SOURCE: ZNext Mining Corporation

November 12, 2008 14:52 ET

Progress on Canada Wolf Lake Gold Project: ZNext Mining Issues Dividend to Common Stockholders

ZNext to Reincorporate to Philippines to Increase Holdings

VANCOUVER, BC--(Marketwire - November 12, 2008) - ZNext Mining Industries, Inc. with Stock Symbols: (PINKSHEETS: ZNXT) (OTC Preferred: ZNXTP) announces that ZNXPP will be the new symbol for ZNext Mining Preferred Stocks after the 1,000:1 Reverse Split.

This corporate action will take effect at the open of business 11/13/2008. The new symbol for the preferred stock on this date will be ZNXPP. And the new CUSIP # is 98975U 405 and the ISIN Number = 98975U 4058.

The common stock symbol and CUSIP Number will remain ZNXT.

In addition to the above corporate action, NASDAQ will announce a common stock dividend of 1 post-split preferred share for each 1,000 common shares held on today's Dividends Daily List as follows:

Record date:    11/12/2008
Payment date:   11/13/2008
Ex date:        11/14/2008

ZNext will reincorporate to the Philippines so that the mining interests now only at the 40% level can and will be increased to 100%.

ZNext is budgeting an estimated $75,000.00 USD for the Phase I Exploration Stage of its Wolf Lake Gold Project. The company hired Laird Exploration Ltd. led by its Manager, James Laird and Project Geologist, Greg Thomson, P.Geol.

Laird Exploration team travelled to the Wolf Lake Property located near Courtenay on Vancouver Island, BC, from March 26 to 28, 2008. An examination of the property was made to determine the current status of the known gold showings and logging road access, assisted in planning and budgeting of the 2009 fieldwork program. A rare late snowfall prevented field access on March 28th; however, fieldwork may proceed at anytime due to a seasonal warming trend. The total kilometres of grid lay-out with 25-metre sample stations on lines 50 metres apart, remains to be determined by plotting; however, an approximate total distance of 10 kilometres of grid is anticipated. Soil sample collection costs and slope-corrected grid establishment are estimated to be Can. $2000.00 per line/km. Sample costs per soil sample with ICP base metals and fire assays for precious metals, sample preparation and handling, are anticipated to be approximately Can. $40.00 per sample (Chemex Labs, North Vancouver, BC).

Recent logging has taken place on the north side of Wolf Creek in a very prospective area for new gold deposits. New road building has uncovered a new showing containing low-grade disseminated visible iron, zinc and copper mineralization, and a general grab sample was taken for assay to determine the gold and silver content. The highly altered basaltic host rock is heavily iron-stained, and is exposed for about 10 metres in length and 5 metres in width. Shallow overburden covers immediate extensions, but it is likely that it encompasses a much larger area. If the new showing contains potentially economic amounts of gold and silver for high-grade or bulk-tonnage mining, trenching is recommended and can be easily facilitated.

The recent clear-cutting of this highly prospective area of the property together with a new mineral discovery and current great road access clearly demonstrated the need for an advanced exploration program. In order to thoroughly explore the exposed land area prior to replanting with young trees by the involved timber company, Timber West Ltd., we need to move fast. Harsh financial penalties are associated with re-plantation of newly-planted trees, so the budget timing and design of an effective exploration program must reflect this.

A Phase 1 plan to delimit the new surface exposures of mineralized areas by prospecting, geological mapping, hand-trenching and rock sampling, and to test the grid soil geochemistry is the best way to determine the next course of action, prior to permitting Phase 2 trenching, geophysics and drilling. A flagged, slope-corrected grid with UTEM GPS tie-ins is recommended.

Geophysical costs remain to be determined by the consultant's bid, following crew grid construction and a field inspection by the bidder. Trenching and drilling cost will also be by bid.

A milling sample of approximately one metric tonne is available from loose surface material at the Lake Zone. A bulk sample should be collected in suitable ore-bags and submitted to a proper mill-testing facility to test for total recoverable metal value and processing costs. Costs to collect this sample are estimated in the budget, subject to revision. The following budget is an estimate based solely on current estimated costs of services, not a fixed-price estimate.

2009 Phase 1 Budget Estimate Covers: Grid and soil sample collection, 10 kilometres @ $2000.00 per line-kilometre= $20,000.00; Geological mapping, supervision and report writing, 10 days @ $500.00 per diem=$5000.00; Project management, report writing and prospecting, 10 days @ $500.00 per Diem=$5000.00; Soil sample assays -- 400 @ $40 per sample = $16,000.00; Collecting and packaging 1 tonne bulk sample=$2500.00; Crew room and board, 4 x 10 days @ $150.00 per day =$6000.00 Vehicle Costs -- 5000 km @ $0.75 per km= $4250.00; BC Ferries Costs= $400.00; Permitting, mapping and drafting costs = $3000.00 Subtotal = $62,150.00 Plus Lairdex Management Fee @ 15%= 9322.50 = $71,472.50; GST at 5%, GST No. 89003 0133 RP 0001= $3573.63 giving the total estimated cost of $75,000.00 USD.


ZNext Mining Corporation, Inc. is an international mining company engaged in the exploration and commercialization of new and underdeveloped mine sites, primarily gold and other precious metals. Twelve (12) mining claims in British Columbia, Canada are owned 100% by ZNext Mining. (aka PEARL). Additionally, under a Philippines Mineral Production Sharing Agreement (MPSA) with the government of the Republic of the Philippines, ZNext Mining owns 40% of the PEARL, a Philippines domestic private company, that through aggregation of manpower and production among small-scale miners and indigenous peoples, ZNXT intends to capitalize on economies of scale in gold and silver extraction, processing and commodities trading. ZNext Mining Corporation, Inc. is committed to the implementation of sustainable green technologies to achieve fiscal strength based on the principal of Profit-People-Planet. Management continues to focus on achieving profit, while conducting business with utmost consideration and compassion for people and protection of our planet and the environment.


Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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