WESTLAKE VILLAGE, CA / ACCESSWIRE / March 11, 2022 / Star Alliance International Corp. (OTC PINK:STAL) ("STAR"). STAR is pleased to announce that it has signed a letter of Intent to acquire 99% of the issued share capital of STARVING LION, INC., ("SL") a BVI corporation with offices in Tortola, British Virgin Islands. SL operates six profitable operating gold mines in Guatemala with net profits annually in excess of $5 million. The purchase price for the mines and its reserves is $180 million. This acquisition is subject to due diligence which includes a current NI 43-101 appraisal that is expected to confirm gold reserves exceeding one million ounces with a value of over $2 billion.
Richard Carey, Chairman of STAR, commented, "This is the next step in our significant growth strategy. It is a perfect time to acquire not only revenue producing mining operations but also to add to our significant gold reserves especially with gold prices around $2,000 per ounce. We continue to look for other growth opportunities.
It has been my intent as Chairman to ensure that our shareholders benefit from the growth and profitability of our Company and once we close this transaction we will start issuing dividends to our shareholders at least twice per annum with the plan to change to quarterly dividends as soon as possible."
Richard continued, "As always, our intent is to increase shareholder value."
About Star Alliance International Corp.
Star Alliance International Corp. ("the Company", "we", "us") was incorporated in the State of Nevada on April 17, 2014 under the laws of the State of Nevada.
In August 2019, following a change in control, the Company acquired the mining claims, buildings and equipment from Troy Mining Corporation. The Project is located at the base of the "gold mother lode" in one of the three major vein belts where the greatest concentration of minerals settled, over the years, in California.
Our gold estimates have been confirmed by geologists showing significant reserves of gold located in veins within the areas that are covered by our California mining leases.
The Company plans to commence mining as soon as is feasibly possible.
In December 2021 the Company executed the agreements to acquire 51% of Compania Minera Metalurgica Centro Americana SA (Commsa), a HonduranCorporation. Commsa owns the mining rights to five mines, one approved for mining and 4 approved for exploration. These mines run along a 12.5 mile stretch of the Rio Jalan River. We will commence mining operations very shortly and the Company plans to expand operations as soon as possible.
In November, 2021, STAL entered into a binding Letter of Intent to acquire 49% of Lions Works Advertising, SA, a Guatemala Corporation that owns the "Genesis" ore extraction process. Since signing the Letter of Intent the company has renegotiated and will now acquire a 51% interest. This green, environmentally friendly process, extracts up to 98% of the gold ore from the rock. A single module processes 300 to 350 tons of ore daily. The speed of extraction is up to 400 times faster than a conventional heap leaching process.
The Company plans to market" Genesis" to mining companies worldwide.
Safe Harbor and Informational Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.
The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statement is not a guarantee of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's statements and reports filed with the OTC Markets. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.
For more information, contact Richard Carey
E Mail: info@staralliancemines.com
Web Site: staralliancemines.com
Twitter: @staralliancein1
SOURCE: Star Alliance International Corp.
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