VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 18, 2011) -
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES
Hilltown Resources Inc. ("Hilltown") (CNSX:HLT) and Mineracao Soccoimex ("Soccoimex") have entered into a strategic alliance to maximize the value of Hilltown's future iron ore and manganese resource projects in Brazil. Soccoimex, a Brazilian company with a fifty-eight year history as a successful operator of iron ore mines in Brazil, is ideally qualified as an operating partner for Hilltown's future Brazilian projects.
Soccoimex will assist and work directly with Hilltown to identify, negotiate, acquire, develop and operate iron ore and manganese properties and mining projects for the benefit of Hilltown, including supervising, permitting, construction and operation of future Hilltown iron ore and manganese mines. Soccoimex will also work closely with consultants, government agencies and Hilltown representatives during the development stage of deposits, including facilitating claims, licensing, and mine planning and design during feasibility stages. Soccoimex will be the operator of Hilltown's mining projects, functioning as contract operators, with specific terms to be agreed upon by both parties on a property by property basis.
Rudy de Jonge is now the CEO and CFO of the Company. Kent Ausburn is now the President and Chief Operating Officer.
On behalf of the Board of Hilltown Resources Inc.
Kent Ausburn, Chief Operating Officer, President, director
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.The CNSX has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.