SOURCE: Hidalgo Mining International

January 08, 2008 11:06 ET

Hidalgo Mining (HMIT) Completes Over $1 Million in Financing to Begin Production

NEW YORK, NY--(Marketwire - January 8, 2008) - Hidalgo Mining International (PINKSHEETS: HMIT), an innovative mining company headquartered in Port Washington, NY, announced today that the company has successfully completed over $US one million dollars in financing to begin the purchase and mobilization of equipment and personnel to begin gold mining production in West Africa.

Mark Daniel Klok, President of HMIT, stated: "We received incredibly favorable terms and have up to four years to satisfy our obligations under the terms of this financing agreement. Completion of this funding has allowed the company to hire the necessary employees as well as to purchase the equipment necessary for the Guinea Project. The initial steps have already been put into place to start on the roadwork to access the property in Guinea, which requires the use of excavators and bulldozers to clear access so tractor-trailers with the rest of the equipment can get to the property and we anticipate being able to actually start production by the end of February/beginning of March."

Klok went on to state: "With the completion of this financing, we feel we are right on track to generate north of $US 6 million dollars in revenue in our first year of production. This would obviously not include any production occurring as a result of any of the additional acquisitions we anticipate closing in the near future."


Hidalgo Mining International (PINKSHEETS: HMIT), an innovative mining company located in Port Washington, NY, strives to increase its shareholders while implementing an aggressive rollup plan to achieve mining production on a global scale. HMIT's management and directors feel they have the vision, drive and experience to become a highly successful, major multi-national producing mining company.


The described potential acquisition cannot be guaranteed. The acquisition of AIM by HMIT is contingent upon multiple criteria that must be approved by both organizations as well as governing agencies. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. These expectations and assumptions are subject to risks and uncertainty, which could affect Hidalgo Mining Internationals' future.

Contact Information