Press Release Source: Pearl Asian Mining Industries Inc.
Pearl Asian Mining Industries, Inc. Starts Exclusive Mining Operation, Gold Purchasing & Mineral Processing Agreement With One of Mindanao's Local Tribes Monday April 3, 8:00 am ET Pearl Asian Mining Will Operate and Process Their Raw Gold & Silver Ores With The Potential Presence of Platinum Metal
PASIG CITY, Philippines--(BUSINESS WIRE)--April 3, 2006--Randolf Villanueva, President and CEO of Pearl Asian Mining Industries, (OTC:PAIM - News) announced today that the Company has successfully negotiated and signed an exclusive Mining Operation, Gold Purchasing and Mineral Processing Agreement with the Indigenous People's Chieftains. Pearl Asian will operate and process the ancestral land domain claims rich with raw gold and silver ores that may have contain platinum metals. This will be immediately available as another source of income of Pearl Asian (PAIM). ADVERTISEMENT
Pearl Asian Mining is an aggressive gold mining company with a portfolio of gold and silver mining interests in the Philippines and Canada. With this new and potentially immediate "revenue-making" to be generated sooner than expected, should give a positive impact on the company's 2006 Second and Third Quarter Financial Statements. The "Operation Cagayan de Oro" will be operational and done simultaneously while awaiting for the completion in the development of the general infrastructures on the XYZ Gold Mine Site.
The Gold Team is making their second trip on April 4th, to survey a topographic map to locate the site for a pilot plant of the "Pearl Asian Gold Mineral Processing Center." This ancestral domain claim known for very rich gold reserve in Cagayan de Oro (River of Gold) City, Mindanao Island, Philippines, is approximately 1 1/2 hour flight south of Manila. This is the local tribes' main livelihood: as small-scale mining "gold panners" producing gold between 1-2 kilos per week, using the most crude and manual procedures of gold recovery. The silver and platinum metals were discarded by the locals as they don't seem to understand the actual value of these other precious metals.
Just like the 1849 Gold Rush Bonanza in California, Pearl Asian Mining Industries (PAIM) sets out as the Pioneer in the mining developments, environmental safety and community developments. Pearl Asian is committed to build school houses, churches and medical clinics. Pearl Asian will help develop these very remote, mostly untapped, and very rich in gold areas of the Philippines "The Isles of Gold."
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