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Spectrum Acquisition Holdings, Inc. MonitoringDrafting of Environmental Impact Report on Dredging in California

^{Published on 2011-05-27 05:40:58 - Market Wire}
 

AUSTIN, Texas--([ BUSINESS WIRE ])--Spectrum Acquisition Holdings, Inc. (Pink Sheets: SPAH), a growing mining exploration, technology and services organization, is following developments of gold dredging regulations in California.

A moratorium on dredging for gold in California rivers and streams has been in place since August 2009 when SB 670 was signed into law by then Governor Schwarzenegger. Senator Ted Gaines, R-Roseville, proposed a bill that would have ended the moratorium which died in committee last month.

The California Department of Fish and Game (CDFG) has been working on changing the regulations and has requested public comments. The CDFG is developing a new set of rules to control suction dredge mining in the state's rivers and streams. A draft Environmental Impact Report was drafted in February 2011. It lays out where and when dredge mining can be done, with what equipment, and which species are considered at risk in which streams. The final public comment on this matter was held on May 10, 2011 in Sacramento.

Supporters of the ban claim that it is damaging to fish spawning while the critics say it helps remove harmful mercury from the streams and rivers.

Spectrum Acquisition Holdings has a vested interest in the outcome because of its unpatented gold claim on the South Fork of the Salmon River.

About Spectrum Acquisition Holdings, Inc. (SPAH.PK)

Spectrum Acquisition Holdings is executing a three-pronged strategy for growth. The Company is acquiring interests in high quality, low-risk gold projects with past production and sizeable resources. Spectrum is developing technology solutions to enable more sustainable, smaller footprint mineral exploration, production and processing. Spectrum is also pursuing acquisitions of mining sector service companies including operators, mine site service providers, equipment manufacturers, geology firms and technology developers.