AZHA Mining Mobilizing the 2nd Gold Rush, Large Scale Mining Permit Near Completion, AZHA to Issue Dividends; AZHA CUSIP No. Y05
August 04 2009 - 9:16AM
Marketwired
AZHA Mining, formerly ZNext Mining Industries, Inc. (PINKSHEETS:
ZNXT) (OTC Preferred: ZNXPP), announces today that AZHA's small
scale mining mobilization operation is moving forward as the gold
rush team just constructed a makeshift house over the mine shaft
getting ready for the mining operation. Tunnel Mining equipment is
on order: (a) high head 2 submersible water pumps to be used in
de-watering the mine; (b) Electric power transformer single phase
75 kva; (c) Power generator 75 kva (backup power in case of
brownout); (d) Air compressor 10 bar capacity; (e) 2 sets rock
drill; (f) 2 sets tiger hoist; (g) 3 sets high capacity submersible
pumps.
UPDATES
-- The MPSA or Large Scale Mining Permit is nearing completion. Estimated
completion is Winter of 2009.
-- XYZ Ore Crushing plant site is being cleared and prepared, with the
construction of the staff house on the land fully owned by AZHA Mining in
Bayombong, Masbate, just outside the XYZ Mine Site.
-- DIVIDENDS ISSUANCE: AZHA Mining is still committed to issuing the
promised Dividends of 50 ZNXT: 75 AZHA Common as Dividends (25 Unrestricted
& 50 Restricted Common stocks of AZHA) to all ZNXT Beneficial Shareholder.
The Dividends Distribution is expected to commence on August 19, 2009. Bear
in mind that this Dividend Distribution is NOT a typical Forward or Reverse
Split.
-- AZHA should soon have its own stock Symbol. AZHA's New CUSIP# Y0529N
104 / ISIN # PHY 0529N 1047
-- AZHA Mining Corporation included all of the Philippines mining assets
and the ZNXT common stockholders, excluding the Preferred Stockholders
(Symbol: ZNXPP) and any ZNXT or PAIM liabilities.
-- AZHA Board has resolved and passed that ALL Preferred Stock of ZNext
Mining (Symbol: ZNXPP) will be automatically converted to Common Shares of
Pearl Asian Mining Industries, Inc. -- a Canada Corporation to have its own
CUSIP # and Stock Symbol. The Board had passed the conversion factor of:
1:10,000 Ratio. (1 ZNXPP = 10,000 Pearl Asian Canada - Common Shares). That
means that every 1 ZNXPP held will be converted to 10,000 Common Shares of
the Pearl Asian Mining Industries, Canada Corporation. (Details to follow).
AZHA is advising all the ZNXT Shareholders to be encouraged in
the future of the company while it is now in the best position to
bring forth the best return on the investments for all the former
Pearl Asian Mining or ZNext Mining Shareholders/Investors.
The AZHA Board is re-assuring all of the ZNXT shareholders that
AZHA's preferred approach and mining implementations are working
well thus far to bring this mining company into production and
profitability, thus benefitting all the interests of the ZNXT
Shareholders and as future AZHA Shareholders.
ABOUT THE COMPANY
AZHA Mining Corporation, Inc is a Philippines mining company
engaged in the exploration, development of new and underdeveloped
mine sites. The company focuses primarily in the mining and final
production of gold, silver and other precious metals. AZHA was
assigned the 100% of PEARL's Mineral Production Sharing Agreement
(MPSA) for the issuance of the large scale mining permit, that was
filed in Region V since 2004; These include all of PEARL's Assets
such as gold-silver mining and other mineral explorations,
development and production.
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, and 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 Luis Madamba Phone # USA
(888-498-0001) e-mail: Email Contact
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