Press Release |
Midlands Minerals and PMI Gold Clarify New Ghana Property Acquisition by PMI Gold
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TORONTO, ONTARIO, Aug 22 (MARKET WIRE) -- Midlands Minerals Corporation ("Midlands" or the "Company") (TSX VENTURE: MEX) and PMI Gold Corporation ("PMI Gold") (TSX VENTURE: PMV) are pleased to clarify the news release distributed by PMI Gold on August 21, 2008 regarding a new property acquisition by PMI Gold on the Asankrangwa Gold belt in Ghana. The new PMI Gold property was referred to as "The Kaniago Prospecting License" in the news release. Midlands Minerals however, is the holder of an adjacent property, already referred to as "The Kaniago Prospecting Licence" issued as number LVB 13170/07 on June 4, 2007 and signed by the Minister of Lands, Forestry and Mines and registered by the Registrar of Lands (Government of Ghana) on June 18, 2007, and valid for a period of 2 years. In Ghana, license names are generally based on the names of the main villages within or close to the prospecting license area. The main Kaniago village is located within the Midlands' license area, but there may be minor villages elsewhere that could have the same village name. The two companies are issuing this press release to clarify that these are in effect two different, valid, prospecting licenses. The Asankrangwa Gold Belt is a highly prospective belt with promising prospects and both Midlands and PMI Gold hold properties which are either past gold producers or are contiguous to past open pit gold producers. Midlands' Kaniago project sits between PMI Gold's Abore and Obotan projects, on the Asankrangwa Gold Belt. The attached map, prepared by PMI Gold, illustrates the location of the two licenses. To view the map, please click on the link below: http://www.midlandsminerals.com/press_releases/images/KaniagoMEXLocStrucsmallpor rait.pdf. For future disclosure purposes, and in order to minimize any potential confusion, PMI Gold will refer to its new Kaniago Prospecting License as the Kaniago (Adansi) license. ABOUT MIDLANDS MINERALS Midlands is a growth oriented and value based gold exploration company operating in Ghana and Tanzania, two stable low risk countries with a history of gold mining. The Company mitigates potential risk to investors by operating in two safe countries with well established mining laws, and by having several high quality projects located near major gold deposits and on known prolific gold producing belts. The Company has a highly qualified management and technical team with extensive experience in the countries in which the Company operates. The Company's priority project is the fully permitted and past gold producer, Sian gold project, located on the Ashanti Gold Belt in Ghana. For more information on the Company, please visit Midlands' investor relations website at www.agoracom.com/IR/MidlandsMinerals or email MEX@agoracom.com. ABOUT PMI GOLD PMI Gold is currently advancing its Kubi Gold Project in Ghana towards production, and controls four previous operating gold mines on 712 square kilometres of leases and concessions located along the prolific Ashanti and Asankrangwa gold belts. For more information, please visit PMI Gold's website at www.pmigoldcorp.com. ABOUT GHANA Ghana is Africa's second largest gold producer and has attracted over $7 billion in foreign direct investment into the minerals and mining sector over the last decade. Ghana is a destination of choice because of its long gold mining history, prospective resource base, reasonable taxation and stable government. On behalf of the Board of Midlands Kim Harris, President and Chief Executive Officer On behalf of the Board of PMI Gold David Buckle, Executive Chairman Certain statements contained in this news release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from actual results and achievements expressed or implied by such forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. The Company adds a cautionary statement to the effect that the potential quantity and grades referred to in this press release are conceptual in nature and there has been insufficient exploration to define a mineral resource. Further, the Company is uncertain if further exploration will result in discovery of a mineral resource. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. Readers are also advised to consider such forward looking statements while considering the risks inherent in the business of mineral exploration. For more information, investors should review the Company's filings that are available at www.sedar.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. Contacts: Midlands Minerals Corporation Kim Harris President and CEO (416) 492-6992 or CEO Direct Line: (416) 447-6882 (416) 492-6993 (FAX) Email: firstname.lastname@example.org Website: www.midlandsminerals.com PMI Gold Corporation David Buckle Executive Chairman (604) 682-8089 or Toll-Free: 1-888-682-8089 (604) 682-8094 (FAX) PMI Gold Corporation For European Investors: Florian Riedl-Riedenstein 43-2774-28814 Email: email@example.com PMI Gold Corporation For European Investors: John Mullen 41-522-428795 Email: John Mullen@bluewin.ch Website: www.pmigoldcorp.com Copyright 2008, Market Wire, All rights reserved. -0-