El Maniel International, Inc to Capitalize on Gold Opportunities in Papua New Guinea
July 20 2011 - 8:40AM
El Maniel International Inc (Pink Sheets:EMLL) announced today that
the Company is very pleased with the alluvial gold mining
opportunities in Papua New Guinea (PNG) and will aggressively
pursue the immediate offers in hand "We are very excited with the
Enga Province project site that we visited recently and according
to preliminary estimates, gold reserves in this alluvial gold
mining claim totaling about 100 acres are in the region of 270,000
ounces" according to Jamie Khoo, CEO of El Maniel International,
Inc "While we are very excited with this alluvial gold mining
opportunity in Enga Province, we are also looking at other
available sites in other provinces with similar gold occurrences
and we are seriously reviewing our options".
The Enga Province comprises of 5 districts with a total of 14
local governments and is one of the highlands provinces of PNG with
mineral wealth and home to one of the largest gold mines in the
world. "According to the Papua New Guinea Mineral Sector profile
issued by the Minerals Resources Authority, in 2009, gold
production from Porgera Gold Mine in Enga Province itself was
618,544 ounces representing about 30% of the country's aggregate
gold production" stated Jamie Khoo "As mentioned in our
forecast in our press release dated February 22, 2011, gold prices
continued to hit unprecedented levels of $1,600 enhancing the
prospective value of our gold assets and we will capitalize on the
prevailing opportunities available in the gold business
domain".
The Company is in the process of updating its financials with
the OTC Markets under its ongoing efforts to provide transparency
to shareholders and the Management has no plans at this time to
increase the authorized shares and does not foresee any reverse
splits in the future.
El Maniel International Inc is a publicly traded company
currently focusing in the gold business domain including but not
limited to trading, prospecting, developing and expanding the
economic potential of its world class mining claims and the company
is committed in creating shareholder's value by ensuring constant
development of current and new resources in its global gold
business domain. For further information, visit
www.elmaniel.com
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: The statements contained in this release which
are not historical facts are forward-looking statements that are
subject to risks and uncertainties that could cause actual results
to differ materially from those set forth in or implied by
forward-looking statements. These risks and uncertainties include
the Company's entry into new commercial businesses, the risk of
obtaining financing, recruiting and retaining qualified personnel,
and other risks described in the Company's Securities and Exchange
Commission filings. The forward-looking statements in this press
release speak only as of the date hereof, and the Company disclaims
any obligation to provide updates, revisions or amendments to any
forward-looking statement to reflect changes in the Company's
expectations or future events.
CONTACT: Investor Relations
El Maniel International, Inc
(212) 726-2179
ir@elmaniel.com
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