Wits Basin Precious Minerals Inc. (OTCBB:WITM) is pleased to provide the following update regarding the Bates Hunter Mine, a gold mine the Company owns in Central City, Colorado. In February 2008, the Company communicated plans to consider a gold strategy. Further to that announcement, we have created a Colorado gold division named Standard Gold of which Wits Basin will be the majority shareholder. At the Bates Hunter Mine, we have begun calculations on blocking, identifying and exploring ore and ore grades according to the NI 43-101. We are also positioned to begin due diligence in order to establish our own concentration facility
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