August 16, 2021 – Las Vegas, Nevada – El Capitan Precious Metals, Inc. (OTC/QB: ECPN) Chairman Doug Sanders confirmed today that the pending appeal filed by former Board member Danny Martinez has been dismissed by the Supreme Court of the State of Nevada.
Sanders stated that “as I bring this Business Update to you today, I can’t help but remember the email I received a month or two ago from a very disgruntled shareholder who warned me that I was ‘creating a lot of legal issues for ECPN’ and that I should ‘just wait for the Supreme Court decision, and we’ll have Danny back in charge.’” As of August 12, 2021, the Supreme Court of Nevada has dismissed Danny Martinez’s appeal. The court ruled that “the appellant did he seek to intervene” and “is not a party with standing to appeal.” And that, “accordingly, because this court lacks jurisdiction, we ORDER this appeal DISMISSED.”
According to Sanders, “It’s been nearly 10 months of Danny’s attempts to thwart our forward progress—by seeking to void the court order to hold an election, stopping the election, voiding the election results, appealing the court’s decisions when his motions and appeals were dismissed… and, finally, this last Supreme Court appeal. If he and his fellow Board members had only put that much effort into initiating rather than stopping forward progress, ECPN might not be in the dire straits in which we find ourselves today.”
“The bottom line,” said Sanders, “is that we have, once again, a court-ordered mandate so we can confidently move on—at last.”
On that note, Chairman Sanders reports that communications with and coordination efforts among several entities are in progress related to multiple production components ranging from foreign and domestic buyers for iron ore and PMs (Precious Metals), mining operations, rail services, trucking, and ocean freight carriers. “With iron prices hitting near all-time highs in the past months, I am optimistic that our timing may be very good in pursuing options for generating cash flow,” stated Sanders. He will continue to report updates on progresses via Business Updates to the El Capitan
Other areas on which Sanders has focused his attention include paying annual mining claim permit fees on the New Mexico property so that they are not lost and addressing the three years of delinquent real estate taxes due on the house at the mine site.
“This all takes money,” said Sanders, “and we should all be grateful to the shareholders who have stepped up with financial contributions that have helped with legal fees, permits, and basic operating expenses.” He added: “I have told these contributors that, when we have cash flow and profitability, they will be generously reimbursed.” Sanders has made a commitment to ECPN to cover critical expenses personally, if needed. “We cannot—and will not—lose our claims on my watch,” he stated.
About El Capitan Precious Metals, Inc.:El Capitan Precious Metals, Inc is an operational company incorporated in Nevada that is principally engaged in the mining of iron ore and the subsequent recovery of valuable minerals. Company’s primary asset is the 100% equity interest in El Capitan, Ltd., an Arizona corporation that which holds an interest in the El Capitan property located near Capitan, New Mexico.
Forward-Looking Safe Harbor Statement:
The statements included in this business update concerning predictions of economic performance and management’s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding the expected completion, timing and results of metallurgical testing, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and expectations with respect to the engaging in strategic transactions. All of such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Specifically, there can be no assurance regarding the timing and terms of any transaction involving the Company or its El Capitan property, or that such a transaction will be completed at all. In addition, there can be no assurance that periodic updates to the Company’s geological technical reports will support the Company’s prior claims regarding the metallurgical value and make-up of the ore on the New Mexico property. Additional risks and uncertainties affecting the Company include, but are not limited to, the possibility that future exploration, development, testing or mining results will not be consistent with past results and/or the Company’s expectations; discrepancies between different types of testing methods, some or all of which may not be industry standard; the ability to mine precious and other minerals on a cost effective basis; the Company’s ability to successfully complete contracts for the sale of its products; fluctuations in world market prices for the Company’s products; the Company’s ability to obtain and maintain regulatory approvals; the Company’s ability to obtain financing for continued operations and/or the commencement of mining activities on satisfactory terms; the Company’s ability to enter into and meet all the conditions to consummate contracts to sell its mining properties that it chooses to list for sale; and other risks and uncertainties described in the Company’s filings from time to time with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.