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HOUSTON--(BUSINESS WIRE)--Rock Energy Resources, Inc. (RCKE.PK) announced today that gold milling
operations at the Red Arrow mine located in Mancos, Colorado commenced
today, meaningfully in advance of expectations of an April 2012 start
up. Through its 100% owned subsidiary, American Patriot Gold, RCKE
currently owns a 49% interest in the Red Arrow mine.
“We are looking forward
to our initiating 43-101 core drilling on the entire property to fully
determine recoverable reserves on our claims.”
An early start to milling operations was accomplished by the
installation of a smaller mill, capable of running approximately 3-5
tons per day (up to 1,250 tons per year) of ore. As noted in prior
releases, RCKE anticipates a yield averaging 1 ounce per ton of gold
milled, and possible, but as yet unquantified, reserves of platinum and
silver as well.
Plans continue on track for the start up of a larger mill capable of up
to 200 tons per day (up to 50,000 tons per year) mill in April 2012.
This larger mill is the first of three such mills scheduled for
installation over the next eighteen months.
Commenting on the early commencement of milling operations, Rocky Emery,
Chairman and CEO of Rock Energy, stated, ???I am very pleased that we were
able to arrange for early commencement of milling operations and cash
flow to our group. Even this very limited milling operation should
generate approximately $1.8 million+ of operating cash flow to our group
that we had not heretofore budgeted for. We fully anticipate that our
goal of kicking off our first large scale mill will be completed in
advance of expectations.??? Mr. Emery continued, ???We are looking forward
to our initiating 43-101 core drilling on the entire property to fully
determine recoverable reserves on our claims.???
Cautionary Statements
CAUTIONARY STATEMENT REGARDING FUTURE RESULTS AND FORWARD-LOOKING
STATEMENTS: This Web site and press release contains information.
including statements as to the Company???s future financial or operating
performance, that constitute "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, which
statements are intended to be covered by the safe harbor created by such
sections and other applicable laws. All statements, other than
statements of historical fact, are forward-looking statements. The words
"believe", "expect", "anticipate", "contemplate", "target", "plan",
"intends", "continue", "budget", "estimate", "may", "will", "schedule"
and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by the
Company, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. Known and unknown factors
could cause actual results to differ materially from those projected in
the forward-looking statements. Such forward-looking statements include,
without limitation: (i) estimates of future mineral production, results
and sales; (ii) estimates of future costs applicable to sales, other
expenses and taxes, for specific operations and on a consolidated basis;
(iii) estimates of future capital expenditures, construction, production
or closure activities; (iv) statements regarding future exploration
potential, asset potential, potential resource expansion and targeted
production; (v) estimates and expectations regarding reserves,
nonreserve mineralization and potential ounces; (vi) statements
regarding fluctuations in capital and currency markets; (vii) statements
regarding potential cost savings, productivity, operating performance,
and cost structure; (viii) expectations regarding the development,
growth, mine life, production and costs applicable to sales and
exploration potential of the Company's projects; and (ix) expectations
regarding the impacts of operating technical or geotechnical issues in
connection with the Company's projects or operations. Estimates or
expectations of future events or results are based upon certain
assumptions, which may prove to be incorrect. Such assumptions, include,
but are not limited to: (i) there being no significant change to current
geotechnical, metallurgical, hydrological and other physical conditions;
(ii) permitting, development, operations and expansion of the Company's
projects being consistent with current expectations and mine plans;
(iii) certain price assumptions for gold, copper and oil; (iv) certain
effective tax rate assumptions (v) prices for key supplies being
approximately consistent with current levels; and (vi) the accuracy of
our current mineral reserve and mineral resource estimates. Where the
Company expresses or implies an expectation or belief as to future
events or results, such expectation or belief is expressed in good faith
and believed to have a reasonable basis. However, forward-looking
statements are subject to risks, uncertainties and other factors, which
could cause actual results to differ materially from future results
expressed, projected or implied by such forward-looking statements. Such
risks include, but are not limited to, gold and other metals price
volatility, currency fluctuations, increased production costs and
variances in ore grade or recovery rates from those assumed in mining
plans, political and operational risks in the jurisdiction in which we
operate, changes in governmental regulation, including taxation,
environmental, permitting and other regulations, and judicial outcomes
The Company does not undertake any obligation to release publicly
revisions to any "forward-looking statement," to reflect events or
circumstances after the date of publication, or to reflect the
occurrence of unanticipated events, except as may be required under
applicable securities laws.