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Salt Lake City — Salt Lake-based Inception Mining Inc. has entered into an agreement in principal with Crawford Cattle Company to acquire more than 16,000 net acres of mineral rights in Humboldt and Elko Counties, Nevada, approximately 70 miles north of Winnemucca, Nev. The acreage lies in or is adjacent to the Getchell Trend, which is part of the property now under contract to be purchased. Assuming due diligence and other covenants are satisfied, the acquisition is expected to close no later than the second quarter 2014.
"We believe the lands to be acquired are deemed highly prospective given their general location in the Getchell Trend,” said Inception CEO Michael Ahlin. “Specifically, we are under contract to acquire sections of lands that are adjacent to the Turquoise Ridge Property, the Pinson Mine and a lesser amount of acreage near the Midas Gold Property. The Turquoise Ridge Property is a joint holding of Barrick Gold Corporation and Newmont Mining Corporation."
At this stage, the Company has not determined or committed to a plan of development and is just beginning its resource evaluation.