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PHGI -- Perihelion Global, Inc. Com ($0.001) COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Perihelion Global Receives Federal Land Right of Way and Access Road Permits From US Dept of Interior, Bureau of Land Management
WILMINGTON, DE and SANTA ROSA BEACH, FL, Jun 07, 2007 (MARKET WIRE via COMTEX) -- Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced that the company has officially received right of way and access road permits on federal land from the United States Department of Interior, Bureau of Land Management. These critical permits will allow the company to have full right of way, operate, lease and maintain an access road across approximately 8,000 feet of federal land to its Patented Gold Mine #5797 on the Utah/Nevada border. Specifically, the company has been granted a right of way to maintain and operate a road access of approximately 6,300 feet of existing roadway on federal land, with permission to construct, operate and maintain a 1,650ft access road extension on federal land. This will enable direct transportation to and from the company's Patented Gold Mine and the additional surrounding mining claims owned by Perihelion Global. The permits are valid through December 31, 2012.
The company has already paid in full all surety, impact and reclamation fees to the US Dept of Interior and the lease payment for the use of the access road.
The company is slated to have crews working on the construction of the access road starting Friday, June 8, 2007. The company believes the process to maintain the existing 6,300ft access road and construction of the new 1,650ft extension will take approximately 4-6 weeks, weather permitting, at which point the company can begin its first small scale mining operations and transforming itself into a revenue-producing entity.
The company has previously been issued a small mining permit for its Patented Gold Mine by the State of Utah, Division of Oil, Gas & Mining contingent on receiving the federal land right of way from the US Department of Interior, Bureau of Land Management. The company plans to have the permits uploaded to the Pink Sheets site for public review within 24-48 hours.
Perihelion Global Chairman, Chief Executive Officer, and President, John H. Beebe, commented, "We're very pleased with receipt of the right of way and access road permits as this was a crucial step to realizing revenue from the mine. In anticipation of permits being granted, we have already contracted construction crews to grade and construct the access road necessary and they are expected to begin work tomorrow. We remain absolutely committed to a significant return on the company's investment in this property. As always, we will continue to update shareholders and provide relevant documentation every step of the way."
About Perihelion Global:
Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications.
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