PGM Ventures Corporation

PGM Ventures Corporation

March 07, 2005 16:19 ET

PGM Ventures Corporation: Press Release


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PGM VENTURES CORPORATION

TSX VENTURE SYMBOL: PPG

MARCH 7, 2005 - 16:19 ET

PGM Ventures Corporation: Press Release

TORONTO, ONTARIO--(CCNMatthews - March 7, 2005) - PGM Ventures
Corporation (TSX VENTURE:PPG) - PGM Ventures Corporation ("PGM") is
pleased to announce that by making a payment of EUR 650,000
(C$1,055,000) for new equity of Minas Aguas Tenidas SA ("MATSA"), the
100% owner of the Aguas Tenidas mine in SW Spain, PGM has now earned
into a 70% interest in MATSA.

A further 10-15% interest in MATSA will be earned by placing the mine
into commercial production, and the 15-20% balance can be purchased for
EUR 1,500,000 - EUR 2,000,000 by the issue of PGM shares from treasury.

Drill hole ATW-7, the latest hole in the Aguas Tenidas surface drilling
program, intersected 60 metres of massive sulphide at a depth of 697 to
757 metres. This hole is located 650 metres west of the main Aguas
Tenidas mineralized system and is interpreted as being an extension of
that system. Assay results from this drill hole are expected in
approximately two weeks time.

This press release includes certain "Forward-Looking Statements" within
the meaning of the US Private Securities Reform Act of 1995. Other than
statements of historical fact, all statements are "Forward-Looking
Statements" that involve such various known and unknown risks,
uncertainties and other factors. There can be no assurance that such
statements will prove accurate. Results and future events could differ
materially from those anticipated in such statements. Readers of this
press release are cautioned not to place undue reliance on these
"Forward-Looking Statements". All dollar amounts are Canadian dollars
unless otherwise noted.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    PGM Ventures Corporation
    Jim Voisin
    (519) 699-5352
    www.pgm-ventures.com
    The TSX Venture Exchange Inc. has neither approved nor disapproved the
    information herein contained.