BOCA RATON, Fla., Sept. 25, 2012 -- Gold Coast Mining Corp. (OTC: GDSM) ("Gold Coast" or the "Company") announced today it has received an unsolicited Letter of Interest ("LOI") from International Gold Mining Reserve Corp. ("IGMR") for a potential merger between the two companies combining properties, resources and management. Gold Coast plans to pursue a Definitive Agreement expeditiously, as the LOI has a 30-day response clause. The merger offer would include key mining relationships, geological advisors and financing resources.
Gold Coast views this unsolicited offer as an opportunity to strengthen the Company's position in the precious metals sector. Management will approach the merger with the goal of building shareholder value and enhancing the Company's overall competitive position. The combined company's investors, mining partners, and advisors have all expressed a desire to build a stronger foundation with the completion of the merger.
Marc Lovito, President of Gold Coast Mining Corp., stated, "The merger works towards achieving management's executive goals of building shareholder value. This is a tremendous opportunity to bring expertise and mining resources to Gold Coast. Our key management team and advisors have committed their full-time and energy in evaluating this potential offer before making any further executive decisions."
International Gold Mining Reserve Corporation's Chief Operating Officer, Steven A. Ragan said, "We look forward to achieving shareholder's common goals in this clearly synergistic tie-up. The union of Gold Coast and IGMR combines human resources and mineral assets in a very timely environment in the precious metals space, with the backdrop of global fiscal policy supporting this strategic merger."
ABOUT INTERNATIONAL GOLD MINING RESERVE: IGMR is a private venture owning approximately 960 acres which includes 48 lode claims in the historic Shoshone Mining District. The historic Shoshone Mining District was in operation until 1957 by Anaconda Copper Mining Company with reported production of 3,300,000 oz/Ag, 52,800 oz/Au, as well as significant copper, lead and zinc ore.
Learn more about IGMR's 48 lode claims: www.igmrgold.com
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Gold Coast Mining Corp.
Marc Lovito, President
International Gold Mining Reserve Corp.
Steven A. Ragan, COO
SOURCE Gold Coast Mining Corp.