Nilam's Management Refocusing Company
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LIMA, Peru, Aug. 5, 2008 (PRIME NEWSWIRE) -- Len DeMelt, Director of Nilam
Resources, Inc. (OTCBB:NILR) (Frankfurt:3NL), has announced that the Company is
moving forward with new plans to refocus the Company after the disappointing
loss of the Pativilca Mineral property. Due to the recent instability of the
international financial markets, the Company was unable to secure the funding
necessary to complete the acquisition of the Peruvian mine. Mr. Vare Grewal, the
CFO, Treasurer and Director has resigned from all positions within the Company
to pursue other opportunities.
"Nilam is now conducting an international search for experienced and well
qualified financial professionals to partner with the Company to ensure we reach
our goals," said Mr. DeMelt. "We have world class mining engineers and
geologists working with our Company and we expect an equal level of performance
and commitment from our finance team."
The management is actively exploring its current options to add value to Company
and its shareholders. "At this point, everything is on the table," said Mr.
Alain Vachon, President. "We are continuing to look for exceptional properties
and are working very hard to find the right financial partners in Germany."
Nilam Resources has offices in Lima, Peru and Quebec.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays beyond
the company's control with respect to market acceptance of new technologies or
products, delays in testing and evaluation of products, and other risks detailed
from time to time in the Company's filings with the Securities and Exchange
Commission.
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CONTACT: Nilam Resources Inc.
Mr. Alain Vachon
(514) 449-5914
http://www.nilamresources.com
http://www.nilamresources.de
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