LAS VEGAS, Oct. 4, 2010 (GLOBE NEWSWIRE) -- The following is a letter from the President of Selva Resources Corporation regarding the first earnings from Piura Peru:
Luis Pella, President
The month of September saw the first process test results from the company's facilities in Sullana resulting in first revenue deposits. Oxidized ore yielded gold ore with a 93% recovery using a carbon in pulp method and the high sulphide ore is being accumulated for shipping to our partner facilities in Tacna, Peru.
During the first half of 2010, the Company focused on improving our producer relations in the Piura gold district to secure additional ore supplies through our new buying office in Sullana, Piura.
We have continued to strengthen our balance sheet during one of the most volatile financial periods in history. In addition to an aggressive expansion of operations, private placement equity sales have successfully financed the purchase of controlling interest in an SEC fully reporting company actively on the OTCBB exchange under the symbol SLVH.
The proceeds from the registered offering being prepared now will enable us to complete our construction project building the first ever processing plant permitted in the newly developing Piura gold district.
In addition to a liquid market for our first round investors, this merger has enabled us to offer attractive terms to an acquisition candidate having excellent income and operating experience in the region.
Third quarter financial result details will be described in the audited financial statements that are being submitted to the SEC along with management's discussion and analysis will be available on the Company's website,
Selva Resources Corp. is a Nevada based American gold refiner in the business of developing and operating facilities to exploit our important relations with gold producers in Piura, Peru. The Company's focus has been on progressing the permit phase of the first processing plant development in the State and the acquisition of an operating competitor in Peru and talks have begun with our primary target.
If you would like to receive press releases via email, please contact info@ SelvaResources.com and specify "Selva Resources Corp. releases" in the subject line.
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
CONTACT: Selva Resources Corp. Investor Relations +1.(888) 666-3109 info@selvaresources.com www.selvaresources.com 3565 Las Vegas Blvd S., Ste. 723 Las Vegas, NV 89109
