SOURCE: Hidalgo Mining International

November 18, 2008 08:55 ET

Hidalgo Mining International (HMIT) Advisory Board Issues Statement

NEW YORK, NY--(Marketwire - November 18, 2008) - Hidalgo Mining International ( (PINKSHEETS: HMIT) issued the following statement from Hidalgo's advisory board addressing the gold market conditions and price trend. Robert Howie, advisory board member for Hidalgo, released the statement regarding the volatility of gold and silver prices and the recent bottom established during the current downturn in the metals commodities markets. Mr. Howie stated, "The current values of gold and silver have nowhere to go but up. The upward trend of gold and silver prices went unchecked until recently abated by the temptation to sell at the recent new highs. The majority of this selling pressure is resultant of the cash crunch faced by European Union countries and others suffering currency problems in the global economic crisis. The pressure on silver and gold is intense and volatile, but nowhere near future highs. As currencies and markets unwind, dealers and national treasuries have resorted to selling under the pressure of shortages in operating capital, resulting in price volatility, but even amidst this pressure if you place an order for physical gold bullion, or silver bars or ingot, almost all mints and refineries will tell you that they have a three month waiting list and that the wait is only growing. So, despite selling pressures, individual investors, organizations and some nations like India (the world's largest user and hoarder of precious metals) continue to purchase more than ever. These new lows in precious metals and related industry pricing represent but a temporary lull in an otherwise increasing trend. The result is that volatility now in precious metals prices, represents a huge opportunity for investment, with long term price enhancement that will benefit Hidalgo Mining International and other precious metals companies, particularly when world currencies begin to stabilize."


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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