MINDENAO GOLD MINING (fka MDGM)

[SPARK]

So they are walking away from the incredible opportunities in the Philippines???

2005-11-03 09:00:21
Mindenao Gold in Negotiations to Acquire Rich Gold Mining Interests in Venezuela


MANILA, PHILIPPINES -- (MARKET WIRE) -- 11/03/05 -- Major Shareholders of Mindenao Gold
Mining (OTC: MDGM) and a private investment group are currently negotiating
the acquisition of a substantial gold property in Venezuela. The Grand
Pacaraima Gold property is located in Southern Venezuela near the borders
of Brazil and Guiana. This concession was granted in 1981 for 40 years at
3500 meters long by 3000 meters wide or approximately 4 square miles.
Reserves have been estimated at $580 million based on 80.86 grams per ton
or 2.6 troy ounces per ton. Concession, exploration and development
agreements have already been executed on the principal mine. There are five
different strike zones that have been sampled on the elevated volcanic
igneous property plus three other potential mining sites nearby.
Development of the mining property located in the State of Nueva Esparta
will be commenced with a core sampling analysis. One of Latin America's
leading finance companies specializing in mining development is expected to
participate in the development program. Based upon completion of the
transaction Mindenao Gold Mining would propose a name change and
discontinue any future development program in the Philippines.





Further Information About Mindanao:
Mr.Dodong Abelino
Mindanao Liason
Email Contact
23352175