SOURCE: Hidalgo Mining International

January 10, 2008 16:35 ET

Hidalgo Mining (HMIT) Completes Purchase of Goldfield Alaskan 50-Ton per Hour Production Plant

NEW YORK, NY--(Marketwire - January 10, 2008) - Hidalgo Mining International (PINKSHEETS: HMIT), an innovative mining company headquartered in Port Washington, NY, announced today the purchase of the mining equipment necessary to begin production in West Africa.

Mark Daniel Klok, President of HMIT, stated: "Mining equipment and a 50-yard per hour Goldfield series wash plant ( have been purchased to begin bulk sampling in the form of pre-production on the Guinea property. The company has transported the plant to North Carolina where it's being prepared for shipment to the Guinea property next week. There are several potential alluvial mining blocks that are expected to have grades ranging from 1 - 8 grams per yard, based upon previous testing and sampling. With the price of Gold today above $US 875 per ounce, that comes out to over $US 28 per gram. This would mean that if the plant were to run at full capacity, the gross income would be approximately $400,000 at one gram per yard and $US 3,200,000 per month at eight grams per yard. The purpose of this first phase is to help quantify what grade production should yield consistently and to help quantify and determine the next phase of larger scale production.

We have already employed 25 local laborers and two local geologists to begin excavating a 10 x 10 meter test pit in a high-grade area to prepare our starting location for when the wash plant arrives. In addition, we have begun the construction of 5 houses for our key employees on location; this area will be the base camp of operations for HMIT on the property."

The company's goal is to begin at this 50-yard per hour level and then increase to 250-tons per hour once consistent production is established and an average grade is determined by the phase one efforts.

Mark Klok went on to state, "I'm very excited to begin production and look for 2008 to be a fantastic year for HMIT and our shareholders."


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.

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