Pearl Asian Mining Industries, Inc. Reconfirms Significant Gold Reserves Discovery
Manila, Pasig City, Philippines, 02/02/2005, Pearl Asian Mining Industries, Inc. (OTC: PRMN), a diversified mining company with assets and operations on two continents, today announced that it has recently tested rock samples collected from its trenches & tunnels in the XYZ Mining Claim in the Philippines. Rock samples collected from Trench #3 showed the highest metal content with values to generate an approximate yield range of 37.36 to 94.20 g/t (grams of gold per ton) and 242.57 to 608.48 g/t (grams of silver per ton) in its Baleno Mining Property as it moves forward in its operations.
“Our senior engineers extracted assay samples from approximately 72 hectares of land, consisting of 3 samples from Tunnel 4 & 4 samples from Trench 3 with an average yield of 20.58 g/t of Gold, 125.24 g/t of Silver ppm and 53.76 of Copper ppm on our Baleno Mining Property. We anticipate to process from 30-50 tons per day production within the next 180 days, as long as we are on schedule,” said E. Pearl Asian, the Founder/Chairman of Pearl Asian Mining Industries, Inc. “We do not want to overstate our potential upside as relates to these findings, as we still need to raise an estimated $1.5M in working capital for our equipment purchases and operational expense to extract these gold reserves. We remain committed to optimizing our production profile while maintaining our focus on capital discipline to maximize our returns for our investors.”
About Pearl Asian Mining Industries, Inc.
Founded in the fall of 2003 by visionary E. Pearl Asian, Pearl Asian Mining Industries, Inc. is focused on discovering and accessing valuable mining properties that have not been developed to their fullest potential in years past. The company is operational on two continents at present, Canada and the Philippines. The company is committed to optimizing its production profile while maintaining its focus on capital discipline to maximize returns for its investors. Pearl Asian Mining is building a company that recognizes the environmental safety, health and humanitarian needs of the communities in which it operates and seeks to invest resources back into the local communities where it is operational. For more information please contact: Ms. E. Pearl Asian, Founder/CEO, Pearl@pearlasian.net, 604.688.9589, 3030 T.D. Bank Tower, 700 West Georgia Street, Vancouver, British Columbia, Canada V7Y1A1, www.pearlasianmining.com.
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company’s current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company’s publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.
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