Firma Holdings Corp. (FRMA)

[Sam Dan]

This may be the major move by management to really put FRMA on the right track
"
FIRMA HOLDINGS ANNOUNCES THE ACQUISITION OF IDS SMELTER AND JOINT VENTURE WITH MX GOLD CORP.

Through its subsidiary, GracePoint Mining Corp., Firma Holdings Corp. has acquired a controlling interest in the IDS smelter. The smelter will become a major component of the formation of GracePoint's new Durango smelter project. The project is located in what is known as the Golden Triangle in Durango, Mexico. The Durango smelter project consists of a past-producing smelter, engineered to recover gold and silver, along with various base metals.

In addition, GracePoint has entered in to a binding agreement with MX Gold Corp. to acquire a 50-per-cent interest in the Durango smelter project. The agreement calls for scheduled payments totalling $1,525,000; and, upon the project achieving a cumulative net operating cash flow of $10-million, a benchmark bonus payment of $2.5-million.

Francis Biscan, chairman and chief executive officer of Firma Holdings Corp., stated, "Having worked with MX Gold's technical team on our Magistral joint venture project, we are very pleased to have them involved with Durango."