Bullion Monarch Mining, Inc. Updates on Proceedings
St. George, Utah February 11, 2011 - Bullion Monarch Mining Inc. (OTCQB:BULM) updates information on its Carlin Trend area of interest litigation against Newmont, U.S.A. (Newmont) and Barrick Goldstrike Mines, Inc. (Barrick).
A summary judgment ruling was previously granted in favor of Newmont, (earlier discussed in a press release dated September 10, 2010) and a reconsideration of that ruling by the U.S. District Court for the District of Nevada was denied. In similar litigation against Barrick, the court ruled in favor of Barricks motion for a summary judgment pursuant to the rule against perpetuities.
After careful consideration, Bullion Monarch management has decided to appeal, to the Ninth Circuit Court of Appeals in San Francisco, both the laches summary judgment in favor of Newmont and the summary judgment in favor of Barrick by the District Court of Nevada.
This dispute does not affect Bullion Monarch Minings Carlin Trend royalty on which Newmont continues to pay production royalties.
Bullion Monarchs President James A. Morris comments, We are disappointed that this court ruled on apparent technicalities in the law, and we hope to be given the opportunity to present the simple facts of the case.
About Bullion Monarch Mining
Bullion Monarch Mining Inc. is a publicly traded (OTC:BULM (FRA:BMJ)) gold-focused royalty company with additional interests in oil-shale technology. The Company is engaged in a continual review of opportunities to create growth through developing new royalties or participating interests by financing mine development or exploration. The majority of current royalty revenues are derived from a high-quality claim block located in Northeastern Nevadas Carlin Trend. Bullion Monarchs portfolio provides for direct leverage to commodity prices as well as the exploration potential of world-class ore deposits. Visit the Company website at www.bullionmm.com for more information.
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