RiverRun Resources Contracts Peruvian Services Company
November 19th, 2008 - Posted in Gold, Gold Mining CompaniesRiverRun Resources Inc. announces the execution of a services contract with Logistica y Servicios Aluviales San Lorenzo SAC to develop the company’s 79 km2 of mining properties in the Gold Sands district of northeastern Peru. The company has the option to acquire up to 100% of the mineral rights on terms previously disclosed.
RiverRun has contracted San Lorenzo, a Peruvian Service company to supply contract services with respect to RiverRun’s Gold Sands project in northeastern Peru. San Lorenzo is to provide complete mining services which include logistics and infrastructure in the project area including sourcing and supplying personnel, drilling equipment, dredges, mining equipment, logistics, exploration management, property camp, development office, administration support, exploration planning, program management, mapping, logging, drilling, a field laboratory, data compilation, data processing, interpretation of data, preparation of reports, assessment of exploration techniques, evaluation of programs, training of staff and coordination of field trips.
RiverRun Resources CEO, Jose Alirio Lenzi commented, “San Lorenzo has all the necessary social, environmental and mining experience required to assist RiverRun with the development of this tremendous opportunity. We intend to advance our Gold Sands exploration efforts immediately upon the completion and approval of a proposed 12-month work program by San Lorenzo and the necessary initial project financing has been secured.”
San Lorenzo has begun consulting with the people and communities in the area of Peru that may be affected by RiverRun’s proposed mining activities to help to identify ways to minimize the impact on the environment. San Lorenzo has engaged The Stocker Group, an international consulting firm with offices in Chile, Brazil, Colombia, Panama and Switzerland to anticipate potential issues before they arise and to work together with the local and federal communities to manage the environmental, political and social risks associated with developing the Gold Sands project.
The Stocker Group’s risk management services are sought by many leading companies, organizations and governments working throughout Latin America, Europe and the USA. They have experience in the start-up and ongoing management of large-scale and complex projects currently underway in 12 countries. In addition to completing an Environmental Impact Assessment, the Stocker Group has begun to carry out a Social Impact Assessment. This will acknowledge the interests of all stakeholders including the inhabitants who live in the district. It will determine relationships with the biophysical environment, historical background, population, political and social resources including the distribution of power and authority, local culture and attitudes toward the proposed project and any needs they may have including programs, reforestation, agricultural projects, job creation, school-building /education, public infrastructure and medical care.
RiverRun Disposes of Free-Market News Subsidiary
On September 3, 2008, RiverRun announced the company’s new corporate focus. As part of the company’s new focus on mining, we disclosed our intention to dispose of our sole media holding, Free-Market News Network (FMNN) and encouraged any interested parties to contact the company. This resulted in a single offer. Based on this offer, RiverRun has agreed to sell 100% of its shares of Free Market Acquisition Corp. to Palisade Press Inc. The agreed upon purchase price for the shares is one hundred dollars (US$ 100.00) and includes all lawful debts and obligations. RiverRun has made no representations or warranties regarding the amount of the liabilities or the assets of either corporation or their value. The buyer has completed its due diligence investigation and is fully and completely satisfied with the results of its investigation.
