ZNext Mining Increases Authorized Shares in Anticipation of XYZ Gold Mill Processing Plants and Development of Additional Proper
14 Mayo 2008 - 11:41AM
Marketwired
MANILA, PHILIPPINES (OTC Preferred: ZNXTP) (XETRA: R1z.De)
(FRANKFURT: R1z.F) announced that after the first quarterly Board
Meeting, the company's board of directors has resolved to increase
the Company's Common shares to 40 million, concurrently increasing
its authorized Common shares as it looks toward development of the
XYZ Masbate Gold and the Company's Canadian holdings. Near-term
projects include the installation of a 100 metric tons of gold mill
plant with copper floatation device, installation of on-site
metallurgical laboratory, construction of access road and building
of the personnel housing and the explorations of Wolf Properties in
Vancouver Island, British Columbia, Canada.
The Company intends to fabricate and install mini rod mills for
the XYZ, so that the production of the XYZ Masbate Gold may begin
during the second half of 2008. A copper flotation system installed
to the existing Gango Gold Rush mill plant will increase gold and
other precious metals recovery. Likewise, a 10 metric ton mini gold
mill plant is being installed in Binasan, thus escalating gold
recoveries. Additionally, the Company's Canadian exploration team
is now prepared to begin in earnest Phase I Explorations on the
Wolf Properties in Vancouver Island, British Columbia, Canada.
The Company is engaging the services of a qualified U.S. CPA,
PCAOB registered, with the concurrence of its legal counsel, to
perform an audit of ZNext's 2006 & 2007 financial
statements.
The Board also resolved the appointment of Manolo Tecson and
Randolf Villanueva to serve as acting co-CEOs for ZNXT while Jason
Piamonte is on a leave of absence. The Company hired an Independent
Geologist Consultant, while mining engineers and technical laborers
(skilled and unskilled) are hired as temporary employees to work on
each project. ZNext's board also resolved to begin conducting its
investor relations services in-house effective June 1, 2008,
utilizing the services of Jordan Richard Assoc. LLC through May 31,
2008.
"In recognition of our investors' and shareholders' patience, we
wish to show our gratitude to them while we commence work at the
XYZ Masbate Gold, re-open our Gango Gold Rush in Bukidnon, the
Binasan Gold Project, and undertake Phase I exploration at the Wolf
Properties in British Columbia, Canada," said Chairman Tecson.
Additionally, the Company announced that it disavows the claims
of Operation Reach Out-USA (ORO-USA, domiciled in the State of
Nebraska) regarding ORO-USA's role in the alleviation of poverty
among the Binasan Indigenous People of the Philippines. Many claims
made on ORO-USA's web site, especially with regard to alleged
humanitarian contributions to the Philippines, are being challenged
as to the facts, truthful disclosure and various legalities.
ORO-USA's non-profit status and its 501(c)(3) (tax-exempt)
designation with the IRS is also under scrutiny. ZNext Mining and
Pearl Asian Mining wish to make known their challenge of numerous
claims made and affiliations both stated and implied by ORO-USA.
Neither Company has ever endorsed ORO-USA and the companies caution
anyone who would consider contributing to the so-called "non-profit
humanitarian operation" conducted by Jeffrey Alan Bosaw and his
wife Jennifer Bosaw.
BUSINESS REVIEW
ZNext Mining Corporation, Inc. is a multi-national mining
company engaged in the exploration and commercialization of new and
underdeveloped mine sites, primarily gold, silver and other
precious strategic metals. Twelve (12) mining claims in British
Columbia, Canada are owned 100% by ZNext Mining. Additionally,
ZNext Mining owns 40% of the Pearl Asian Mining Industries, Inc., a
Philippines domestic private corporation, that holds an application
under a Mineral Production Sharing Agreement (MPSA) with the
Republic of the Philippines, pending approval. The Company has a
special small-scale mining permit (SSSMP) in the XYZ Masbate Gold
Project. Currently it has three gold mining sites: (1) Binasan
Gold, Misamis Oriental (2) Gango Gold Rush, Bukidnon (3) XYZ
Masbate Gold, Masbate. The company has a joint venture agreement to
explore and develop the Crisanta Copper & Gold Project in
Eastern Samar. ZNEXT Mining that through aggregation of manpower
and production among small-scale miners and indigenous peoples,
intends to capitalize on economies of scale in gold and silver
extraction, processing and commodities selling and trading. ZNext
Mining, Inc. is committed to the implementation of sustainable
green technologies to achieve fiscal strength based on the
principle of Profit-People-Planet. Management continues to focus on
achieving profit, while conducting business with utmost
consideration and compassion for people and protection of our
planet and the environment.
FORWARD 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.
Factors that could cause actual results to differ materially from
anticipated results include risks and uncertainties such as: 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 a result of new information, future events or
otherwise.
CONTACT: Investor Relations Madeleine Franco Jordan Richard
Assoc. LLC Phone # USA 702-256-4905 e-mail: Email Contact URL:
www.ZNextmining.com
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