Sierra Iron Ore Corp. Initiates Legal Action Against A Neighboring
Company to the Mazomique Property
Symbol:-TSX-V:NAA
OTCQX:SIOCF
VANCOUVER, Jan. 8, 2013 /CNW/ - SIERRA IRON ORE CORP (the
"Company") in conjunction with "Aztec Zinc de Mexico S.A. de C.V"
has initiated legal action against a neighboring company that owns
and operates a mine on adjacent property to the recently optioned
Mazomique property that is located south of the El Creston
property.
The legal action claims that the neighboring
company has illegally crossed the property lines and has been
operating and extracting iron ore from the Mazomique property for
resale into the market. Sierra Iron
ore has engaged the law firm of Sepulvedia Longoria for legal
representation. The legal action initiated by Sierra Iron Ore is intended to gain a court
ordered cease and desist order for any further mining operations
conducted by the neighboring company on the Mazomique property. The
legal action is also pursuing the injunction and seizure of any
iron ore that has been stockpiled near the mining site or staged at
the Port of Topolobampo.
Additionally, the legal action is also seeking criminal charges
against the principals of the neighboring company and any other
parties responsible for this alleged criminal act.
On June 18, 2012,
the company announced that it has entered into an agreement (the
"Mazomique Agreement") with Aztec Zinc de Mexico S.A. de C.V. (the
"Owner"), an arm's-length party, to acquire up to an 80% interest
in a highly prospective iron ore property (the "Mazomique
Property") comprising of one concession covering an area of
3,055.27 ha near the northeast boundary of Sinaloa and Chihuahua states.
"We are vigorously pursuing all legal remedies
and will aggressively defend and protect the company's assets,"
stated Wally Boguski, President and
CEO. "We are working with the local court and government
authorities at the local, state, and federal levels and expect full
cooperation with a speedy favorable resolution to our legal
claim."
About Sierra Iron
Ore
Sierra Iron Ore is a growth focused
mineral exploration company creating value through the exploration
and development of the El Creston property located in the Sinoala
State of Mexico. The company has a continual fieldwork program at
the El Creston Property that is comprised of drilling, mapping,
sampling and planning for further property development. Roads have
been built and upgraded as well as equipment has been mobilized for
further developing the known magnetite zones identified by recent
exploration work.
Sierra Iron Ore
also has 100% ownership of the Tom Cat property which is located
200 kilometres east-northeast of Vancouver within the historic Aspen Grove copper camp. The company is
currently conducting an exploration program of geological mapping
and sampling program as a prelude to a planned diamond drill
program.
On behalf of The Board of Directors of
Sierra Iron Ore Corporation.
Paul Lee,
Director
This news release contains certain forward
looking statements which involve known and unknown risks, delays,
and uncertainties not under the control of Sierra Iron Ore Corp.
which may cause actual results, performance or achievements of
Sierra Iron Ore Corporation to be materially different from the
results, performance or expectation implied by these forward
looking statements. Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release, which has been prepared by
management
SOURCE Sierra Iron Ore Corporation