BOSTON, Aug. 14, 2009 (GLOBE NEWSWIRE) -- Gold Coast Mining Corp. (Pink Sheets:GDSM) announced today the following corporate update:
Today the Company filed its application and fee to Pink Sheets for the OTC Disclosure and News Service. This service will allow the Company to publish its financials and disclosure forms on www.pinksheets.com and is the first step in creating complete transparency for the shareholders.
Additionally, Gold Coast has received initial pro forma projections for the SunGold Mine. The projections are based on certain noted assumptions and are undergoing a final review by Western Sierra. The projections, along with assumptions and costs, can be viewed on the Company's corporate website. The Company's site is completed and now available at www.goldcoastminingcorp.com. The Company plans to make continuous revisions and updates to the site to keep shareholders informed of corporate developments.
Jason Cooper, Interim CEO of Gold Coast Mining Corp., stated, "Today is an exciting day for Gold Coast. The submission of our application to Pink Sheets and the finalizing of our website are two big steps for the Company's identity and transparency. The initial numbers on SunGold are very encouraging and we are extremely anxious to push the development plan forward."
As previously announced, Max Media Group has begun trading and a record date for the Max Media dividend has been set for August 31, 2009. The Company is preparing all required filings and documents for the distribution of the dividend. Max Media is finalizing tasks relevant to its transition to a publicly traded company and plans to begin updating shareholders shortly.
About Gold Coast Mining Corp.
Gold Coast Mining Corp. seeks to provide financing, equipment and finance related services to the mining industry. It is the Company's plan to pursue these opportunities through acquisitions and joint ventures with other mining concerns. The Company currently has a joint venture with Western Sierra Mining Corp. (Pink Sheets:WSRA) for its Ore Cache and SunGold Mine Projects located in the Prescott, Arizona area. Gold Coast has agreed to provide capital to WSRA to fund initial expenses to put each of the mines into production. Such initial expenses will include the construction of a hard rock free gold recovery plant. Gold Coast is a 50% revenue sharing joint venture partner in both projects.
The Company currently has 444,887,086 shares issued and outstanding.