Amazon Mining Holding Plc
TSX VENTURE : AMZ

Amazon Mining Holding Plc

May 25, 2009 09:54 ET

Amazon Mining Holding Plc: Development of Potash From Verdete Rock Endorsed at Minas Gerais State Public Hearing

TORONTO, ONTARIO--(Marketwire - May 25, 2009) -

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Amazon Mining Holding Plc (TSX VENTURE:AMZ)("Amazon" or the "Company") is pleased to report that verdete slate, a potash rich rock from which Amazon plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer product, has been endorsed by Brazilian lawmakers, as Minas Gerais State looks to establish prospective local innovative sources of potash and fertilizer products.

The State Parliament of Minas Gerais together with Federal and State government institutions held public hearings on May 18, 2009. Concluding the hearings, government officials declared their intentions to establish development partnerships to support geological, metallurgical and agronomic efficacy work related to verdete slate.

In Brazil, public hearings are convened by representatives of government to discuss important issues of economic and social development. Relevant authorities and specialists are called upon to facilitate discussion, alongside other interested parties who are invited to contribute opinion. The public hearing was convened by Members of Minas Gerais State Parliament Mr. Delio Malheiros (President of the Commission for Public Administration) and Mr. Vanderlei Jangrossi (President of the Commission for Agricultural and Industrial Policy). Fertilizer is of special interest to the state of Minas Gerais where agribusiness contributed approximately $45 Billion to the state GDP in 2008. According to Mr. Antonio Carlos Arantes, member of State Parliament, "Fertilizer costs for farmers in the state have risen more than 500% in the past 14 years, while prices for the goods produced have increased on average less than 25%."

The hearing's conclusions delivered unanimous support for verdete slate, noting its potassium content, relative abundance and strategic location. The main actionable objective is stimulating the development of competitive fertilizer products in terms of effectiveness and price for the agricultural sector.

Brazilian professionals and authorities from private and public institutions attended the hearing including Mr. Sergio Barroso, Secretary of State for Economic Development of Minas Gerais; Mr. Renato Ciminelli, Executive Manager of the Center of Mineral & Metallurgic Excellence of the Secretary of Science, Technology and Higher Education of the State of Minas Gerais (SECTES); Mr. Lucas Carneiro, Director of Energy Resources of the Secretary of Agriculture, Livestock and Supply of Minas Gerais State; Mr. Paulo Sergio Machado Ribeiro, Sub-secretary of Mineral & Metallurgic Development and Energy Policy of the State of Minas Gerais; Mr. Marco Antonio da Fonseca, Regional Superintendent of the Company for Research of Mineral Resources; Mr. Jorge Raggi, Adviser of the Association of Mineral Industry of the State of Minas Gerais (SINDIEXTRA); Mr. Jose Geraldo Barbosa, Head of Plant Science Department of the Federal University of Vicosa; Mr. Marco Tulio Bocati, Manager of the Organization of Cooperatives of the State of Minas Gerais; Mr. Domingos Savio, Member of State Parliament of Minas Gerais; and others.

Mr. Renato Ciminelli, voiced support for government assisted development of verdete slate saying: "Definitely, verdete is a great solution for Brazil in terms of domestic production of potash. I understand that we are fully able to seek and develop technological solutions and complete studies for verdete and the generation of a new fertilizer. I think we have no other option for the State of Minas Gerais, but to embrace this opportunity and join in partnerships to accelerate development." Most notably Mr. Sergio Barroso and Mr. Lucas Carneiro also made comments recommending government involvement in fast tracked development of verdete slate.

The public hearing specifically validated the economic and social importance of Amazon's Cerrado Verde project located in the state of Minas Gerais, and political willingness was expressed for the establishment of partnerships to overcome technical challenges and to accelerate pilot-scale manufacture of ThermoPotash in the vicinity of Amazon's verdete slate occurrences.

On May 4, 2009, Amazon reported that Brazil's Centre for Mineral Technology (CETEM), a government sponsored research and development institute, had agreed to fund metallurgical tests on verdete rock from Amazon's Cerrado Verde potash project.

About Amazon

Amazon Mining, listed on the TSX Venture Exchange, is a mineral exploration company engaged in creating shareholder value via cost effectively advancing its portfolio of projects while diligently assessing additional value-adding opportunities. Amazon is preserving cash and adopting a highly conservative and risk mitigating approach to opportunity assessment and project development.

On behalf of the Board of Directors of Amazon Mining Holding Plc, Cristiano Veloso, President and CEO.

Cautionary Language and Forward Looking Statements

THIS PRESS RELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH INCLUDE BUT IS NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE FINANCIAL OR OPERATING PERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS, STATEMENTS REGARDING USE OF PROCEEDS, EXPLORATION PROSPECTS, IDENTIFICATION OF MINERAL RESERVES, COSTS OF AND CAPITAL FOR EXPLORATION PROJECTS, EXPLORATION EXPENDITURES, TIMING OF FUTURE EXPLORATION AND PERMITTING, REQUIREMENTS FOR ADDITIONAL CAPITAL, GOVERNMENT REGULATIONS OF MINING OPERATIONS, ENVIRONMENTAL RISKS, RECLAMATION EXPENSES, TITLE DISPUTES OR CLAIMS, AND LIMITATIONS OF INSURANCE COVERAGE. FORWARD LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED BY THE USE OF WORDS SUCH AS "PLANS", "EXPECTS", OR "DOES NOT EXPECT" OR "IS EXPECTED", "ANTICIPATES" OR "DOES NOT ANTICIPATE", OR "BELIEVES", "INTENDS", "FORECASTS", "BUDGET", "SCHEDULED", "ESTIMATES" OR VARIATIONS OF SUCH WORDS OR PHRASES OR STATE THAT CERTAIN ACTIONS, EVENT, OR RESULTS "MAY", "COULD", "WOULD", "MIGHT", OR "WILL BE TAKEN", "OCCUR" OR "BE ACHIEVED". FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SAID STATEMENTS. THERE CAN BE NO ASSURANCES THAT FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS.

The potential grades detailed in this release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the targets being delineated as a mineral resource.

Readers are cautioned not to rely solely on the summary of such information contained in this release and are directed to the complete set of drill results posted on Amazon's website (www.amazonplc.com) and filed on SEDAR (www.sedar.com) and any future amendments to such. Readers are also directed to the cautionary notices and disclaimers contained herein.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Amazon Mining Holding Plc
    Cristiano Veloso
    President & Chief Executive Officer
    +44 (0) 20 8133 7607
    +44(0)20 7405 7773 (FAX)
    cv@amazonplc.com
    or
    Amazon Mining Holding Plc
    Jed Richardson
    VP Corporate Development
    (416) 866-2966
    (416) 866-8829 (FAX)
    jed@amazonplc.com
    www.amazonplc.com