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Pearl Asian Mining Industries Announces Availability of PAIM Gold Vanity Card, Reports on Progress of Gold Mining and Processing at Project Cagayan De Oro, CEO Traveling to Switzerland to Firm Up Gold Sales Contract

Posted on: Wednesday, 25 October 2006, 12:00 CDT

Pearl Asian Mining Industries, Inc. (OTC:PAIM) announced today the availability of the PAIM Gold Vanity Card, made of 24K gold, certified 99.99%, weighing 50 grams +/-, with each PAIM Vanity Card to be covered by a certificate of authenticity. Information on price, sample photos, and other details will be made available by the end of the week on the PAIM website: www.pearlasianmining.com, and confirmed orders may be placed by sending an e-mail to Investor Relations, also at the PAIM website, starting October 30th. Deliveries of the PAIM Gold Vanity Card shall commence on November 18, 2006.

The gold team also reported on the progress of mining activities. So far, 30 metric tons of gold ore has been processed using the gold processing equipment. Engineer Ricardo Bernardo, VP-COO, stated: "The recent heavy rains have caused the collapse of some of our ore stockpiles due to soil erosion; however, we are currently rehabilitating the affected gold veins. Meanwhile, other effective mining methods, such as hydraulicking, are now being used to ensure faster exposure of high-grade gold veins in areas previously identified by our geological team. This will result in production of bigger volumes of high grade gold ores for processing in the gold plant. In addition, to complement the security measures put in place, such as installation of fences in high security areas, and purchase of high-powered firearms for use by a well-trained security force, among others, we shall soon install a video surveillance system within the Project Cagayan de Oro mining claim."

PAIM's marketing efforts will be brought to the next level with CEO Jason Piamonte's scheduled visit before the end of the month to Geneva and Zurich, Switzerland, to firm up the long-term sales contract for more than 10 metric tons of gold bullion with a company that has built up its expertise in metals trading. Mr. Piamonte stated: "With the completion of the initial due diligence by the prospective buyer, PAIM hopes to finalize a sales contract before the end of the year and immediately commence delivery of gold bullion soon thereafter. Aside from its mining/processing activities in Project Cagayan de Oro, the company is currently engaged in buying of gold ores, concentrates, and other semi-processed gold intermediates for processing in its gold processing plant, and is likewise actively evaluating new mining claims, in order to serve the substantial gold bullion requirement of the prospective buyer."

FORWARD-LOOKING 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.

Source: Business Wire

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