Venezuela Investments Inc. Approves Merger of Mindenao With Grand Pacaraima Gold Corp.
Posted on: Tuesday, 28 March 2006, 09:00 CST
Venezuela Investments Inc. S.A. has approved the merger of Mindenao Mining Corporation with Grand Pacaraima Gold Corp. (OTC: GPGD).
Now, Grand Pacaraima will totally focus its development operations on the four mining properties in Southern Venezuela near Icabaru including the Cerro Trompa with its 1580 foot elevated gold plume, San Miguel, Zapata Mine and Mosquito.
The primary concession which was received in 1981 for forty years covers approximately 4 square miles. Professor Rodriguez has estimated that these substantial mining properties have reserves of $580 million based upon $350 gold prices on selected samples of 80.86 grams per ton or 2.6 troy ounces per ton.
Investors will be updated in April on plans for revised assays on the four properties plus production negotiations. Limit orders are urged since the float is restricted to approximately 5 million shares and there is short interest.
Safe Harbor Forward-Looking Statements
This press release may contain certain statements that constitute forward-looking statements within the meaning of The Safe Harbor Provisions of the Private Securities Litigation Act of 1995. The words may, would, will, expect, estimate, anticipate, believe, intend and similar expressions are intended to identify forward-looking statements which are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's or writer's ability to control. Actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
Contact: Investor Relations at 1-866-892-0247 and/or 1-718-578-4500
SOURCE: Grand Pacaraima Gold Corp.
Source: MARKET WIRE
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