SOURCE: Grand Pacaraima Gold Corp

February 11, 2009 14:44 ET

Nadir Energy and Mining Corp. Acquires Controlling Interest in Grand Pacaraima Gold Corp.

LONDON--(Marketwire - February 11, 2009) - Grand Pacaraima Gold Corporation (PINKSHEETS: GPGD) announced today that a majority of all its issued and outstanding shares have been acquired by Nadir Energy and Mining Corp. (PINKSHEETS: NADI) (FRANKFURT: 3FJ). Members of the Castora family from Venezuela and other investors have accepted this exchange. Chairman and President Abdoumalik Abdoulladjanov of Nadir Energy and Mining Corp. and Chairman of Grand Pacaraima Gold recently stated, "We are excited to add Grand Pacaraima Gold's valuable assets to Nadir Energy and Mining Corporation's growing asset base. We look forward to developing these assets into a cash flow, which is a positive addition to our portfolio. This transaction also increases and diversifies the holdings of our shareholders."

Grand Pacaraima Gold Corp. (PINKSHEETS: GPGD) has interests in four gold mines in Venezuela which are the Cerro Trompa, San Miguel, Mosquito and Zapata. Metallurgica de Mineras S.A. has previously sampled and assayed these four mines indicating they contain recoverable gold reserves of 3.6 million ounces and indicated reserves of 5 million ounces. Nadir Energy and Mining Corp. (PINKSHEETS: NADI) also owns other natural resources which are located in Canada including a substantial iron ore property along with certain reserves in Russia.

Safe Harbor Statement

Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions. These statements are subject to uncertainties and risks including, but not limited to, economic conditions, the impact of competition and pricing, government regulation, and other risks. All forward-looking statements made by or on behalf of the Company are qualified. The Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact Information