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Siguiri Basin Mining, Inc. (PINKSHEETS: SBMI): COO of Consolidated Mining and Minerals Travels to Africa to Set Up Production Operations

Posted on: Thursday, 17 May 2007, 09:00 CDT

Siguiri Basin Mining, Inc. (PINKSHEETS: SBMI) -- William "Bill" Ross, Chief Operating Officer of Consolidated Mining and Minerals, has left for Guinea, Africa to join Geologist Benoit Viloette at the joint venture property site. Mr. Ross will be setting up the Tinkisso River camp and assisting the Geologist in sampling dredge sites. Additionally, Mr. Ross will begin training local dredge operators in advance of the arrival of SBMI's dredging equipment.

Between 1909 and 1949, French colonials prospected and dredged a stretch of the Tinkisso River approximately 25 kilometres downstream from the Tinkisso River dredging permit area. During that period approximately 9,646 ounces of gold were extracted from the loose sediments of the Tinkisso River. A review of past records revealed that up to 60% of the recoverable gold was lost due to a poor recovery circuit.

During June and July 2003, CMM conducted a reconnaissance sampling program on the Bandou Siitou gravel bar located on the north bank of the Tinkisso River approximately three kilometres south of the town of Fifa, one of nine gravel bars banking the Tinkisso permit area that measures 680 metres long by 100 metres wide. A total of 11 pits on six lines were excavated across the width of the gravel bar and over its entire length. The clastic sedimentary sequence excavated included fine to coarse sand lenses within medium to coarse gravel horizons. More than 90% of the sand and pebbles were found to be composed of sub-rounded to well-rounded quartz fragments. The recovered grades ranged between 0.34 milligrams of gold per cubic metre to 29.76 milligrams of gold per cubic metre with an average of 56.6 milligrams of gold per cubic metre.

In 2004, CMM was awarded an extension of territory to the original Tinkisso River dredging permit, the Tinkisso 2 River reconnaissance dredging permit, adding an additional 28 kilometres of dredging potential downstream from the original area. From 2004 to 2006, CMM tested recovered fine gold from sand bars in the permit area. As well, 4,100 grams of gold was recovered from intermittent random sampling of gravel dredged from the bottom of the river near the boundary of the permit area.

The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contain statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statement.

ABOUT THE COMPANY

Siguiri Basin Mining Inc (PINKSHEETS: SBMI) is a mineral exploration and development company focused on achieving producer status. The Company's targets are precious metal properties in stable countries within opportunity rich West Africa, Central and South America with near term production capabilities. www.sbmining.com

 For further information contact Rich Kaiser YES International 1-800-631-8127 001-757-306-6090 (outside North America) Email: yes@yesinternational.com

SOURCE: Siguiri Basin Mining Inc.

Source: MARKET WIRE

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