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| | April 25, 2008
Daleco Resources Corporation Reports Sierra Kaolin Project Mining Permit Application
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| | Gary J. Novinskie, President of Daleco Resources Corporation (DLOV:OTCBB), announced today that Tecumseh Professional Associates, Inc. (Tecumseh), joint venture partner and project manager in conjunction with Daleco's wholly owned subsidiary, Clean Age Minerals, Inc., submitted a Plan of Operation (POO) to the United States Forest Service (USFS) for the Company's Sierra Kaolin Project. The POO is essentially a mining permit application for the proposed Sierra Kaolin Open Pit Clay Mine that will be located on the Southerner Federal Mining Claim, in the Gila National Forest, Sierra County, New Mexico.
The POO details the proposed scope-of-work to achieve the following: development of access roads to the mine pit; development of the mine pit and mine waste dump; measures to retain the scenic value of the surrounding area; measures to protect the environment; progressive reclamation of the mine site and; close-out reclamation of the mine site following completion of the mining operation. The submittal of the POO to the USFS was conducted as a necessary step for the commercialization of its Sierra Kaolin clay deposit.
Steve Roche, President of Tecumseh, noted that the Sierra Kaolin Project partners are optimistic that the USFS will approve the submitted POO, with certain provisions, for the following reasons: The Sierra Kaolin project area is a previously disturbed mine site; the project area consists of 25 federal mining claims where five mining claims have been extensively drilled, cored, sampled, and mined over the past 50 years; the proposed mining activity is designed to impact a mine "footprint" that will be 10-acres or less in size. By controlling the surface area undergoing mining activities at anyone time, the environmental impact of the extraction operations can be controlled.
Mr. Novinskie stated that, in addition to the filing of the extraction permit application, the Clean Age-Tecumseh joint venture has initiated technical presentations to entities active in the coatings, fillers and pigments sectors of the paper and paint industries. The results of these presentations are expected over the next several months.
Daleco Resources is a resource company with operating subsidiaries active in oil and gas, minerals, and environmental remediation technology.
Safe harbor for Forward-looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the Company's operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings. |
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| | You can view the Next News Releases item: Tue Jan 20, 2009, Daleco Resources Corporation Updates Sierra Kaolin Open Pit Clay Mine Project
You can view the Previous News Releases item: Fri Apr 18, 2008, Daleco Resources Corporation Reports on Annual Meeting
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Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in our press releases, such as "measured," "indicated," and "inferred "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-KSB which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.
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