SOURCE: AZHA Mining Corporation

AZHA Mining Corporation

August 04, 2009 09:16 ET

AZHA Mining Mobilizing the 2nd Gold Rush, Large Scale Mining Permit Near Completion, AZHA to Issue Dividends; AZHA CUSIP No. Y0529N 104

WILMINGTON, DE--(Marketwire - August 4, 2009) - AZHA Mining, formerly ZNext Mining Industries, Inc. (PINKSHEETS: ZNXT) (OTC Preferred: ZNXPP), announces today that AZHA's small scale mining mobilization operation is moving forward as the gold rush team just constructed a makeshift house over the mine shaft getting ready for the mining operation. Tunnel Mining equipment is on order: (a) high head 2 submersible water pumps to be used in de-watering the mine; (b) Electric power transformer single phase 75 kva; (c) Power generator 75 kva (backup power in case of brownout); (d) Air compressor 10 bar capacity; (e) 2 sets rock drill; (f) 2 sets tiger hoist; (g) 3 sets high capacity submersible pumps.

UPDATES

--  The MPSA or Large Scale Mining Permit is nearing completion. Estimated
    completion is Winter of 2009.
--  XYZ Ore Crushing plant site is being cleared and prepared, with the
    construction of the staff house on the land fully owned by AZHA Mining in
    Bayombong, Masbate, just outside the XYZ Mine Site.
--  DIVIDENDS ISSUANCE: AZHA Mining is still committed to issuing the
    promised Dividends of 50 ZNXT: 75 AZHA Common as Dividends (25 Unrestricted
    & 50 Restricted Common stocks of AZHA) to all ZNXT Beneficial Shareholder.
    The Dividends Distribution is expected to commence on August 19, 2009. Bear
    in mind that this Dividend Distribution is NOT a typical Forward or Reverse
    Split.
--  AZHA should soon have its own stock Symbol. AZHA's New CUSIP# Y0529N
    104 / ISIN # PHY 0529N 1047
--  AZHA Mining Corporation included all of the Philippines mining assets
    and the ZNXT common stockholders, excluding the Preferred Stockholders
    (Symbol: ZNXPP) and any ZNXT or PAIM liabilities.
--  AZHA Board has resolved and passed that ALL Preferred Stock of ZNext
    Mining (Symbol: ZNXPP) will be automatically converted to Common Shares of
    Pearl Asian Mining Industries, Inc. -- a Canada Corporation to have its own
    CUSIP # and Stock Symbol. The Board had passed the conversion factor of:
    1:10,000 Ratio. (1 ZNXPP = 10,000 Pearl Asian Canada - Common Shares). That
    means that every 1 ZNXPP held will be converted to 10,000 Common Shares of
    the Pearl Asian Mining Industries, Canada Corporation. (Details to follow).
    

AZHA is advising all the ZNXT Shareholders to be encouraged in the future of the company while it is now in the best position to bring forth the best return on the investments for all the former Pearl Asian Mining or ZNext Mining Shareholders/Investors.

The AZHA Board is re-assuring all of the ZNXT shareholders that AZHA's preferred approach and mining implementations are working well thus far to bring this mining company into production and profitability, thus benefitting all the interests of the ZNXT Shareholders and as future AZHA Shareholders.

ABOUT THE COMPANY

AZHA Mining Corporation, Inc is a Philippines mining company engaged in the exploration, development of new and underdeveloped mine sites. The company focuses primarily in the mining and final production of gold, silver and other precious metals. AZHA was assigned the 100% of PEARL's Mineral Production Sharing Agreement (MPSA) for the issuance of the large scale mining permit, that was filed in Region V since 2004; These include all of PEARL's Assets such as gold-silver mining and other mineral explorations, development and production.

FORWARD STATEMENTS;

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs, mining and development risks; the risk of commodity price fluctuations; political and regulatory risks, and risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • CONTACT:
    Investor Relations
    Luis Madamba
    Phone # USA (888-498-0001)
    e-mail: Email Contact