BELO HORIZONTE, BRAZIL — (May 12, 2020) – Jupiter Gold Corporation (OTC PINK: JUPGF) (“Jupiter Gold” or the “Company”) is pleased to announce that its technical team working alongside the highly-regarded mineral consultancy GE21 Consultoria Mineral Ltda. (“GE21”) has made substantial advances towards understanding the structural geology of its 100%-owned Alpha Project. An additional goal of the studies conducted was to support the Company’s forthcoming independent technical report on this project, and for this purpose 225 samples were collected for geochemical and gold processing analysis. A photograph of some these samples is attached below.
Jupiter Gold geologists descended on 13 shafts (up to 70 feet deep) for direct collection of samples and analysis of geological morphology in situ, thus aggregating more data than customary drilling studies. The map below shows the mapped shafts within the Alpha Project.
Mr. Areli Nogueira, senior geologist at Jupiter Gold, commented: “We have progressed very well this year so far with respect to the Alpha Project. It is very exciting to see it evolve and expand to its full potential.”
Jupiter Gold’s Alpha Project is located within a geological formation known as the Rio das Velhas Supergroup, where some of the largest gold mines in Brazil have existed. A few decades ago, approximately 2% of the current area for the Alpha Project was researched by a prior owner which resulted in an estimation for the upper layers in such study area of 64,000 oz. of gold with a cutoff of 0.8 g/t, reported in official filings to the Brazilian mining department at the time. Presently, with gold at ~$1,700/oz., the economic potential of the project is materially improved as gold was priced at $250-300/oz at that time. Furthermore, Jupiter Gold’s technical team believes that there is potential for larger gold mineralization for multiple reasons including vertical expansion with drilling in the initial site to characterize primary gold deposits in rock underneath the known deposits in saprolite and colluvial layers.
Jupiter Gold Corporation (OTC PINK: JUPGF) has 100%-ownership to several gold projects in Brazil in development and exploratory stages and aggregating over 154,000 acres. Brazil Minerals, Inc. (OTC PINK: BMIX) is a significant equity holder of Jupiter Gold. More information on Jupiter Gold is available at www.jupitergoldcorp.com. Follow it on Twitter: @JupiterGoldCorp
Safe Harbor Statement
This press release contains forward-looking statements made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Jupiter Gold Corporation’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Brazil, general economic conditions, geopolitical events and regulatory changes, availability of capital, Jupiter Gold Corporation’s ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. We advise U.S. investors that its projects, as of now, do not have measured “reserves” as such term is specifically defined by the Securities and Exchange Commission.
Brian W. Bernier
Head of Investor Relations and Corporate Development
Jupiter Gold Corporation