NEWS!!! PEMBROKE PINES, FL, Jul 06, 2007 (MARKET WIRE via COMTEX) -- Siguiri Basin
Mining, Inc. (PINKSHEETS: SBMI) President, Launa Carbonell, regretfully
announces the termination of SBMI's agreement with Consolidated Mining and
Minerals (CMM). Through considerable due diligence over the past week, SBMI has
confirmed numerous unauthorized releases both inside information and incorrect
information of principals or agents of CMM. Additionally, information has come
into the hands of SBMI that indicates not all of the funds provided by SBMI to
CMM under their agreement were appropriately applied to the projects in West
Africa. This allegation is being thoroughly investigated for the benefit of the
Company and its shareholders. Finally, SBMI has been required to disassociate
itself with CMM after CMM's involvement in questionable press releases with
Pinksheets company, Hidalgo Mining. These releases caused very questionable
activity with the Hidalgo stock and CMM used the name of SBMI without
authorization or prior knowledge of SBMI. After further investigation, SBMI will
release all additional gathered information to the public on these subjects.
Within the coming week, SBMI will announce its future plans to continue its
efforts to achieve producer status in the industry.
Siguiri Basin Mining Inc. (PINKSHEETS: SBMI) is a mineral exploration and
development company focused on achieving producer status. The Company's is
currently in a joint venture with Consolidated Mining & Minerals Inc. and
targets are precious metal properties in stable countries within opportunity
rich West Africa, Haiti, North, Central and South America with near term
production capabilities. www.sbmining.com
The Private Securities Reform Act of 1995 provides a "safe harbor" for
forward-looking statements. Certain information included in this press release
(as well as information included in written statements to be made) contains
statements that are forward-looking. Such forward-looking information involves
important risks and uncertainties that could significantly affect anticipated
results in the future and, accordingly, such results may differ materially from
those expressed in any forward-looking statement.
For further information contact
Rich Kaiser
YES International
1-800-631-8127
001-757-306-6090 (outside North America)
Email: yes@yesinternational.com
SOURCE: Siguiri Basin Mining, Inc.
CONTACT: mailto:yes@yesinternational.com
Copyright 2007 Market Wire, All rights reserved.
-0-
SUBJECT CODE: Manufacturing and Production:Mining and Metals
