Southern ITS International, Inc. and Atacama Minerals Inc. Sign Definitive Agreement

Rhea-AI Summary

Southern ITS International (OTC Pink: SITS) announced a definitive agreement to acquire a 30% interest in Atacama Minerals, Inc. President James Shipley expressed optimism about this new partnership. Atacama Minerals operates the Flamenco Gold Mining project in Chile, covering 1,830 hectares near major mining operations. The project shows promise with its geological findings aligning with successful nearby operations like Tesoro Resources’ El Zorro project, which boasts an initial gold resource estimate worth approximately $1.15 billion. Southern ITS aims to build a diverse portfolio and e-commerce operations.

Positive

• Acquisition of a 30% interest in Atacama Minerals, Inc.
• Flamenco Gold Mining project shows potential with geological alignments to successful projects.

Negative

• None.

Palm Desert, CA, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Southern ITS International, Inc., (OTC Pink: SITS) announced that it and Atacama Minerals, Inc. have signed a definitive agreement, whereby Southern ITS International, Inc. will own a thirty percent (30%) interest in Atacama Minerals, Inc.  James Shipley, President of Southern ITS International, Inc. said, “We look forward to our relationship with Atacama Minerals and their successes with their mining projects.”    

Mr. Daniel Miroli, Chief Operating Officer of Atacama Minerals and its wholly owned Chilean subsidiary, Minera Los Apires SpA, said, “We are 100% owners of the Flamenco Gold Mining project located in the world-renowned Atacama Desert Fault, regional home of several major gold and copper mining operations and exploration projects.   Our mineral leasehold is 1830 hectares, approximately 4500 acres.”

He went on to say, “The Flamenco Project is located in the coastal Chilean mountain range some 15 kilometers from the ocean, surrounded by a number of world-class mining operations. Twenty kilometers to the East is Mantoverde Mine, a major copper-gold mining operation in the process of a billion-dollar production and processing expansion plan.   South and West next of our Flamenco project, is El Zorro, a large exploration project headed by Tesoro Resources which is an Australian public company.  They recently announced an initial maiden gold resource estimate of 660 kilo ounces representing a dollar value of around $1.15 billion.  These estimate results only represent less than 1/3 of the 60,000-meter drilling campaigns completed.

The announcement by Tesoro Resources is a confirmation of Flamenco's own geological study findings and results since both projects are in the same mineralized geological structural body. We are extremely excited about these new developments, and we are looking forward to commencing our own initial drilling campaign to establish proven and inferred gold reserves. Since the commencement of the El Zorro project which started approximately two years ago, we have been closely following and analyzing their strategy as a model to our Flamenco project.” 

Further information concerning the Mantoverde Mine can be found here:
https://mantoscopper.com/

Further information concerning the Tesoro Resources El Zorro Project can be found here:
https://www.tesororesources.com.au/projects/el-zorro/

About Southern ITS International, Inc.

Southern ITS International, Inc. intends to own and/or control a portfolio of highly- successful businesses and will focus on a being a multi-national conglomerate. As a holding company, Southern ITS International will be in the market to acquire a stake in various companies both public and private. It will also focus on building a direct sales network of various e-commerce internet applications, manufacturing, and internet sales of various products. We will build an experienced management team that will build a diverse portfolio, buying entire companies, or interests therein, involved in technology, oil and gas, manufacturing, real estate, and other sectors, which will then become operating subsidiaries of Southern ITS International. 

Precautionary  and Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with the SEC. You are further cautioned that penny stocks and stocks of smaller companies like Southern ITS International, Inc. are inherently volatile and risky, and that no investor should buy this stock unless they can afford the loss of their entire investment.

Contact: 
Southern ITS International, Inc.
Investor Relations
442-300-6522
info@sitsintl.com

Source:  Southern ITS International, Inc.

FAQ

What recent agreement did Southern ITS International (SITS) announce?

Southern ITS International announced a definitive agreement to acquire a 30% interest in Atacama Minerals, Inc.

What is the Flamenco Gold Mining project associated with Southern ITS (SITS)?

The Flamenco Gold Mining project, operated by Atacama Minerals, covers 1,830 hectares in Chile and is located near significant mining operations.

What is the estimated value of the gold resource at the El Zorro project mentioned in the press release?

The El Zorro project has an initial gold resource estimate of approximately $1.15 billion.

How does the partnership with Atacama Minerals benefit Southern ITS (SITS)?

The partnership is expected to provide Southern ITS with exposure to the gold mining sector and potential financial gains from the Flamenco project.