Pearl Asian Mining Industries 'Operation Cagayan De Oro - CDO' Estimated An Initial Resource of 100,000 Metric Tons Of Gold Ore With An Average Grade Of Over 16 grams/ton of Au (Gold) From The Small Scale Pilot Mining Operation Tuesday July 25, 9:45 am ET
MANILA, Philippines--(BUSINESS WIRE)--July 25, 2006--Chief Mining Officer Cesar Rosales of Pearl Asian Mining (OTC:PAIM - News) reports: According to the assessment of Chief Geologist Reggie Selvano, he estimated an initial resource from this small scale operation of 100,000 metric tons of gold ore with an average grade of 16 grams/ton of gold (Au), using the 18 tons per day operation, 24 days per month at a very conservative figure of 90% Capacity with a 30% Overhead Cost per production. PRODUCTION ANALYSIS OF INITIAL SMALL SCALE PILOT OPERATIONS:
Average Gold Assay: = 16 grams / ton = 0.51 Ounces per ton (OPT) (Note: 31.10 grams = 1 ounce)
Estimated Plant Equipment Efficiency Production: (18 tpd ) (100 tpd) --------- --------- (use value of 90%) = 18 tons per day X .90= 16.20 TPD 90.00 TPD
0.51 OPT X 16.20 TPD = 8.26 Ounce per day (OPD) 45.90 OPD 8.26 OPD X 24 days = 198.24 Ounces per per month month (OPM) 1101.60 OPM
Estimated Price per Ounce = $600 per ounce 198.24 OPM X $600 = $118,944.00 / Month $660,960.00 / Month
Gross Production Amount Per Year : $118,944 X 12 months = $1,427,328 / Year $7,931,520.00 / Year
Net Profit After Cost = $999,129.60 / Year $5,552,064 / Year ------------------ ----------------- Consider a 30% ($1,427,328 X .30= ($7,931,520 X.30= Overhead $428,198.40) $2,379,456.00)
There are stockpiles currently derived from the exposed veins which are going to be the sources of gold ores that can give the immediate good income of the company once processed and in full production in August, 2006, even from this small scale production of 18 tons per day operation.
Please note that this is a very conservative figure of just 18 tons per day capacity of the gold processing equipment to be used, with the mid average of gold reserves at 16 grams /ton, priced @ $600 per ounce. As production becomes profitable, it will be easy to exponentially expand production output, using the inexpensive methods currently being employed.
This does not include potential income from refining the gold concentrates of local miners through Pearl Asian's controlled subsidiary, Philippines Gold Mining Corp. (PGMC), as Pearl Asian Mining Industries has envisaged to operate on a full capacity of up to 100 tons per day within the next 6 months of continues production.
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.
Contact: Pearl Asian Mining Industries Inc. Investor Relations Gary Gotanco, 678-570-6538 (US) or 1-310-728-6907 or 011 +63.2.490.0140 (Philippines) IR@PearlAsianMining.com Fax: (877) 317-4430 www.PearlAsianMining.com
-------------------------------------------------------------------------------- Source: Pearl Asian Mining Industries Inc. - Philippines
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