ZNext Mining Commemorates Receipt of SSSMP and Commencement at XYZ Masbate Gold Project
Thursday April 24, 9:28 am ET
Update on XYZ Masbate Gold, GANGO Gold Rush, Bukidnon & Binasan Gold Projects, Iligan City, Restricted PROL Stock Dividends Update
SAN JOSE, Calif.--(BUSINESS WIRE)--ZNext Mining Corporation, Inc. USA (OTC Common:ZNXT) (OTC Preferred:ZNXTP); GERMANY (Xetra:R1z.DE) (Frankfurt:R1z.F) announced the receipt of the Company’s Special Small Scale Mining Permit (SSSMP) Certificate earlier this week and marking the commencement of the Company’s field work at the XYZ mine site. “We wish to express our gratitude to the ZNXT shareholders for all your patience,” said Jason Piamonte, CEO.
XYZ Masbate Gold
XYZ has always been the Company’s most promising gold project. Various studies and samples were gathered and tested and have indicated an abundance of gold mineralization. The XYZ Masbate Gold is a Pre-World War II gold mining property that contains high grade gold ores having an average of approximately 90.37 grams per ton of gold and 533.6 grams per ton of silver. After installation of 100 ton per day (tpd) carbon in leach (CIL) gold processing plant, expandable to 250 tpd, ZNXT expects to process a conservative average of 15 grams of gold per ton of ores per day and can produce an estimated 3,750 grams of Gold or 120.57 troy ounces of gold per day. Engineers are currently completing the design for the plant, which must be reviewed by Philippine administrative authorities. The Company estimates that following final approval of the design, the plant can be constructed in approximately 90 days from start to finish.
In 1997, a Canadian consultant recorded the results of exploration and feasibility study showing the following: Estimated Monthly Revenue at the value of US $600.00 per troy oz. (a) 120.57 troy oz. X $600.00/oz. = approximately US $72,342.00 per day (b) Estimated Yearly Gross Revenue: $72,342.00 per day X 269 days per year only = USD $19,459,998.00.
In 2005, the Company engaged a professional geological consultant, who performed two weeks of exploration and evaluation studies on the presence of gold deposits and reserves that covered 72 hectares. During those periods, 20 kg of gold ores were also sent to a concentrator and laboratory in British Columbia, Canada, for third-party evaluation, analysis and confirmation of the ore samples done locally in the Philippines. Copies of these reports may be viewed by qualified investors in person at ZNext’s USA corporate offices, through special arrangement with the Company’s chief executive officer. Arrangements may be made by contacting the following:
ZNXT Mining Corporation, Inc.
ATTN: Jason Piamonte, CEO
5669 Snell Ave. #128
San Jose, CA 95123
email: admin@znextmining.com
ZNext’s President and Chief Mining Engineer are working diligently toward the completion of the ECC (Environmental Compliance Certificate) requirements for the Company’s MPSA (Mineral Production Sharing Agreement) on the XYZ. The MPSA Application, which was submitted in the DENR-EMB Region V (environmental administration office) since 2004, consists of the following: APSA-000320-V, covering the Area of 752 hectares or 1,857 acres and 1,100 hectares (2,717 acres) of land for our Exploration Permit Application - EXPA-000041-V, covering the Area of 1,128 hectares or 2,785 acres. We have extended our Special Small Scale Mining Permit (SSSMP) Certification on 20 hectares (49 acres) for immediate exploration and operation of the XYZ Mineral Deposits. “Of vital importance, the local host communities have pledged their support to the success of the project,” said Piamonte.
GANGO Gold Rush-Bukidnon
Working in tandem with various indigenous tribes on the island of Mindanao, Vice Chairman Manolo Tecson was invited on April 16 as the keynote speaker in Bukidnon Province to address the community and local government units (LGU) regarding ZNext Mining policies on environmental and natural resources protection and development. Tecson explained to the LGU and community the Company’s social development program in Binasan and our successes to date in building the community infrastructure.
Mr. Semion Angcot, the Municipal Environment Resources Officer of the DENR, has requested PAMI-ZNext to enter into a Memorandum of Agreement (MOA) with the agency and the municipality to share the expertise of technical personnel for the protection of the watershed area in their own Bukidnon province. Officials visited the Company’s CDO office to finalize some of the proposals, and in particular to review the tree planting and other environmental protection measures for the area throughout the contemplated projects.
Tecson emphasized that a harmonious and friendly relationship with the host communities, the municipality and the local government units will help strengthen the Company’s presence in the mining business on the Island of Mindanao for years to come.
“At long last, we are enthusiastically moving forward on XYZ development after overcoming numerous obstacles, which seem to be typical in the industry and yet unique to doing business in Southeast Asia,” said Piamonte.
SPECIAL NOTE CONCERNING “PROL” RESTRICTED STOCK DIVIDEND:
The restricted Philippines Royal Oil & Alternative Energy Co., Inc. common stock dividend certificates issued to ZNext Mining Corporation (f/k/a Pearl Asian Mining Industries) shareholders of record as of February 26, 2007 for one year restriction per SEC Rule 144 has been fulfilled as of April 2, 2008. In order to effect free trading in this security, the removal of the restriction legend is necessary. Please observe the following:
1) Send the original certificate for legend removal;
2) Remit a check for the processing fee payable to AGN Associates & Stock Transfer Services, LLC ($25 to cancel and $25 each certificate for free-tradeable certificate);
3) Mail the original certificate along with the check and self-stamped, self-addressed return envelope via traceable manner (FedEx, UPS, Certified Mail) to:
AGN Associates & Stock Transfer Services, LLC
5431 Auburn Blvd., #178
Sacramento, CA 95841
ABOUT THE COMPANY
ZNext Mining Corporation, Inc. is an international mining Company engaged in the exploration and commercialization of new and underdeveloped mine sites, primarily gold and other precious and strategic metals. Twelve (12) mining claims in British Columbia, Canada are owned 100% by ZNext Mining. Additionally, under a Philippines Mineral Production Sharing Agreement (MPSA) with the government of the Republic of the Philippines, ZNext Mining owns 40% of the Pearl Asian Mining Industries, Inc., a Philippines domestic private corporation, that through aggregation of manpower and production among small-scale miners and indigenous peoples, intends to capitalize on economies of scale in gold and silver extraction, processing and commodities selling and trading. ZNext Mining Corporation, Inc. is committed to the implementation of sustainable green technologies to achieve fiscal strength based on the principal of Profit-People-Planet. Management continues to focus on achieving profit, while conducting business with utmost consideration and compassion for people and protection of our planet and the environment.
FORWARD STATEMENTS:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: ZNext Mining Corporation, Inc.
Contact:
ZNext Mining Corporation, Inc.
Investor Relations:
Jordan Richard Assoc. LLC
Madeleine Franco, 702-256-4905
ir@jordanrichard.net
www.ZNextmining.com
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Source: ZNext Mining Corporation, Inc.
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