Clifton Mining Company (OTCBB: CFTN) (Clifton) - "Summer Update"

Rhea-AI Summary

Clifton Mining Company, based in American Fork, Utah, announced production and sales reports for April and May 2021, revealing that Desert Hawk Gold Corp. sold 544 ounces of gold and 573 ounces of silver from its leach pad. The company has also introduced a tank leach operation to process high-grade ore, anticipating increased profitability. Additionally, Clifton has repurchased 2,859,366 shares and its subsidiary, American Biotech Labs, received three Best of State Awards in Utah for health/nutrition products, medical manufacturing, and devices. Clifton holds significant stakes in Desert Hawk and American Silver, LLC.

Positive

• Desert Hawk sold 544 ounces of gold and 573 ounces of silver in April and May 2021.
• Introduction of a tank leach operation allows processing of high-grade ore, potentially boosting profitability.
• Clifton has repurchased 2,859,366 shares, potentially improving shareholder value.
• American Biotech Labs received three Best of State Awards, highlighting the success of its products.

Negative

• None.

AMERICAN FORK, Utah, July 15, 2021 /PRNewswire/ - Exploration, Development, and Production - Clifton Mining Company has received the production and sales reports for April and May 2021.  Desert Hawk Gold Corp. (Desert Hawk) sold 544 ounces of gold and 573 ounces of silver over these two months.  These precious metals were all recovered from the leach pad.  Recent videos of the operations can be seen on the following two links, with one covering the mine pit area and the other covering the heap leach operations: https://youtu.be/_YDobG7YecI and at https://youtu.be/QdcH8rBBk0g.

In addition, Desert Hawk has added a tank leach operation on site and is now processing high grade ore from a nearby mine.  With this additional source of income and the increased production from the heap leach operations, Desert Hawk anticipates a significant increase in profitability in the coming months.  Clifton owns 5.81 million shares of Desert Hawk.

Repurchase Program - Clifton is continuing to repurchase shares pursuant to SEC Rule 10b-18 and as of June 30, 2021, has repurchased a total of 2,859,366 shares. 

New Awards - American Biotech Labs, LLC and other wholly owned entities of American Silver, LLC, have continued their goals for excellence and among a large number of biotech companies in the State of Utah, have recently received three Best of State Awards.  These awards include: Best of State for Health/Nutrition Products, Best of State for Medical manufacturing, and also Best of State for Medical Devices.  For more information on American Biotech Labs products, please see https://silverbiotics.com.  Clifton currently owns 17.5% of American Silver, LLC.

Please see the Company's website https://www.cliftonmining.com for additional Company information.  Clifton trades on the OTC Markets under the symbol: "CFTN".  For additional information, please feel free to contact Dr. Ken Friedman, President at 303-642-3134, or Keith Moeller at 801-756-1414 ext.100.

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--summer-update-301334413.html

SOURCE Clifton Mining Company

FAQ

What production figures did Clifton Mining Company report for Desert Hawk in April and May 2021?

Clifton Mining reported that Desert Hawk sold 544 ounces of gold and 573 ounces of silver in April and May 2021.

What new operations has Desert Hawk introduced?

Desert Hawk has introduced a tank leach operation to process high-grade ore, which is expected to increase profitability.

How many shares has Clifton Mining repurchased?

As of June 30, 2021, Clifton Mining has repurchased a total of 2,859,366 shares.

What awards did American Biotech Labs receive?

American Biotech Labs received three Best of State Awards for health/nutrition products, medical manufacturing, and medical devices.

What is the stock symbol for Clifton Mining Company?

Clifton Mining Company trades on the OTC Markets under the symbol 'CFTN'.