Osceola Gold, Inc Announces Submission of Financial Reports and Upcoming Resumption of Mining Operations

Rhea-AI Summary

Osceola Gold Inc (OTC PINK:OSCI) has announced the completion of its financial reports through Q3 2024 and plans to resume mining operations in Q1 2025. The company has filed updated reports including an Attorney Letter with Respect to Current Information, available on OTC Markets, and commits to timely filing its annual report due March 31, 2025.

The company has secured a multi-year agreement for mining operations in Mary Ann Canyon. Based on a recently completed NI43101 Technical Report, OSCI targets initial production of 5-10 ounces of gold per day during ramp-up to full production. Interim CEO Tracy Pizzoferrato expressed optimism about the financial outlook, citing near all-time high gold prices. The company's M&A team is reportedly in final due diligence stages for two additional properties.

Positive

• Completed and updated financial reports through Q3 2024, demonstrating regulatory compliance
• Secured multi-year mining agreement for Mary Ann Canyon operations
• Projected production of 5-10 ounces of gold per day during initial ramp-up
• M&A team in final due diligence stages for two additional properties

Negative

• Mining operations currently suspended, pending weather conditions
• Production yet to begin, with uncertain timeline dependent on weather

ELY, NV / ACCESS Newswire / January 17, 2025 / Osceola Gold, Inc. (OTC PINK:OSCI), a junior gold mining, exploration and consulting company, is pleased to announce that it has completed and updated its financial reports through the third quarter ended September 30, 2024. These reports along with an updated Attorney Letter with Respect to Current Information can be found at www.otcmarkets.com/OSCI under Disclosures. In addition, the company has taken steps to ensure the timely filing of its year-end annual report due on March 31, 2025. This demonstrates Osceola Gold's continued commitment to high level corporate communications, transparency and regulatory compliance.

Osceola Gold is also excited to announce that mining operations are expected to resume in Q1 of 2025 as soon as the weather permits. As previously announced, the company has signed a multi-year agreement with the owner of the mining claims in Mary Ann Canyon. Based on the history at the mine and the recently completed NI43101 Technical Report, the Company has identified and targeted veins that it estimates will initially yield approximately 5-10 ounces of gold per day as it ramps up to full production.

"We are looking forward to resuming operations at the mine. As the price of Gold continues to trade near all-time highs, we are optimistic about the financial outlook for the coming year," said Tracy Pizzoferrato, interim CEO. "We are committed to delivering value to our shareholders. Osceola Gold remains focused on strategic growth and operational excellence. In accordance with our mission statement, the Company's Merger and Acquisition team is currently in the final stages of its due diligence on two additional properties which we expect to be able to discuss in upcoming press releases.

For more information, please contact:

Osceola Gold Inc.
Investor Relations
Phone: (740) 632-5313
Email: investor.relations@oscigold.com
Website: www.oscigold.com

About Osceola Gold About Osceola Gold (OSCI): Osceola Gold Inc. (OTC: OSCI) is a publicly traded gold mining and exploration company headquartered in Ely, Nevada. The company is dedicated to the discovery, extraction, and processing of gold resources, employing best-in-class practices and technologies. Osceola Gold is committed to delivering exceptional value to its shareholders while upholding high standards of environmental and social responsibility.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words such as "believes," "expects," "anticipates," "intends," "outlook," "plans," "seeks," "estimates," "will," "may," "should," "could," "forecasts," and other similar expressions, including the negatives of these words. These forward-looking statements are subject to risks and uncertainties, including but not limited to those described in Osceola Gold's filings with the Securities and Exchange Commission.

SOURCE: Osceola Gold, Inc.

View the original press release on ACCESS Newswire

FAQ

When will Osceola Gold (OSCI) resume mining operations in 2025?

Osceola Gold plans to resume mining operations in Q1 2025, weather permitting, at their Mary Ann Canyon location.

What is the expected daily gold production for OSCI's Mary Ann Canyon mine?

According to the company's estimates, initial production is targeted at 5-10 ounces of gold per day during ramp-up to full production.

What financial reports has OSCI recently completed?

OSCI has completed and updated its financial reports through the third quarter ended September 30, 2024, and plans to file its year-end annual report by March 31, 2025.

How many new properties is OSCI currently evaluating for acquisition?

OSCI's Merger and Acquisition team is currently in final due diligence stages for two additional properties.