SOURCE: Perihelion Global

May 01, 2007 09:35 ET

Perihelion Global Receives Mining Permits From State of Utah Division of Oil, Gas & Mining; Engages AuRIC Metallurgical Laboratories of Salt Lake City, UT

WILMINGTON, DE and SALT LAKE CITY, UT -- (MARKET WIRE) -- May 1, 2007 -- Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced that the corporation has been granted a small mining operation permit by The State of Utah Division of Oil, Gas & Mining to allow to the company to start extracting precious metals contained within its Patent Claim #5797 located in Box Elder County, Utah. 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).

Further, the company announced that it has engaged AuRIC Metallurgical Laboratories of Salt Lake City, Utah, an internationally recognized and certified laboratory, to conduct extensive fire assays from samples taken from the patent claim #5797. An initial report sent to Perihelion Management confirmed the previous findings of Dr Y.S Kim and subsequent verification of John Yellich, Certified Geoligists, with regards to the quantity and valuation of the in-ground reserves of patent claim #5797. The two original assay reports citing and confirming the gold reserves are also available on www.perihelion.com for public viewing, and Perihelion encourages all current and prospective investors to review the materials uploaded to the www.pinksheets.com site under 'financial reports.' Perihelion is committed to making public all additional data regarding the mine, samplings, and valuations, as soon as it they become available.

"We are making tremendous progress to be able to extract the precious metal deposits from our Patent Claim," stated John H. Beebe, Chairman, Chief Executive Officer and President of Perihelion Global. Adds Beebe, "The results from the fire assays done in the laboratory by AuRIC is exciting news for our company and our shareholders and serves to confirm the valuation of precious metal deposits we have previously reported. Undoubtedly, it has been a lengthy process to get to this point and we appreciate the patience and faith of our shareholders. We firmly believe that the results of our efforts will benefit our company and shareholders for years to come."

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

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