ZNext Mining Highlights Events During the First Half of 2008
September 16 2008 - 1:29PM
Marketwired
ZNext Mining Corporation (PINKSHEETS: ZNXT) (OTC Preferred: ZNXTP)
highlights the second half of 2008 with overflowed climatic events,
happenings, recent changes and updates in the company:
-- British Columbia-Nanaimo Gold Project: Initial work programs on the
Vancouver Island mining project had been completed by our experienced
Canadian Exploration Team, with results to be announced.
-- Binasan Gold Project: The Gold Team of expert gold mapper and
geologist are back to re-assess the magnitude of side effects due to long
wet seasons of heavy rainfall, mudslides and road closures in the Binasan
mountains. The plan is to start tunneling and putting strong re-
enforcements and heavy supports on the selected rich gold mine sites to
avoid future mudslides, thus allowing for the non-stop mining development
and gold production from these gold tunnels.
-- Gango Gold Rush Project: The EMB requirement for the tailing ponds had
been successfully corrected and passed. New work scheme program was
developed, to be re-enforced among the local cooperatives' workers prior to
starting the mining and processing of the plant. In the beginning of 2008,
we had announced that the enhanced processing plant will have a copper
floatation device installed and attached right before the crushed gold ores
mixtures enter into the first C-I-L tank. By the addition of the floatation
device, any and all copper and other impurities will increase the gold,
silver and other precious metals production.
-- XYZ Gold Project: The XYZ Gold Team is now led by Pres. CEO Randolf
Villanueva and OIC Jun Oliva. They have been fast tracking the ECC
Certification to fully satisfy the requirements before Sept. 30, 2008.
Meanwhile, field workers are rehabbing two of the rich tunnels and about 30
kgs of ores are compiled to be processed and analyzed in a US Metallurgical
Lab. It is very important to identify and determine the quantities of gold
and silver per metric ton of ores of these tunnels. Determining the quality
such as coarseness, roughness or fineness of the ores will be used in the
manufacturing and customized design of the on-site XYZ Gold processing
plant.
The weather conditions are now much better after almost 8 months
of a very wet season.
The ZNext Board looks forward to bringing amicable resolutions
to the delays caused by the inclement weather and other unforeseen
circumstances that affected the productivity of these projected
mining operations.
The company is in discussions to be acquired and/or merge with a
private mining company that is currently grossing $2,000,000 and
netting $200,000 per month from mining revenues. If these
discussions are consummated in a merger, the company, as a
condition, will first transfer most of its assets and liabilities
to one of its subsidiaries and/or affiliates and distribute the
shares of that company to its shareholders.
"We thank all shareholders of ZNXT for patiently bearing with
us, as we go through and overcome these unforeseen delays we
encountered during the first half of 2008," stated President/CEO
Randolf Villanueva.
FORWARD STATEMENTS
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to differ materially from the
anticipated results, performance or achievements expressed or
implied by such forward-looking statements. Forward-looking
statements in this release include statements regarding the
Company's projections regarding gold production in future periods.
Factors that could cause actual results to differ materially from
anticipated results include risks and uncertainties such as: risks
relating to estimates of reserves, mineral deposits and production
costs; mining and development risks; the risk of commodity price
fluctuations; political and regulatory risks; risks of obtaining
required operating permits and other risks and uncertainties. Penny
Stocks are very highly speculative and may be unsuitable for all
but very aggressive investors. The Company disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
CONTACT: Investor Relations Denise Bravs Phone # USA
(888)-498-0001 FAX: (888)-588-0854 e-mail: Email Contact
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