PAIM News (BSNS WIRE) US Shareholder Visits A Small Scale Mining Operation In Masbate,
aracale & Cagayan De Oro Gold Mine Sites - To See the
US Shareholder Visits A Small Scale Mining Operation In Masbate, Paracale & Caga
an De Oro Gold Mine Sites - To See the Gold Production, Pearl Asian Mining Repor
s
Business Editors / Mining Editors
MANILA, Philippines--(BUSINESS WIRE)--Aug. 18, 2006--
Pearl Asian Mining Industries, Inc. (OTC:PAIM) reports:
Richard C. Miller, a USA Shareholder, visited a Small Scale Mining
Operation in Masbate, where XYZ mining site of Pearl Asian Mining is
located. Mr. Miller spent at least 2 weeks in the Philippines visiting
Masbate, Cagayan De Oro and Paracale gold mine sites. Mr. Miller
personally handed out humanitarian goods mostly to the poor children
of the host communities, while he was guided by Engr. Gary Gotanco,
VP/IR Officer of Pearl Asian Mining.
Furthermore, the gold processing equipment from China was released
from Customs on August 18th. Said equipment is in the process of being
delivered by HW Express (Customs broker) to Power Express (freight
forwarder), for estimated departure Manila Sunday (Aug 20) morning,
arriving Cagayan De Oro, Monday (Aug 21) evening, for delivery the
next day.
"According to Engr. Elvis Hidalgo, Chief Metallurgist, the
delivery point is Cauyunan (where there is a helipad), from where the
cargo will be transported by helicopter to Binasan Gold mine site.
Engr. Hidalgo has obtained quotation for commercial helicopter and
military helicopter to ferry the 2.5 metric ton cargo as soon as the
equipment arrives next week," reports Engr. Gotanco.
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.
AI
