Stocks to Watch: VIPR Industries Inc. (PINKSHEETS: VIPR), Drinks Americas Holdings, Ltd. (OTCBB: DKAM), Altera Corporation (NASDAQ: ALTR), Gammon Gold Inc. (AMEX: GRS), Advantage Energy Income Fund (NYSE: AAV)
Featured Stock: VIPR Industries Inc.
(PINKSHEETS: VIPR)
Current Price (0.61)
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VIPR Industries Reports Positive Grab Sampling Results from Phase I Exploration of its Singida Gold Property
TORONTO, ONTARIO-- August 11, 2008 – VIPR Industries Inc. (VIPR.PK – News) (Frankfurt:VIN.F - News) (“VIPR”) is pleased to report that grab samples taken from its Singida Gold Property have returned positive assay results of up to 4.86 grams of gold per tonne. Initial results from the Phase I surface sampling program confirm gold mineralization on VIPR’s Singida Gold Property warranting further exploration.
Surface sampling conducted as part of the Phase I exploration program at VIPR’s Singida Gold Property has identified anomalous gold values. 50 rock and soil samples were taken every 50 meters from east to west and every 500 meters from north to south for a square kilometer of widely spaced sampling. The Southern and Eastern African Mineral Centre of Tanzania utilized the fire assay method to confirm gold mineralization in the majority of the samples, including one that returned a gold assay result of 4.86 grams per tonne. The Rock and Soil Sample Report can be viewed at http://www.viprindustries.com/.
Mr. Mike Gerstner, President & CEO of VIPR Industries, commented: “These positive sampling results are the latest of several highly promising indicators of our Singida Gold Property’s potential to host an economically significant resource base. Our concessions lie directly adjacent to and along strike from Shanta Gold Limited’s Singida Project where initial exploration drilling has identified an indicated resource of 543,000 ounces of gold worth an estimated $500 million. Third-party aerial magnetic surveys have highlighted possible gold anomaly hot zones and drill targets on our property. And small-scale operations by local artisan miners indicate ore grade gold mineralization on the surface.”
Mr. Gerstner continued: “Based on these factors VIPR believes additional exploration of the Singida Gold Property’s potential is warranted. We are gearing up to move into the next phase of exploration, preparing a strategy and budget for our discussions with potential investors and partners. We are extremely pleased with the project’s initial results and believe our Singida operations will have a major impact on the company’s growth.”
On July 28, 2008 VIPR announced the closing of its acquisition of the Singida Gold Property in Tanzania’s Singida Gold Belt. Tanzania has become one of the fastest emerging gold producers in Africa, and is now the continent’s third largest gold-producing country after South Africa and Ghana. Tanzania hosts several world class mines including Anglogold Ashanti’s 27 million ounce Geita Mine which produced 327,000 ounces in 2007. Barrick Gold operates three mines and advanced projects with reserves of more than 19.2 million ounces.
About VIPR Industries Inc. (VIPR.PK)
VIPR Industries Inc. is a precious metals exploration and development company focused on gold, uranium and other high quality precious metal resources and reserves through mergers, acquisitions and resource development.
Cautionary "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995. Some of the information included in this press release and other documents by VIPR Industries Inc. (as well as information included in statements made by its representatives, about information about the business it is engaged in or proposes to engage in or about acquisitions) may contain forward looking statements. Forward looking statements do not relate strictly to historical or current facts, often will be phrased in the future tense and may include the words “may,” “could,” “should,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan” or other words or expressions of similar meaning. Forward looking statements that relate to VIPR Industries Inc. (“VIPR”) or its present or proposed business are based on VIPR’s current beliefs and expectations about future events and include statements that reflect management’s beliefs, plans, objectives, goals, expectations, anticipations and intentions with respect to VIPR’s financial condition, results of operations, future performance and business, including statements relating to VIPR’s business strategy and VIPR Industries current and future development plans. Factors that could cause actual results to differ materially from projections include, among others, precious metals prices, decisions and activities of the operator of the various properties, unanticipated grade, geological, metallurgical, processing or other problems the operator may encounter, changes in project parameters as plans continue to be refined, economic and market conditions, as well as other factors described elsewhere in this press release or any other filings submitted by VIPR. In addition, acquired royalty interests on certain projects are subject to risks associated with conducting business in a foreign country, including application of foreign laws to contract and other disputes, foreign environmental laws and enforcement and uncertain political and economic environments. Most of these factors are beyond the Company's ability to predict or control. The Company disclaims any obligation to update any forward-looking statement made herein. Readers are cautioned not to put undue reliance on forward-looking statements.
For more information please visit http://www.viprindustries.com/
Contact:
VIPR Industries Inc.
Investor Relations
Tel: (416) 644.8648
Email: info@viprindustries.com
Source: VIPR Industries Inc.
For an in-depth coverage on VIPR Industries Inc., please visit: http://www.wallstreetstockreview.com/
Other Stock To Watch In The News: Drinks Americas Holdings, Ltd. (OTCBB: DKAM) closed yesterday at (0.31) up 3.33%, Altera Corporation (NASDAQ: ALTR) closed yesterday at (21.93) up 0.09%, Gammon Gold Inc. (AMEX: GRS) closed yesterday at (10.20) up 2.62%, Advantage Energy Income Fund (NYSE: AAV) closed yesterday at (10.80) down 2.53%
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