Clifton Mining Company (OTCBB: CFTN) (Clifton) - "September 2022 Report"

Rhea-AI Summary

Clifton Mining Company has released its production report from Desert Hawk Gold Corp. for June and July 2022. In this period, the company sold 505 ounces of gold and 618 ounces of silver, while processing 11,821 tons of ore. Mining and crushing operations have ceased, but the heap leach pad continues, with an estimated 3,313 recoverable ounces of gold remaining. The company has engaged a consulting geologist to evaluate potential prospects amid expectations for an expansion permit this Fall.

Positive

• Sold 505 ounces of gold and 618 ounces of silver in June and July 2022.
• Estimated 3,313 recoverable ounces of gold remaining on the leach pad.

Negative

• Ceased mining and crushing operations.
• Awaiting expansion permit, which may delay future production.

AMERICAN FORK, Utah, Sept. 13, 2022 /PRNewswire/ - Production - Clifton Mining Company has received the production report from Desert Hawk Gold Corp. for June and July 2022.  During the two (2) months ending on July 31, 2022, Desert Hawk sold a total of 505 ounces of gold and a total of 618 ounces of silver recovered from the leach pad. They also reported crushing 11,821 tons of ore during June and have since cease mining and crushing operations.  However, they are still running the heap leach pad and are anticipating receipt of their expansion permit this Fall.  They estimate that at the end of July, there was 3,313 recoverable ounces of gold remaining on the leach pad.

Exploration and Development – The Company has hired a consulting geologist who had worked with the Company in the past and already has some familiarity with sections of the Company's properties and with the Cliton Mining District area.  Management has authorized the consultant to assess each of the potential prospect's area and report back to the Company with their recommendations.  Desert Hawk has continued production and is still waiting for its expansion permit anticipated to be issued this Fall.

Clifton trades on the OTC Markets under the symbol: "CFTN".  For phone contact, please feel free to call Dr. Ken Friedman, President, at 303-642-3134.

Note: Any statements released by Clifton Mining Company that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Editors and investors are cautioned that forward looking statements invoke risk and uncertainties that may affect the company's business prospects and performance.

View original content:https://www.prnewswire.com/news-releases/clifton-mining-company-otcbb-cftn-clifton--september-2022--report-301622739.html

SOURCE Clifton Mining Company

FAQ

What were Clifton Mining Company's gold and silver sales in June and July 2022?

Clifton Mining Company sold 505 ounces of gold and 618 ounces of silver during June and July 2022.

What is the current status of the heap leach pad for Clifton Mining?

As of July 31, 2022, there were 3,313 recoverable ounces of gold remaining on the heap leach pad.

Why has Clifton Mining ceased mining and crushing operations?

Clifton Mining has ceased mining and crushing operations but continues to operate the heap leach pad.

What is the anticipated timeline for Clifton Mining's expansion permit?

Clifton Mining is anticipating the issuance of its expansion permit this Fall.

Which company reported production figures for Clifton Mining?

Desert Hawk Gold Corp. reported production figures for Clifton Mining Company.