SOURCE: Perihelion Global

March 20, 2007 09:42 ET

Perihelion Global Acquires 251 Acre Parcel From Meridian Land and Minerals, LLC Near Company's Patented Gold Mine

WILMINGTON, DE and SALT LAKE CITY, UT -- (MARKET WIRE) -- March 20, 2007 -- Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, announced that the corporation has acquired 251 acres of land, including mineral rights, from Meridian Land and Minerals, LLC located near the company's Patent Claim #5797 located in Box Elder County, Utah. The 251 acre parcel is located approximately 1.5 miles from the company's Patent Claim # 5797 and has active rail service, electricity, and water. Patent Claim #5797 has been assayed in separate geological reports to have 1,277,950 oz of Gold deposits, currently worth in excess of $745 Million USD ($745,000,000.00).

"This parcel of land will allow us a tremendous amount of flexibility in our operations," stated John H. Beebe, Chairman, Chief Executive Officer and President of Perihelion Global. "The 251 acre Meridian Parcel has existing rail service, electrical power, and water on site, and multiplies our available options for extracting and transporting gold and other precious metals and minerals."

The 251 acre Meridian Parcel is in addition to 900 acres of mining claims the company successfully filed for in November 2006 and March 2007 that surround Patent Claim #5797. The Meridian Parcel, Patent Claim # 5797 and the surrounding claims on 900 acres are located in Box Elder County, Utah, Township 6N Range 19W approximately 8 miles east of Montello, Nevada in the Lucin Mining District in the West Salt Lake Base. Financial consideration to Meridian Land and Minerals, LLC for the 251 acre parcel will consist of a cash down payment, a promissory note payable over 5 years and restricted stock. The transaction is expected to close within the next 14 days and will give Perihelion Global direct ownership or control of mineral rights on over 1,200 + acres in the Lucin Mining District in Nevada and Utah. Investors will be provided documentation on this transaction on both the http://www.pinksheets.com site and Perihelion's website.

Beebe also gave a second update on the status of the mining permit filed previously. Stated Beebe, "We recently received notice from the State of Utah, Division of Oil, Gas & Mining regarding items in our mining permit that the State requested further clarification on. We have provided the State written clarification on the items requested and anticipate that our mining permit will be granted approval without any further delays."

About Perihelion Global:

Perihelion Global focuses on the acquisition, development and management of technologies and strategic commodity reserves in the energy, natural resource and advanced communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century in environments that are mission critical in the global marketplace. For more information, visit: www.perihelion.com

Caution Regarding Forward-Looking Statements

This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

--  General economic conditions, either nationally or in our market
    area, that are worse than expected;

--  regulatory and legislative actions or decisions that adversely
    affect our business plans or operations;

--  price competition;

--  inflation and changes in the securities markets that adversely
    affect the fair value of our operations; and

--  changes in our organization, compensation and benefit plans.
We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

  • Contacts:
    John H. Beebe
    Chairman, Chief Executive Officer & President
    Perihelion Global
    866-748-7610 (Toll Free) x 719
    john@perihelion.com