Foy-Johnston (OTCPink:FOYJ - News), has announced it has reached an agreement with local land owners, village chief, elders and the Paramount Chief and Cameroon Ministry of Mines to acquire a further 4 concessions in the historic gold producing region of Betare Oya. Surface rents have been paid and concession demarcation and licensing is underway.
The concessions selected are far to the north/east near the Lom River in the Bangbel sector, which is considered to be the major host body for gold. Historical records as stated by village elders indicate that while exploration has occurred in the past in this area, land exploration of exploitation has been limited on our concession. The company is excited about its prospects in the upcoming mining season. Further, Foy Johnston announces that pitting of six 10mx10m sections down to 6 meters commenced yesterday on one of the concessions. Sampling returned an average of .89 ("g/t"), the Company is optimistic with proper equipment production will be potentially quite high.
"Adding these concessions to our portfolio in Cameroon secures a long and productive future for the Company. These concessions are known areas of high concentration of alluvia gold deposits and we excited to be able to secure them," stated Alexander D. Powers president of Foy-Johnston.
About Foy-Johnston Inc.
Foy-Johnston through its wholly owned subsidiary Cameroon Mines is involved in enhancing exploration and mining assets through diligent application of technical and commercial expertise for the benefit of all stakeholders of Foy-Johnston in an efficient and environmentally responsible manner. Cameroon Mines is a mining explorer and producer committed to developing strategic mining exploration and project opportunities in Gold, Precious gems, Rare Earth Metals and Platinum Group Metals. The Company has assembled an experienced group of individuals with broad local and international industry knowledge. Where it will assist to build shareholder value and help fast-track the development of its accumulated assets Cameroon Mines will also secure the participation and support of key strategic partners globally, who can provide tangible benefits towards achieving the Company's goals. The company has already acquired a portfolio of Gold and Diamond exploration tenements in key mineral regions of Cameroon and Central African Republic. Our website is www.cammines.com.
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
SOURCE Foy-Johnston Inc.