BEIJING, Oct. 24 /PRNewswire-FirstCall/ - Land Star Inc. (LDSR) www.landstarcorp.com today after the market closed, the issuer announced that it has scheduled a closing date for the merger completion of the Colorado mining project to be completed next week, the week of October 27. The company is also acquiring a processing plant, to process ore from the bonanza style patented prospect, on a valuable milling patent held on the project.
Mr. Fowler, the company's Chief Geologist, said, "The ability to process onsite the readily available ore, from these established mining patents, brings forward the critical cash flow needed to fund an extensive drilling program. This is an important component as it elevates the need to have the company finance the same via debt, dilution, or other means. To fully understand the scope and extent of what appears to be an extremely attractive prospect, one just has to consider the following. The highest grade recorded pre 1937 on these patents was 300 ounces per ton, this is unheard of in modern times, but was more common on high grade deposits from this area. The management and staff of Land Star are delighted and excited about the future of this project to say the least".
In other corporate news the issuer officially launched its corporate web site www.landstarcorp.com. All relevant info about the issuer will be posted on this site and www.pinksheets.com symbol LDSR. Concurrently, management representatives are in Beijing still finalizing the details of the planned acquisition of Hubei Chuguan. It is anticipated that once the fine details of the Hubei Chuguan deal should be finalized shortly.
Mr Fowler concluded "These are truly exciting times for all of us at Land Star"
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
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