BELO HORIZONTE, BRAZIL, March 22, 2021 – – Jupiter Gold Corporation (OTCQB: JUPGF) (“Jupiter Gold” or the “Company”) announced today that it had successfully completed exploratory drilling of part of its 100%-owned Quartzite Project in the state of Minas Gerais. A drilling company with experience in quartzite drilled 4 holes separated by 50 meters each and with depths up to 15 meters. High-quality, commercial-grade quartzite was observed throughout the samples collected. The information obtained will permit the Company to finalize its initial mine license application. Photos of samples retrieved are attached to this release.
In 2020, while researching one of its mineral rights in Minas Gerais, Jupiter Gold’s technical team discovered four nearby quartzite deposits, a mineral which is highly sought after for kitchen countertops, tiles, and other architectural applications; Brazil is a leading global exporter. Preliminary calculations indicate a potential aggregate of 3.7 million tons of quartzite in Jupiter Gold’s Quartzite Project with an expected revenue to the Company of $1,800 to $2,000 per cubic meter sold. The Company anticipates a profitable operation of its Quartzite Project that could last a decade or more at net margins of 60% or more.
Jupiter Gold Corporation (OTCQB: JUPGF) owns 100% of its projects, including: i) the Alpha Gold Project, a 34,911-acre greenstone belt project in Minas Gerais in an area known as the “premier Brazilian gold province”, ii) the Alta Floresta Gold Project, a 24,395-acre gold project in Mato Grosso, and iii) the Quartzite Project, a 2,152-acre mineral right where a quartzite mine is in development. Brazil Minerals, Inc. (OTC Pink: BMIX) owns approximately 30% of the Company. More information on Jupiter Gold is available at www.jupitergoldcorp.com.
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
Jupiter Gold Corporation