2nd pr
United Development International Acquires Mining Rights in Venezuela; Gold & Diamond Production to Begin Shortly
LAS VEGAS, Jan 19, 2005 (BUSINESS WIRE) --
United Development International (Pink Sheets: UDVE) has acquired rights to begin mining operations on the El Grillero mine, which is located on the Aro River in Venezuela, South America. The mine is currently producing gold at a rate of close to $60,000 USD per month. The company will expand this operation to include diamond recovery which will increase revenue capabilities.
United Development International is aggressively expanding its operations overseas. The company is striving to accelerate production in all of its properties.
The company is committed to increasing shareholder value. The management team behind United Development International is recognized for its ability to forge positive relations with mining partners and successfully acquire mining properties.
The current owners of the property in Venezuela recognize this and thus have awarded the production of this property to United Development International.
United Development International is quoted on NQB Pink Sheets as "UDVE."
CAUTIONARY STATEMENT: This news release may include forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act as amended, and/or the U.S. Private Securities Litigation Reform Act of 1995. All statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements that involve various risks and uncertainties. All forward-looking statements in this release are expressly qualified by this notice.
SOURCE: United Development International Inc.
United Development International
Staff, 250-319-3442
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