NEW YORK, Sept. 20, 2010 (GLOBE NEWSWIRE) -- El Maniel International Inc. (Pink Sheets:EMLL) announces that it has begun proceedings on a survey program for 100 acres of its Alluvial Gold Mining project in Ghana, West Africa, which was announced about a month ago. The Exploration initiative includes active stream sediment sampling and geological mapping. According to CEO, Jamie Khoo, "This is tremendous progress for El Maniel in West Africa and we are expecting expedited progress as we move forward on a lucrative venture for the company."
Gold production in Ghana grew 12 percent in 2009 and gold remains the predominantly produced mineral in the country apart from other minerals on large scale mining such as diamonds, bauxite, manganese and salt. Ghana's mines produced 2.9 million ounces, compared with 2.6 million a year earlier, according to data from the Ghana Chamber of Mines handed to Bloomberg in April 2010. Revenue rose to $2.8 billion from $2.2 billion. In addition, Ghana, a former British Colony which celebrated its independence in 1957, is a politically stable business environment with favorable mining laws aligned with a proven supply as one of the largest areas of Gold deposits in all of Africa.
Gold mining positions in Ghana tend to provide a higher level of income for workers than any other form of mining and El Maniel has set forth motions to ensure that good job opportunities will be created for the locals in harmony with the company's socio-economic objectives. "We expect a good and promising success here with additional opportunities thereafter," added Jamie Khoo.
El Maniel will follow-up these first steps with an additional 100 acres for Exploration in the next week, to be announced via press release. "These activities are crucial to determining the full potential success for the project, which we are confident will be overall attractive for El Maniel," states Jamie Khoo. "This sets us on-schedule for mining operations to begin by the end of Q4 2010."
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
Press Release drafted by NMR, LLC
CONTACT: El Maniel International, Inc. Investor Relations Contact: Gerrard Hollister (310) 909-7988 EMLL@GerrardHollister.com
