SOURCE: Hidalgo Mining International

Hidalgo Mining International

May 04, 2009 11:41 ET

Hidalgo Mining International (HMIT) Announces Work Programs Scheduled on Silver Leaf and Gold Hill Projects

NEW YORK, NY--(Marketwire - May 4, 2009) - Hidalgo Mining International, Inc. (PINKSHEETS: HMIT) ("Hidalgo" or the "Company") announced today that the initial work programs on the Silver Leaf and Gold Hill Project joint ventures with North Bay Resources Inc. are now scheduled to begin by July 30th, 2009, under the direction of Mr. Robert Howie, BSc. (Eng).

The Silver Leaf Property is located near Slocan, British Columbia, and includes the past-producing Silver Leaf, Riverside, Slocan Prince, Anna, Hampton, Bondholder, Dumac, Westmont, Neepawa, and Mabou mines. As documented in British Columbia government records known as MINFILE, previous mining operations at the Silver Leaf mine produced an average of 598 grams (19.2 ounces) per tonne silver, and the Riverside produced an average of 1,534 grams (49 ounces) per tonne silver. Past production from the Slocan Prince and Hampton mines averaged 10,000 grams (321 ounces) and 16,817 grams (540 ounces) per tonne silver, respectively. A more recently discovered vein documented in Assessment Report 23054 reports assays as high as 657 ounces per tonne silver. The Silver Leaf Property also includes the rights to the surface ore dump from the nearby Arlington mine. According to BC MINFILE 082FNW152, this surface ore represents proven reserves of 43,114 tonnes at 15.68 ounces per tonne silver, or 676,238 ounces of silver.

The Gold Hill Project covers over 5,000 acres near the village of Salmo in southeastern British Columbia. The property includes the former Gold Hill mine, and the area surrounding the Silver Dollar-Lucky Boy mines. The Gold Hill mine's past production averaged over 29.47 grams (0.95 ounces) per tonne gold and 54.11 grams (1.74 ounces) per tonne silver, while production figures from the Silver Dollar and the Lucky Boy workings averaged 9.39 grams per tonne gold and 335 grams (10.78 ounces) per tonne silver. The property also encompasses the historic Erie-Arlington mine, where a surface ore dump is documented in MINFILE 082FSW205 as hosting 113,000 tonnes of discarded ore from previous operations, and from which samples assayed between 3 and 53.5 grams of gold per tonne.


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 Internationals' 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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