DALLAS, Oct. 19, 2010 (GLOBE NEWSWIRE) -- LIG Assets, Inc. (LIGA) (Pink Sheets:LIGA), with its focus for acquiring undervalued assets, has purchased 50% of Red Arrow Mining Company's (RAMCO) stock. The San Juan Mountains, where RAMCO has their gold claims, has historically produced commercial grade gold, silver ore and other minerals.
Goldman Sachs forecasts gold prices to rise above $1,650 in the next 12 months, an increase of over 20%, with gold futures projected to continue to increase. LIGA is poised to take advantage of gold's current and future projected profits from their recent acquisition. "Our investment and the changes we are putting in place in the coming weeks will position LIGA to increase the output of the precious metals that the area is known for," states Jeff Love, President and CEO of LIGA.
RAMCO, the owner of over 1,240 acres of mining claims near Mancos, Co., will soon commence a drilling program to prove up gold reserves within the next few months. Once completed, the NI-43-101 report will be filed.
RAMCO, with LIGA's assistance, is evaluating the purchase of other mining claims and operations in the vicinity.
LIG Assets, Inc., established in October 2008, has frequently dealt with risk-enhanced investments and produced high profit turnover. According to Mr. Love, LIGA is also preparing to close on an oil and gas project before the end of the year.
Additional information will be made available soon.
About LIG Assets, Inc.
LIG Assets, Inc. (Pink Sheets:LIGA), a development stage company, focuses on income-producing opportunities in the real estate, minerals, oil and gas, and distribution sectors. The company acquires, rehabilitates and sells commercial and residential real estate, providing second chance opportunities for home buyers and restoring structures to help promote growth in the economy. LIG is also a production company focused on exploitation and is committed to employing technical and operational expertise in the geologic trends generating hydrocarbons for a demand-driven market while acquiring new concessions. In addition, LIG owns 51% of Jones Products Company, developer of Simple Step CPAP mask cleaner, a gentle, odorless disinfectant for the masks of CPAP (continuous positive airway pressure) machines. For additional information, please visit LIG Assets corporate website:
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. Those statements include statements regarding the intent, belief or current expectations of LIG Assets Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
CONTACT: LIG Assets, Inc. 214-760-1000 www.ligassetsinc.net