SILVER FALCON MINING (SFMI)
ANNOUNCES MINEX ASSET ACQUISITION MEMORANDUM
BRADENTON, FL -- (MARKET WIRE) -- 10/03/08 -- Silver Falcon Mining, Inc. (OTCBB:SFMI.PK - News) announces today the signing of a memorandum of agreement to purchase all of the assets of Mineral Extraction Company (Minex).
Part of those assets, namely the SINKER TUNNEL complex, will give us access to the workings of all of our tunnels and shafts on a year round basis, as well as allowing us to mine both the ORO FINO and POORMAN veins, from the face of the rock. Considering that the snow situation is very manageable at the altitude where the tunnel surfaces, our presence on the mountain will now be on a twelve month basis.
The SINKER tunnel bores a straight line for a distance of nearly 2 miles through the hearth of the mountain and will be used both to access our different shafts and adits as well as give us ample opportunity to enlarge a chamber inside the mountain to put in a substantial mill capable of milling hundreds of tons of ore per hour. The ore to feed this mill will be mined and transported inside the mountain to our milling plant protected from the vagaries of the weather.
Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc., added, “We are thrilled at this development and are excited to be in a position to work every month of the year without having to transport minerals on roads that are exposed to very harsh weather. We will continue with our business plan this year, which calls for the milling of the tailings from the mountain in Melba, but the anticipated expansion of the milling capacity will be done in the bowels of the War Eagle Mountain.”
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