El Maniel International, Inc Receives Renewal for Mining Lease in Papua New Guinea
March 26 2012 - 8:29AM
El Maniel International Inc (Pink Sheets:EMLL) is currently
involved in the alluvial gold mining as well as oil and gas
business and the company is pleased to announce today that we have
successfully renewed the Mining Lease (ML) known as ML153 of
approximately 100 acres in Kompiam District of Enga Province in
Papua New Guinea for a period of 10 years. "We are extremely
excited to receive the 10 years renewal approval for ML153 and with
this, we are confident in carrying out full-fledged development on
this exceptional gold property with equipment and experienced
personnel at our disposal," according to Jamie Khoo, CEO of El
Maniel International, Inc. "As highlighted previously, assay
results from initial samples extracted from ML153 pointed
exceptionally high quality gold recovery of 76.97% and this
milestone has become a significant asset to the Company due to our
persistent efforts in creating value for the Company and
shareholders."
In addition to the mining license renewal, the joint venture
sealed between El Maniel International, Inc ("EMLL") with 80%
interest and the license holder Kwoe Resources Development
Corporation Limited ("KRDC") with 20% interest under a Joint
Venture Tribute Mining Agreement has also been approved and
registered by the Ministry for Mining and Mineral Resources
Authority by virtue of Section 119 of the Mining Act 1992 of Papua
New Guinea "We are exceptionally thrilled to note that our joint
venture for ML153 has been approved and registered officially and
this give us absolute reasons to go ahead with an aggressive
resource definition and mine development program on ML153," added
Jamie Khoo. For further information and updates, stay tuned to
www.elmaniel.com
About El Maniel International, Inc:
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 business
domain. El Maniel is also venturing into lucrative oil and gas
business initiative with high growth strategies of investing in
underdeveloped oil and gas production assets with immediate revenue
generating capabilities throughout the United States. 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 risk 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
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