Dr. Michael Stocker
Director, President & CEO,
Constitution Mining Corp.
Dear Investor,
Our company's focus is on the cost-effective exploration and development of large gold deposits, always with an eye to building profitability and shareholder value.
We're interested primarily in proven gold-bearing geographical areas – elephant country, so to speak. That’s why we are focusing our exploration and development efforts in northeastern Peru (Gold Sands project) and Nevada’s Walker Lane gold belt. Both regions are home to several proven deposits in the multi-million ounce range currently being operated by the world’s largest gold producing companies and both are highly prospective districts likely to hold further large deposits.
Such jurisdictions offer an additional advantage for a Company whose fundamental mission is to build shareholder value. They are mining-friendly. Characteristics we seek are:
Taxes and sovereign royalties are reasonable, set at levels to attract investment (not discourage it).
The legal regime for mineral rights is well-developed, with clear, stable rules and procedures.
The permitting system for mine development is rational and efficient, to protect miners from needless delays and uncertainties.
The political system is stable, so that there is reasonable confidence that the rules won't change radically during a mine's lifetime.
To identify, acquire and develop large properties in identified areas of interest, we have assembled a management team of big-mine professionals with experience in all the technical, legal and financial aspects of gold mining. But we don't plan to go it alone on every project. In evaluating possible projects, we consider the availability and suitability of potential industry partners.
Peru
Our first and most active project is in the Gold Sands region of Peru, where we hold options on 461 square kilometers (178 square miles) of mining property, the largest such block in the district.
The Gold Sands of Peru were laid down by eons of alluvial erosion. For millions of years, the waters of the Santiago and the Marañón rivers have been carving their way through the gold-rich mountain canyons of the Andes, carrying off vast amounts of gold and depositing much of the treasure in loose gravels and sands - Gold Sands - in the area the Company now controls.
Results from test holes drilled a decade ago indicated a potential presence of tens of millions of ounces of alluvial gold. The Company is now engaged in program of pitting and test-mining to confirm and extend those earlier results and to gather further data for determining the feasibility of large-scale mining of this vast resource.
You can find more details on our Gold Sands project by clicking here now.
Nevada
Our second are of focus is Nevada, whereby, on April 1st, 2010, we executed a definitive and binding Asset Purchase Agreement with Seabridge Gold Inc. to acquire 30 Nevada-based gold projects comprising of 2,141 claims, primarily located in the heart of Nevada's prolific Walker Lane gold belt.
The most advanced project in the package of mineral claims is the Castle Black Rock gold project, which has an NI-43-101-compliant gold resource of 215,000 ounces in the measured and indicated categories (12.38 million tonnes grading 0.54 gram of gold per tonne) and 93,000 ounces in the inferred category (7.95 million tonnes grading 0.37 gram of gold per tonne).
The Walker Lane region of Nevada is home to several world-class gold deposits, including Round Mountain, which has produced more than 10 million ounces of gold. Additional mines include Gold Hill (produced 4.5 million ounces of gold), Paradise Peak (produced more than 1.6 million ounces of gold) and the Bullfrog Mine (produced 3.5 million ounces of gold). Nevada is currently the world's 4th largest gold producing region in the world, following China, South Africa and Australia.
You can find more details on our Nevada portfolio by clicking here now.
Yours sincerely,
Dr. Michael Stocker
Director, President & CEO
Constitution Mining Corp. (CMIN.OB)
