Marengo Mining Limited

Marengo Mining Limited

June 26, 2008 00:05 ET

Marengo Opens the Toronto Stock Exchange

Paradigm Capital Initiates Research on Marengo

PERTH, WESTERN AUSTRALIA--(Marketwire - June 26, 2008) -


Marengo Mining Limited ("Marengo" or the "Company") (TSX:MRN)(ASX:MGO)(POMSoX:MGO) had the honour of opening the TSX markets on June 25, 2008. Managing Director, Les Emery was in Toronto to open the market and initiated the siren.

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Marengo listed on the Toronto Stock Exchange on April 15, 2008. It is also listed on the Australian Securities Exchange (ASX) and the Port Moresby, Papua New Guinea Stock Exchange, (POMSoX). Marengo has a 100% ownership in the Yandera Copper-Molybdenum Project in Papua New Guinea which it is developing.

Les Emery, Managing Director of Marengo Mining Limited, said, "We are very positive about our Yandera Project. We feel that the TSX, which has a history of support for, and a high level of understanding of the mining industry, is the place to be as we move the Project forward."

Paradigm Capital Inc., an independent Canadian investment dealer, has initiated research coverage on the Company.

"We are very pleased that Paradigm Capital has initiated Canadian coverage on Marengo and has a buy recommendation on the Company," he added. "The report and coverage, we feel, is positive confirmation of the status and importance of the Yandera Project."

Paradigm Capital is a research driven, independent, institutional equity investment dealer focused on sectors and companies that have attractive long-term secular growth projects. Paradigm Capital's research is available on its website at

Marengo Mining Limited is listed on three stock exchanges and is focused on developing its 100% owned Yandera Copper-Molybdenum Project in Papua New Guinea. It listed on the TSX in April 2008, and in May 2008 completed Phase 1 of a Definitive Feasibility Study. Phase 2 has commenced and is designed to give Marengo sound operational and financial outcomes upon which to base the development of the Yandera Project. It is scheduled to be completed by mid 2009.

About Marengo Mining Limited

Marengo Mining Limited (TSX:MRN)(ASX:MGO)(POMSoX:MGO) is an emerging, Australian-based international metals company which is focused on the development of its 100%-owned Yandera Copper-Molybdenum Project in Papua New Guinea.

A Definitive Feasibility Study ("DFS") is currently underway on the Yandera Project (previously reported JORC and 43-101 compliant Inferred mineral resource of 497 million tonnes at 0.48% copper equivalent and an Indicated mineral resource of 163 million tonnes at 0.49% copper equivalent). The DFS is due for completion by mid-2009.

The commencement of the DFS follows the completion of a Conceptual Mining Study during 2007, which confirmed the potential for a robust, long-life development of the Yandera Project, as a significant strategic source of copper and molybdenum for world markets.

This news release contains forward-looking statements. These forward-looking statements reflect management's current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. A number of factors could cause actual results, performance, or achievements to differ materially from the results expressed or implied in the forward looking statements. Such factors include, among others, future prices of copper and molybdenum, development and/or exploration activities, changes in project parameters as plans continue to be refined, and variations in ore grade or recovery rates.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares within the United States. The ordinary shares have not been offered and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws. Accordingly, the ordinary shares may not be offered or sold in the United States or to U.S. persons (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is granted.

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