Replies to post #8286 on ZNext Mining Corporation, Inc (ZNXT)

[Jim Bishop]

90% Buy Back of Pearl Asian Mining Industries' Common Shares Will Be Automatic With The Exchange Date Effective June 15, 2006 ( BusinessWire )

MANILA, Philippines, Jun 12, 2006 (BUSINESS WIRE) --
Pearl Asian Mining Industries, Inc. (OTC: PAIM)
announced that the exchange date will be effective June 15, 2006, for
the company to buy back approximately 27,000,000,000 or 90% of its
issued and outstanding common shares using a convertible debenture.

After a lengthy meeting with NASDAQ, DTC and our transfer agent,
it had been confirmed that there is no X-Date or record date for this
buy-back exchange.

Pearl Asian Mining Industries had announced last month that the
record date for this action was June 1, 2006. However, no record date
is required. The exchange date is going to be automatic for all
shareholders holding common shares through DTC with the exchange date
to be June 15, 2006.

The Shareholders holding through DTC will not have to do anything
in this exchange, as this will be a mandatory exchange and
automatically done through the same process. A stop transfer will be
placed on shares outstanding on June 15, 2006, regarding shareholders
that fail to surrender 90% of their common shares for exchange on June
15, 2006. The stop transfer will not be released until those shares
are surrendered in exchange for the CDs.

The buy back rate is that for every common share surrendered,
Pearl Asian will pay $0.001, the par value of the common shares in the
form of convertible debentures, when held to the maturity of 5 years.
The CD is to be paid on the 5th year without interest. The debentures
can be converted back to common shares at a fixed rate of $0.01 per
share at any time on or before maturity, upon surrender of the CD to
the company or its transfer agent.

As an example, a shareholder owning 1,000,000 common shares will
keep 100,000 common shares and receive a CD with a face value of $900
due and payable in 5 years without interest. In this example, any time
during the 5 years, the holder will be entitled to convert that CD to
90,000 common shares.

Chairman of the Board, E. Pearl Asian, commented: "I am very
optimistic about the future of Pearl Asian Mining (PAIM). The company
is taking this calculated risk, going into long-term debt for the
first time beginning June 15, 2006. I am certain that when the
debentures become due and payable, the company's earnings will far
exceed the face value of this debt. Furthermore, I also believe that
this is the most creative and positive way of reducing the current
outstanding public float, thus avoiding the negative impact and effect
of a reverse split. We have to balance what is best for everyone
concerned, for all of our shareholders and for the company as well."

Forward-Looking Statements:

Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements in this release
include statements regarding the Company's projections regarding gold
production in future periods. The Factors that could cause actual
result to differ materially from anticipated results includes risks
relating to estimates of reserves, mineral deposits and production
costs; mining and development risks. The risk of commodity price
fluctuations; political and regulatory risks; risks of obtaining
required operating permits and other risks and uncertainties. Penny
Stocks are very highly speculative and may be unsuitable for all but
very aggressive investors. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as the result of new information, future events or otherwise.

SOURCE: Pearl Asian Mining Industries, Inc.
Pearl Asian Mining Industries, Inc.
Gary Gotanco, MBA, 866-732-7888 or 650-814-3268
or [phone]
E-mail: [e-mail]
Fax: [phone]
URL: www.PearlAsianMining.com
Copyright Business Wire 2006
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