SOURCE: Hidalgo Mining International

Hidalgo Mining International

February 25, 2009 13:52 ET

Hidalgo Mining International (HMIT) Announces Approval of $3 Million in Debt Financing

NEW YORK, NY--(Marketwire - February 25, 2009) - Hidalgo Mining International ( (PINKSHEETS: HMIT), an innovative mining company headquartered in Port Washington, N.Y., announced that an Investment Banking Group from New York City has gone to committee and approved $3 million in funding for the Company's production efforts in West Africa.

Mark Daniel Klok, President of HMIT, stated: "Management from a prominent Investment Banking Group in New York City has gone to committee and completed the final approval on $3 Million in debt financing to Hidalgo Mining International subject to a legal opinion from the Firm's counsel on the validity of the mining licenses and effectuating a lien on the equipment and mining licenses to facilitate said financing. The Investment Banking Group has requested that we do not disclose the name of the Firm until the closing is complete, which is anticipated in March."



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. 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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