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Hidalgo Mining (HMIT) Announces the Purchase of a 250-Yard per Hour Production Plant

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Market Wire
10:11 a.m. 02/04/2008


NEW YORK, NY, Feb 04, 2008 (MARKET WIRE via COMTEX) -- Hidalgo Mining International (PINKSHEETS: HMIT), an innovative mining company headquartered in Port Washington, N.Y., announced today the purchase of additional mining equipment for production in West Africa.

Mark Daniel Klok, President of HMIT, stated: "Mining equipment, including a 250-yard per hour mobile wash plant, has been purchased to implement full blown commercial production on the Guinea property. This new piece of equipment increases our capacity by five times what we were capable of handling with our previous wash plant. The company has made plans to have this equipment transported to the seaport in North Carolina where it will be prepared for shipment to the Guinea Property this month. There are several tested alluvial mining locations that are expected to have grades ranging from 1-8 grams per yard, based upon previous testing and sampling. With the price of Gold today above $US 920 per ounce, that comes out to over $US 28 per gram. This would mean that if the plant were to run at full capacity, the gross income would be approximately $2,000,000 at one gram per yard and over $US 16,000,000 per month at eight grams per yard, based upon a 12 hour workday. The purchased mobile wash plant was custom built by the original owner who spent over one million dollars on the research, development and fabrication of this large placer mining system. We have also recently purchased two CAT 350L excavators, a D-8 six-way tilt blade bulldozer, a 50-ton dump truck, a CAT 950 wheel loader, a 50-ton lowboy trailer, one 5 x 30 Clay Scrubber Barrel with Hydro Power Plant, one 8ft. x 40ft. Sluice Box, four Neffco bowls, four custom built 48" x 48" Horizontal Duplex Jigs, two Hy G Bowls, one Placer Dewater System Device, and assorted conveyors, pumps, hoses and spare parts."

Klok went on to state: "We have just deployed six senior mining personnel to Guinea to prepare the equipment and site for production. We are very excited to begin production and to have purchased the equipment necessary to launch full-scale production. I anticipate 2008 being a fantastic year for HMIT and our shareholders. This equipment will significantly increase our originally anticipated level of production and catapults the company into a completely different league of output once we begin actual production."

ABOUT HIDALGO MINING INTERNATIONAL

Hidalgo Mining International (PINKSHEETS: HMIT), an innovative mining company headquartered in Port Washington, NY, strives to increase shareholder value, while implementing aggressive plans to continue targeting near term mining production projects on a global scale. HMIT's management, directors, and advisors hold an abundance of experience and knowledge in this rapidly growing industry.

Disclaimer:

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

The results described herein cannot be guaranteed. The development of any and all of the subject mining claims stated herein are contingent upon multiple high risk factors that must be successfully dealt with in order to achieve the intended results. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. These expectations and assumptions are subject to risks and uncertainty, which could affect Hidalgo Mining Internationals' future. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Hidalgo Mining International to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. Hidalgo Mining International undertakes no duty to update any forward-looking statement(s) and/or to conform the statement(s) to actual results or changes in Hidalgo Mining International's expectations.

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Contact: Mark Daniel Klok Hidalgo Mining International [phone] http://www.hidalgominingint.com/


http://www.hidalgominingint.com/


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