NEWS!!! (BSNS WIRE) CMKM Diamonds, Inc. Announces the Success of Its Integrated Busin
ss Plan Goes Into Effect in Ecuador
CMKM Diamonds, Inc. Announces the Success of Its Integrated Business Plan Goes I
to Effect in Ecuador
Business Editors
PORTOVELO, Ecuador--(BUSINESS WIRE)--Oct. 19, 2004--
CMKM Diamonds, Inc. (Pink Sheets:CMKX) headed by its CEO
Urban Casavant and his advisory team accompanied by the company's SEC
attorney Roger Glen successfully concluded the major ownership
acquisition of the established American Mine here in Portovelo today.
CMKM Diamonds and its operating partner Minera Nevada SA a subsidiary
of Nevada Minerals, Inc. of Las Vegas, Nevada will manage a major
corridor of gold production inside this region. The current yield
coming through the American Mine is 40 tons of gold ore on a daily
average. Alejandro Diaz, president of Minera Nevada SA exclaims,
"Within the next 6 working weeks the production will raise to a steady
80 tons of gold ore per work day as we start our second shift of
underground mining team." Diaz continues, "All will be done to ramp
the mining production to complete our obligations to Yellow river and
US Canadian Minerals, Inc. for their addition of two additional mills
to Yellow River and the new production facility of the Buza coming on
line over the next 90 days to build up to 300 tons of gold ore
processing per day to satisfy the volume increase of the American Mine
build up of production."
The advisory team had members from legal, accounting, operations
and feasibility to assess all probabilities on expansion and further
development of other opportunities from CMKX, UCAD, and Nevada
Minerals. The team was introduced to the on ground executive team that
will lead the way through the start up phase one process. US Canadian
Minerals CEO Rendal Williams explains, "UCAD has considerable time and
dollars invested here in South America, especially Ecuador. We believe
there is a major shift of technologies that this region has been
starving for and we as UCAD plan to lead the way and share this
knowledge with those who wish to expand their current ore production."
The American Mine sits inside the Zaruma-Portovelo Mining
District. This district has a recorded historic production of more
than 4.5 million ounces of gold and 19 million ounces of silver, as
well as significant tonnages of copper, zinc and lead concentrates.
The American Mine located in Portovelo, Ecuador consists of a 100
ton hoist system that will from up to the depth of one of its 13
levels, deliver gold ore to the surface to a 35 ton drop shoot that
will be supported by a jaw crusher and a cone crusher to minimize
processing time for expedited production flow at the Yellow River
Processing Plant. Urban Casavant CEO of CMKX said, "Through the
combined efforts of all the parties in this venture we have gathered a
new frontier for the well being of our shareholders and company alike.
The company will be moving rapidly into a revenue model here in the
fourth quarter."
There is no guarantee that further exploration or drilling will
produce any economic benefit to the company or the shareholders of the
company.
This press release contains "forward-looking" statements as that
term is defined by Section 27A of the Securities Act of 1933 (the
"Securities Act"), as amended, and Section 21E of the Securities
Exchange Act of 1934 (the "Exchange Act"), as amended. All statements
that are included in this press release other than statements of
historical fact are "forward-looking" statements. Although management
believes that the expectations reflecting in these forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. Important factors could
cause actual results to differ materially from the expectations as
disclosed herein, including without limitation, in conjunction with
these forward-looking statements contained in this press release.
KEYWORD: NORTH AMERICA SOUTH AMERICA NEVADA UNITED STATES CANADA ECUADOR
INDUSTRY KEYWORD: MANUFACTURING NATURAL RESOURCES ENVIRONMENT MINING/MINERALS
SOURCE: CMKM Diamonds, Inc.
CONTACT INFORMATION:
CMKM Diamonds Inc.
Diamonds Hotline:
Melvin O'Neil, 306-752-3755 or 877-752-3755
Fax: 306-752-3754
*** end of story ***
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