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Mindenao: Auditors Notes, Financial Statements & Gold Reserve Report Released to Public

Posted on: Wednesday, 3 August 2005, 12:00 CDT

Mindenao Gold Mining Corp. (Pink Sheets: MDGM) physically releases auditors notes, financial statements and gold reserve report via this press release.

In summary, the report of the independent audit shows that the company has confirmed in ground gold reserves of a minimum of 600,000 ounces of gold from only nine drill holes.

The report can also be found at http://www.rbic.us/philippines/sgmc/scan/.

Gold is at $433 per troy ounce and the company has approximately 44 million shares outstanding.

Mindenao operates in the Philippines under the company name Siennalyn Gold Mining. The company has rights to mine on more than 4,700 hectares of land, which is equivalent to 11,617 acres, in one of the richest island groups in the Philippines. This island group contains more than 80% of the country's iron reserves and sizeable deposits of the country's gold and other precious metal reserves.

The company has made available to the public, imagery maps and a geological report of its mining operations in the Philippines. This information can be found at http://www.rbic.us/philippines/sgmc/scan/. There are more than 54 pages of documentation. The company urges all investors to thoroughly review all information and to contact the company with any questions.

About Mindenao Gold Mining Corp.

Mindenao Gold Mining Corp. is a professional gold mining company that owns gold mining operations in Mindaneo, Philippines, one of the richest areas in the Philippines and in Asia. The company has proven gold reserves, setting itself apart from the majority of other companies. Documentation on the company can be found at http://www.rbic.us/philippines/sgmc/scan/.

This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

Source: Business Wire

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