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Michigan Gold Mining Investments Inc. CEO Comments on Significant Probable Silver Reserves at Anita Mine

Posted on: Tuesday, 30 May 2006, 09:00 CDT

Michigan Gold Mining Investments, Inc. (PINKSHEETS: MGGV) released comments today from its CEO.

Michigan Gold's CEO Ben Fuschino issued this statement concerning the presence of significant probable silver reserves at the Anita Mine in Peru. The company has recently entered into an option agreeement to purchase the renowned South American mine.

"The information concerning these silver deposits at the Anita Mine is extremely exciting for us here at Michigan Gold. Silver prices have been very strong as of late. Silver has industrial uses in addition to its lure for the investment community. Given the high demand for the metal, we feel the information concerning the presence of Silver makes the Anita Mine workable. This property could well prove itself to be a very nice fit in our strategy of the acquisition and development of prime mining sites and would help to ensure the strong success of our company's future," stated Mr. Fuschino.

As detailed in a press release issued on May 26, 2006, Michigan Gold Mining has announced the presence of significant probable silver reserves at the Anita Mine in Peru as reported by Professional Engineer, Mauro Espinoza Aguayo.

The Anita Mine is estimated to contain probable reserves of 3,182,200 ounces of silver over 227,000 Metric Tons of ore. This translates into 14.05 ounces per tonne of silver per Metric Tonne (a metric tonne is approximately 2,200 lbs).

Assuming a price of ten dollars ($10) per ounce for silver (silver currently trades above $12 an ounce), the gross value of the ore would stand at $140 per tonne. Mr. Aguayo estimates the costs of extracting the silver would run $14-$24 per tonne leaving approximately $110 per tonne as gross profit.

This deposit is open at depth and MGGV plans to drill test these deeper zones this coming summer.

Engineer Aguayo's report estimates Anita has a further potential of an additional 216,000 Metric Tonnes of ore with the average grade of 10 ounces of silver per tonne, which would, if accurate, represent an additional 2.16 million ounces of silver.

Other sections of the 325-hectare property (app. 810 acres) have been unexplored. MGGV has a geologist on the property. The Geologist is compiling a report on how best to test these unexplored areas.

Michigan Gold Mining Investments, Inc. is correlating the other metals that exist contiguously with the silver in the Anita 227,000 MT deposit and the company expects to publish the grade and the quantity of these metals as the information becomes available.

Michigan Gold Mining Investments anticipates total probable reserves of various precious and industrial metals in the Anita Mine to be significantly viable.

About Michigan Gold Mining Investments, Inc.

Michigan Gold Mining Investments, Inc. is an American junior mineral exploration company presently in the process of developing mineral assets in North and South America who currently retains a one hundred percent (100%) title to a Platinum/Palladium prospect in Northern Ontario, named the 'Deadmoose Lake' property.

Michigan Gold also holds an option on the Anita Mine in Peru. This mine is expected to have workable deposits of precious and industrial metals. Michigan Gold is now in the process of defining these potential deposits.

Michigan Gold is committed to the accumulation and development of unhedged precious metal deposit sites in both North and South America.

The company is of the opinion that the bull market in metals is a trend that will continue over a generation. Notwithstanding, the current low levels in Global Inventory in most metals and, most importantly, longer term strategic considerations originating from high-growth oriented economies in China, India and other Eastern nations has placed extreme pressure on pricing in the metals markets. This factor, coupled with the weakness of the US Dollar due to the USA's large budget and current account deficits may support historically high dollar prices in metals for years to come.

Major metals miners have hedged most producing properties and cannot strongly benefit from rising price trends over the near term. This places junior miners in a very advantageous position. As properties are proven and production is ascertained to be feasible, the ability of Michigan Gold Mining Investments to profit from these historically high metals prices should come to fruition.

Michigan Gold Investments Inc. (trading symbol MGGV) is listed on the OTC market and has commenced the process of becoming a full reporting US company.

Forward-Looking Statement

The information contained herein and regarding economic, competitive, governmental, technological and other factors may constitute a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, the Private Securities Litigation Reform Act of 1995. While the Company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein. This release contains forward-looking statements with respect to the results of operations and businesses of Michigan Gold Mining Investments Inc., which involve risks and uncertainties. The company's actual future results could materially differ from those discussed. Risks and uncertainties of the company will be detailed from time to time in the company's periodic reports. The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements, be subject to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995.

 Contact: Investor Relations 989-509-5908  

SOURCE: Michigan Gold Mining Investments, Inc.

Source: MARKET WIRE

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