20 Dec 2012 10:07
Xtierra Reports Land Acquisition at Bilbao
Dublin, 20 December 2012, Minco plc (MIO:AIM), the Irish exploration and development company reports that Xtierra Inc. (TSXV: XAG) in which Minco holds 30 million shares, yesterday reported that it had recently completed the acquisition of the necessary surface lands that will be required for the surface installations and development for its Bilbao zinc-silver-lead-copper deposit located 50km southeast of the State capital in Zacatecas, Mexico.
The surface land requirement totals 277 hectares in three separate parcels acquired from private landowners. The acquisition of surface rights will enable an application to be made in due course for a change in land use permit from agricultural to mining.
All of the component parts of the ongoing feasibility work for the development of the Bilbao Project are nearing completion, including a revised resource estimate, mine design, mining method, metallurgy, capital and operating costs, tailings management, engineering and hydro geology as well as environmental studies.
About Xtierra Inc.
Xtierra Inc. is a Toronto based exploration and development company listed on the TSX Venture Exchange under the symbol "XAG". There are 103,272,142 shares issued and outstanding. The Company is completing a feasibility study on its Bilbao silver-zinc-lead-copper project in Zacatecas, Mexico which is expected to be completed in Q1 2013. Xtierra's objective is to become a mid-tier producer of precious and base metals through the development of its Bilbao project as well as through exploration, organic growth and M & A opportunities.
About Minco
Minco Plc, registered in the Republic of Ireland and listed on the AIM Alternative Investment Market of the London Stock Exchange ("MIO"), is an exploration and development company, currently engaged in zinc-lead exploration in the United Kingdom, Ireland and Canada and with investments in zinc‐silver projects in Mexico through holding 30 million shares (~29%) in Xtierra Inc. listed on the TSX Venture Exchange (TSXV-"XAG"). Minco holds 15.4 million shares (~10%) in Buchans Minerals Corporation also listed on the TSXV ("BMC"). Minco also holds a 2% NSR royalty on the Curraghinalt gold property in Northern Ireland which is being explored by Dalradian Resources Inc. (TSX-"DNA").
For further information, www.minco.ie or contact:
John Kearney: Executive Chairman +1 416 362 6686
Terence McKillen: Chief Executive +1 416 362 8243
Danesh Varma: CFO & Company Secretary +44 (0) 8452 606 034
Peter McParland: Director - Ireland +353 (0)46 907-3709
John Frain/Fergal Meegan: (NOMAD) Davy +353 (0)1 6796363
Chris Rourke/ Guy Wheatley: (Corporate Advisor| Broker)
Beaufort International, London +44 (0)20 7382 8387