NEWS CAGI(0.006) CA Goldfields finalizes infrastructure to begin operations on its gold property
COMING UP ON ONE YEAR!!!!!!!!!!
Friday, May 02 2008 12:42 PM, EST PR Newswire "US Press Releases " TORONTO , May 2 /PRNewswire/ - CA Goldfields Inc. (OTC:CAGI.PK) is pleased to announce its has begun operations on its gold property in Nicaragua , called La Curva. The Company will start construction of the working/staging area for the accumulation and eventual processing of the gold brosa (ore that contains gold deposits). This working site, called a galleron, will be constructed at a strategically located site on the property. It will be selected by the Company's geologist, Mr. Glen Hodgson Dvalrey and his staff of mining engineers/consultants. All of the machinery for the processing of the gold brosa will be located on this site. Site selection will be in close proximity to the gold veins in order to facilitate easy transportation and accumulation of the gold brosa.
The mining equipment required for this processing site, has been identified and configured by the Company's consultants, and will be sourced in the US and locally from Nicaragua . Contractors are being selected for the required construction. All necessary permits and government approvals have been filed by our local legal consultants, who have over 30 years experience in this field.
CA Goldfields has assembled a highly experienced team of mining personnel, headed by a noted local geologist, Mr. Glen Hodgson Dvalrey. This will result in an efficient and successful mining operation.
It is not only CA Goldfields' intention to mine and process the gold brosa contained on its own mining property, but to also to process gold brosa brought to its galleron from other local miners. CA Goldfields will share revenues with these local miners, but this will ensure a continuous supply of gold brosa for processing. CA Goldfields will purchase extra grinding mills for this purpose.
The Company will expand its mining operations by entering into joint venture agreements with local miners and landowners, with known gold deposits on their properties, in order to increase its gold production and output. Because of the Company's local contacts, the Company has noticed an opportunity to swiftly increase its gold production and output by financing these local miners and mechanizing their mining operations for a share of gold production. This is a cost efficient and extremely profitable way to expand its mining operations. The Company eventually intends to have numerous gold processing sites, equipped with mills and other essential gold processing machinery to ensure the efficient and smooth operation of these joint ventures.
The property has a terrestrial expansion of approximately 2,000 acres and is located in Bonanza, a mining district that forms part of the world famous Golden Triangle of Nicaragua . The District of Bonanza has been a major contributor to the gold production in Nicaragua
CA Goldfields currently has 237,000,000 shares outstanding. The transfer agent is Transfer Online of Portland, Oregon . The company will be launching a new corporate website shortly with pictures of its La Curva property and keep shareholders updated on the development of operations in a timely manner.
This press release contains "forward looking" statements within the meaning of Section 21A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 as amended, and are subject to the safe harbors created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors discussed in New Wave Media Inc. reports that will be on file with the US Securities and Exchange Commission .
SOURCE CA Goldfields Inc.
