SILVER FALCON MINING (SFMI)
Announces Earnings Estimates
BRADENTON, FL -- (MARKET WIRE) -- 08/22/08 -- Silver Falcon Mining, Inc. (OTCBB:SFMI.PK - News) today announces the projected earnings estimates from the milling of the ore in only three (3) of its fourteen (14) tailings dumps, on its War Eagle Project.
Based on precious metal contents of Gold price at $800 dollars/ounce and Silver prices at $14 dollars/ounce, Silver Falcon Mining has $30.7 million of proven gross reserves based on assay averages of these three (3) tailing dumps accessible now on War Eagle Mountain. Ahead of production start-up at its Melba, Idaho mill, contracts have been let out for transport to and operation of the mill which represent a combined cost of $340 an ounce.
Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc., said, "We are very excited at the confirmation of our projections on both, precious metal contents and milling costs. We will continue update progress on our operations as they become available."
Silver Falcon Mining, Inc. is an exploration and development Company specializing in high-grade Gold and Silver mining properties in North America.
For further information contact Investor Relations, Rich Kaiser, YES INTERNATIONAL, 800-631-8127.
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
Yes International Ltd.
Attn: Rich Kaiser
3419 Virginia Beach Blvd., #252
Virginia Beach, VA 23452