Amazon Mining Holding Plc
TSX VENTURE : AMZ

Amazon Mining Holding Plc

June 02, 2008 07:27 ET

Amazon Reports Q1 2008 Results

TORONTO, ONTARIO--(Marketwire - June 2, 2008) -

Attention Business/Financial Editors:

Amazon Mining Holding Plc (TSX VENTURE:AMZ) ("Amazon" or the "Company") today announced its unaudited interim consolidated financial statements for the three-month period ended March 31, 2008.

For the three-month period ended March 31, 2008 the net loss increased to (pnds stlg)460,707 from a loss of (pnds stlg)86,269 compared to the three-month period ended April 30, 2007. The loss widened in Q1 2008 due to the commencement of active exploration activities late in December 2007.

Overview of the first three months of 2008:

- Completed first phase of a diamond drilling program on the Tocantins concession

- Commenced first phase of a diamond drilling program on the Lavras concession

- Exploration expenditures conducted throughout Q1 2008 on the Company's gold projects aggregated to (pnds stlg)442,070

- Oscar Yokoi was appointed Vice President Exploration in February 2008

- Administrative expenses increased quarter over quarter due to increased salaries and office set-up costs associated with ramping exploration activities in the Brazilian subsidiaries

- The Company ended the period with a working capital position of (pnds stlg)6,091,485

About Amazon

Amazon is listed on the TSX Venture exchange and is a mineral exploration company engaged in acquiring and developing gold exploration properties in Brazil. Its strategic focus is to acquire projects with demonstrated potential for hosting gold deposits and to define resources through exploration and drilling campaigns.

On behalf of the Board of Directors of Amazon Mining Holding Plc,

Cristiano Veloso, President & Chief Executive Officer

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.

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