SOURCE: Hidalgo Mining International

January 30, 2008 12:01 ET

Hidalgo Mining International (HMIT) Acquires D.S. Moss Properties, LLC

NEW YORK, NY--(Marketwire - January 30, 2008) - Hidalgo Mining International (PINKSHEETS: HMIT), an innovative mining company headquartered in Port Washington, NY, announced today that the company has completed the acquisition of D.S. Moss Properties, LLC, in exchange for an undisclosed number of Common Shares of HMIT.

D.S. Moss Properties, LLC (DSMP), a New York Limited Liability Corporation, holds the rights to gold mining assets in Guinea, West Africa, through its relationship with Hamilton Mining and Marketing SARL, a West African company.

Mark Klok, President of HMIT, has stated: "Acquiring DSMP follows the exploration plan of the company and increases our current property size from 5 kilometers to 20 kilometers total. This acquisition is part of the growth plan being implemented to achieve long-term production sustainability as Phase I of this project starts this season. We are excited to see high-grade results from the bulk sampling and production on the gold rich property in this region. Previously we have seen some testing results as high as 28.8 grams per meter cubed and look forward to be able to produce consistently at an average grade of 1 gram per meter cubed or higher if possible. From an operational standpoint, our first shipment of equipment left the port in Wilmington, NC last week and is scheduled to arrive in Guinea within the next 10 days. We have also begun the mobilization of our mining team to begin prepping the mining site for production once the equipment arrives."

ABOUT D.S. MOSS Properties, LLC

DSMP is an international mining company with the rights to 15 contiguous kilometers of gold mining property on the Tinkisso River in Guinea West Africa, focused on becoming an intermediate sized gold producer.

ABOUT THE TINKISSO PROJECT

The Tinkisso Mining Permit was granted to Hamilton Mining and Marketing SARL in January 2004. The permit is renewable in incremental five-year periods. It awarded Hamilton Mining and Marketing SARL the exclusive right to mine for gold and related minerals in the bottom sediments of the Tinkisso River. The Tinkisso River dredging permit delineates a 56-kilometer ribbon along the Tinkisso River and covers 150 meters of potentially gold rich sediments on both sides of the main river channel. Located in the heart of gold rich Siguiri Basin, the Tinkisso River is a major tributary of the Niger River, the largest river in West Africa, which flows to the east. With several feeder streams, known to carry gold mineralization, the Company believes that the Tinkisso River permit has the potential to become a short-term gold producer from the dredging of loose sediments at the bottom of the riverbed. The Tinkisso River is approximately 500 meters in width; the Tinkisso River valley is host to at least four levels of sedimentary terraces. The surrounding plain is highly dissected by numerous tributaries draining into the river and forming flat bottom valleys.

HISTORIC EXPLORATION

Between 1909 and 1949, French colonials prospected and dredged a stretch of the Tinkisso River approximately 25 kilometers downstream from the Tinkisso River dredging permit area. During that period approximately 9,646 ounces of gold were extracted from the loose sediments of the Tinkisso River. A review of past records revealed that up to 60% of the recoverable gold was lost due to a poor recovery circuit. Furthermore, when mining was suspended in1947, the operator left behind approximately 4,310 ounces of un-dredged gold resource a few kilometers from the Tinkisso River dredging permit area.

ABOUT HIDALGO MINING INTERNATIONAL

Hidalgo Mining International (PINKSHEETS: HMIT), an innovative mining company headquartered in Port Washington, NY, strives to increase shareholder value, while implementing aggressive plans to continue targeting near term mining production projects on a global scale. HMIT's management and directors hold an abundance of experience and knowledge 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 are 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.

Contact Information

  • CONTACT:
    Mark D. Klok
    Hidalgo Mining International
    (305) 778-8360