Geoandina Mining Corp. Confirms Target Property in Argentina, Cerro Negro
10 Maio 2007 – 5:27PM
PR Newswire (US)
TORONTO, May 10 /PRNewswire-FirstCall/ — Geoandina Mining Corp.
(OTC:GODN), a junior mining company is pleased to announce that it
is finalizing negotiations with a potential property 50 miles from
the city of Mendoza. The Company has also commenced searching for a
more advanced and modern center of operations within the city of
Mendoza. The area has an international airport and all the modern
facilities for communication, heavy machinery purchases/rentals,
equipment, transportation and all other mining necessities. “The
target property is called Cerro Negro, which has been in low-scale
artisan production over many years, but, will require much further
testing and exploration.” said Mr. Jonathan Hagen, President and
CEO of Geoandina Mining Corp. “During our negotiations, we have
discussed and reviewed all technical data in relation to this
property. A Preliminary Geologic Report was produced several years
ago. Our team is prepared to follow up on the report and produce
our very own Preliminary studies, once we finalize the Letter of
Intent. We will be happy to release all pertinent information once
it becomes available.” The Company believes that the Letter of
Intent should be completed within the following week. About
Geoandina Mining Corp. Geoandina Mining Corp. is a publicly traded
mining holding company, trading under the ticker symbol GODN on the
US Pink Sheets market. The Company will continue to acquire proven
gold and precious metal reserves throughout South America and
operate through a variety of strategic methods such as
acquisitions, joint ventures, or partnerships. The Company’s
initial target is Argentina, a country with tremendous growth
perspective. The Argentine mining sector is extremely encouragement
and high in potential. With a surface of over two million square
kilometers, it is very rich in mining resources. In fact, the
Mining Journal Survey has ranked Argentina sixth in the world in
mining resource potential, ahead of high gold producing countries
such as Mexico, Colombia, and Bolivia. FORWARD-LOOKING STATEMENTS:
Statements contained in this news release, which are not historical
facts, are forward-looking statements within the meaning and
pursuant to the Safe Harbor provisions of the Securities Litigation
Reform Act of 1995 that involve risks, uncertainties and other
factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied
by such forward-looking statements. Factors that could cause actual
results or events to differ materially from current expectations
include, among other things: volatility and sensitivity to market
prices for coal; replacement of reserves; procurement of required
capital equipment and operating parts and supplies; equipment
failure; unexpected geological or hydrological conditions;
political risks arising from operating in certain developing
countries; imprecision in reserve estimates; success of future
exploration and development initiatives; competition; operating
performance of the facilities; environmental and safety risks
including increased regulatory burdens; seismic activity, weather
and other natural phenomena; failure to obtain necessary permits
and approvals from government authorities; changes in government
regulations and policies including tax and trade laws and policies;
ability to maintain and further improve positive labor relations;
and other development and operating risks. Although Geoandina
believes that the assumptions inherent in the forward-looking
statements are reasonable, undue reliance should not be placed on
these statements, which only apply as of the date of this report.
The company disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise. DATASOURCE: Geoandina
Mining Corp. CONTACT: Jonathan Hagen of Geoandina Mining Corp.,
+1-905-688-3986 Web site: http://www.geoandina.com/
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