO), the council for economic development in Sinaloa (CODESIN) and mining promotion Trust (FIFOMI) where SEDECO and CODESIN have the function of promoting the state's economy by supporting businesses with tax incentives, financing, business consulting and support efforts of government procedures in order to influence public policy and where we come to talks where it has made us aware of the support of these agencies to keep a safe and proper process in managing the company, bringing greater security for our operations; In addition, The Mining Development Trust is the lead agency that provides financing for mining projects in Mexico, with funding programs ranging from $ 150,000 to $ 25,000,000 USD, we are in talks with FIFOMI where we have been offered funding for the projects of the company, where we can meet all the requirements that the agency requested, supported with the drive and commitment of CODESIN and SEDECO.
Ivan Mondragon, Vice President and General Manager, commented Gold and Gemstone Mining is a company focused on the acquisition, exploration and potential development of prospective gold and silver properties in North and South America. Our strategy is to build a pipeline of gold and silver projects to explore and develop, or enter into joint-ventures. We target projects in historic mining districts with what are believed to have potential for large-scale exploration or relative short to medium-term production.
The Company’s accredited senior management has deep-rooted relations within the mining industry of Mexico. GGSM wishes to develop a strong asset base that will provide an opportunity for continued expansion into the surrounding neighbors of Mexico as well as internationally.
GGSM has adopted a lean and agile management strategy by leveraging partnerships and joint ventures with proven mining companies and geologists, the ultimate objective always being rapid and successful production. The company near term focus is on the full funding, development and production of its first 3 mining concessions.
The Directors of GGSM are acutely focused on the local communities philanthropically in which their mining operations will be developed, in doing so helping to ensure a long lasting and mutually beneficial relationship for years to come.
The company, in an equally owned Joint Venture with local landowners shares the rights to mine 3 concessions. These concessions are situated within the Kono District, Sierra Leone’s prominent alluvial mining region for gold and diamond projects. These rights are conditional upon on the successful funding of the Joint Venture by GGSM within 12 months of the concessions transfer to the Joint Venture.
The company is in the process of adding more companies and concessions to its current mining portfolio, again within a particular focus on alluvial mining projects for precious metals and gemstones.
GGSM will continue toward its goal of full funding for its JV partners and progress into the production phase of the company’s development while, in addition, continuing to utilize its worldwide network of business partners to identify the next series of projects with which to focus and develop.
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
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