MAZATLAN, SINALOA, Mexico, via ETELIGIS INC., 12/23/2014 – – DynaResource de Mxico SA de C.V. ("DynaMxico", and "the Company"), the 100% owner of the San Jose de Gracia Project in Sinaloa State, Mexico announces that it filed on December 09, 2014, in the Civil Court of the Superior Court of Justice of the Federal District of Mexico (Tribunal Superior de Justicia del Distrito Federal), as File number 1120/2014; an Original Petition and Legal Demand (the "Demand") against Defendants Goldgroup Mining Inc., Goldgroup Resources Inc., and certain individuals acting in concert with the two Goldgroup companies (collectively "Goldgroup"). The Demand complains that Goldgroup has: (a) wrongfully used property, confidential information and data belonging to DynaMxico; (b) consistently failed to disclose, or has disclosed inaccurately, several matters of material importance to the public; and, the Demand seeks to declare the American Arbitration Association (AAA) proceedings in Denver, Colorado, (filed by Goldgroup), as invalid or seeks to nullify such proceedings.
The Demand requests substantial damages be awarded DynaMxico from and against Goldgroup for: (a) wrongfully using and disseminating confidential information and data belonging to DynaMxico; (b) asserting that Goldgroup owns any interest in the San Jose de Gracia Project in northern Sinaloa, Mexico ("SJG Project"), rather than accurately disclosing that Goldgroup owns a common shares equity interest (shareholder's interest) in DynaMxico; (c) improperly disclosing the percentage of common shares equity interest (shareholder's interest) owned by Goldgroup in DynaMxico; (d) improperly disclosing or implying that Goldgroup is the operator of the San Jose de Gracia Project; (e) attempting to delay, stop, or otherwise impair the financing of, and further development of, the SJG Project; (f) making numerous threats against DynaMxico management and officers; (g) failing to properly disclose that broad powers of attorney for acting on behalf of DynaMxico are held by an individual not affiliated with Goldgroup.
DynaMxico believes the filing of the Demand to be necessary in order to protect its property and interests, and in order to seek fair retribution and substantial damage amounts caused by Goldgroup against DynaMxico and the SJG Project.
DynaMxico Statements of Fact
In recent years, Goldgroup has continuously and consistently misrepresented its interest, ownership, and position related to DynaMxico and the SJG Project. DynaMxico does herein state and represent the following:
1. At no time has Goldgroup owned any interest in the SJG Project; rather its only ownership interests have been earned under agreement as a common shares equity interest (shareholder's interest) of DynaMxico;
2. Goldgroup currently owns 20% of the outstanding share capital of DynaMxico;
3. Goldgroup does not currently own 50% of the outstanding share capital of DynaMxico as Goldgroup has recently stated in numerous public disclosures and public filings;
4. Goldgroup's 20% ownership of DynaMxico was ordered to be maintained and represented as such (the "status quo") by a Mexican Judge overseeing certain claims by Goldgroup;
5. At no time during its involvement as a common shares equity interest holder (shareholder) of DynaMxico, has Goldgroup been an operator at the SJG Project;
6. Since the earning of its shareholder's interest in DynaMxico (March, 2011), Goldgroup has continuously refused to contribute funds to the ongoing maintenance, advance, and further development of the SJG Project;
7. Consistently and continuously since March 2011, Goldgroup has sought and threatened to stop, delay, or otherwise impair the financing, maintenance, advance and further development of the SJG Project.
San Jose de Gracia ("SJG")
The San Jose de Gracia District, currently covering an area of 69,121 Hectares, is 100% owned by DynaResource de Mxico, S.A. de C.V. ("DynaMxico").
In excess of one million ounces gold was reportedly produced from the SJG District in the early 1900's, originating from high grade gold veins, including approximately 470,000 Oz. gold reportedly produced from the La Purisima area of SJG at an average gold grade of 66.7 g/t. In June 2010, the SJG Project was recognized by the State of Sinaloa as the most significant Gold Project in the State for the year 2010.
National Instrument 43-101 ("NI 43-101") Technical Report for DynaMxico – SJG
O March 28, 2012 DynaMxico issued a National Instrument 43-101 ("NI 43-101") compliant Technical Report for the San Jose de Gracia Project (the "2012 DynaMxico Luna-CAM SJG Technical Report", the "Technical Report"), and approved by DynaMxico, the 100% owner of SJG. The 2012 DynaMxico Luna-CAM SJG Technical Report was prepared by Mr. Ramon Luna, BS, P.Geo., of Servicios y Proyectos Mineros, Hermosillo, Mxico and a Qualified Person as defined under NI 43-101; and by Mr. Robert Sandefur, BS, MSc, P.E., a senior reserve analyst for Chlumsky, Armbrust & Meyer LLC, Lakewood, CO., and a Qualified Person as defined under NI 43-101. The 2012 DynaMxico Luna-CAM SJG Technical Report includes as Section Fourteen (14) a Mineral Resource Estimate for SJG as prepared by Mr. Sandefur (the "2012 DynaMxico-CAM SJG 43-101 Mineral Resource Estimate", and, the "Mineral Resource Estimate").
On December 31, 2012, DynaMxico issued an updated NI 43-101 compliant ("NI 43-101") Technical Report for the San Jose de Gracia Project (the "Updated 2012 DynaMxico Luna-CAM SJG Technical Report, and the "Updated Technical Report"). The Updated Technical Report was approved by DynaMxico, and filed with SEDAR on December 31, 2012.
National Instrument 43-101 ("NI 43-101") Mineral Resource Estimate for SJG
The 2012 DynaMxico-CAM SJG Mineral Resource Estimate concentrates on four separate main vein systems at SJG: Tres Amigos, San Pablo, La Union, and La Purisima. The Mineral Resource Estimate includes the following Resources:
"Indicated Resources":
(1) Tres Amigos; 893,000 tonnes with an average grade of 4.46 g/t, totaling 128,000 Oz. Au;
(2) San Pablo; 1,308,000 tonnes with an average grade of 6.52 g/t, totaling 274,000 Oz. Au.;
"Inferred Resources":
(1) 3,953,000 tonnes in aggregate for the four main vein systems, with an average grade of 5.83 g/t, totaling 741,000 Oz. Au.
The Effective Date of the 2012 DynaMxico Luna-CAM SJG Technical Reports and including the 2012 DynaMxico-CAM SJG 43-101 Mineral Resource Estimate is February 6, 2012. The Mineral Resource Estimate is reported using a 2.0 g/t cut off grade for underground mining. As of the Effective Date of the Technical Reports and Mineral Resource Estimate, there is no economic assessment report completed for SJG so the precise cutoff grade for underground mining has not yet been determined.
On behalf of the Board of Directors,
K.D. DIEPHOLZ;
DynaResource de Mexico, SA de CV.; Presidente
IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company has Shareholders who are "OTC Reporting Issuer" as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian provincial Securities Commissions.
Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC") applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC and not subject to Canadian securities legislation. This news release or other disclosure provided by the Company may use the terms "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves. In addition, "inferred mineral resources" have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, although they may form, in certain circumstances, the basis of a "preliminary economic assessment" as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S. investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This News release contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed "forward-looking". All statements in this news release, other than statements of historical fact, that address events or developments that DynaMxico expects to occur, are "forward-looking information". These statements relate to future events or future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of DynaMxico. These forward-looking statements reflect the Company's current internal projections, expectations or beliefs and are based on information currently available to DynaMxico. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Certain assumptions may have been made regarding the Company's plans at the San Jose de Gracia property. Many of these assumptions are based on factors and events that are not within the control of DynaMxico and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and Mxico; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country which DynaMxico currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which DynaMxico does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks). Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in the forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although DynaMxico believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. DynaMxico expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
CONTACT:
For further information on DynaMxico, please contact:
K.D. DIEPHOLZ;
US Telephone: 972-868-9066
DynaResource de MxicoPresidente;
SOURCE: DynaResource, Inc.
