SOURCE: Hidalgo Mining International

October 31, 2008 08:56 ET

Hidalgo Mining International (HMIT) Addresses Market Conditions

NEW YORK, NY--(Marketwire - October 31, 2008) - Hidalgo Mining International (PINKSHEETS: HMIT) issued the following statement from Hidalgo President Mark Daniel Klok addressing the company's position and the current economic and market conditions:

"We do not believe that the current price per share accurately reflects the value of the company, its assets, and potential for growth. Many companies, both domestic and foreign, and traded on markets around the world are undervalued in current market conditions, representing great opportunity for investors. We feel that the company, poised for significant gold and precious metals recovery, represents massive potential for return on investment with gold and silver specifically experiencing ever-increasing demand as many continue to convert their holdings into physical metals positions. Mints around the world are hard pressed to source raw gold and silver to satisfy customer demand, and Hidalgo stands to benefit significantly from the undeniable fact that in times of economic crisis, safe-haven investors continually turn to precious metals, in turn driving prices skyward. A recent article in the Calgary Herald reported that mints around the world are now allocating limited bullion supplies to distributors who are in turn unable to meet the increasing demand for coins and bullion. The article, citing U.S. Mint spokeswoman Carla Coolman, noted that in the United States, sales of the one ounce gold bullion American Eagle coins are being allocated to authorized dealers, while sales of American Buffalo gold coins were suspended in late September due to depleted inventories. It is in this environment that, having overcome many obstacles en route to our current position, we are confident in our belief that our developments and operations will profit the company greatly as a gold and silver producer, and yield significant positive shareholder value both in the short and long terms."

ABOUT HIDALGO MINING INTERNATIONAL

Hidalgo Mining International (PINKSHEETS: HMIT) is an innovative mining company implementing aggressive plans targeting near-term mining production projects on a global scale. HMIT's management, directors, and advisors hold an abundance of industry experience and knowledge to implement expansion in this rapidly growing industry.

Disclaimer: CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

The results described herein cannot be guaranteed. The development of any and all of the subject mining claims stated herein is contingent upon multiple high risk factors that must be successfully dealt with in order to achieve the intended results. 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 International's future. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Hidalgo Mining International to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. Hidalgo Mining International undertakes no duty to update any forward-looking statement(s) and/or to conform the statement(s) to actual results or changes in Hidalgo Mining International's expectations.

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