SOURCE: PROM RESOURCES

PROM.OTC, Gold, Gold Mining

December 29, 2010 15:50 ET

Prom Resources Inc. (PRMO) Negotiate Interest in Gold Refinery

ORLANDO, FL--(Marketwire - December 29, 2010) - Prom Resources Inc. (the Company) (PINKSHEETS: PRMO) is pleased to announce negotiating interest in a gold refinery.

The company is currently negotiating, a minority interest in a gold and silver refinery. This move will assist the company in consolidating the gold bearing material it has on hand into a purer form when exported and optimize returns. The company expects to increase production and inventory in fiscal year 2011 and while continuing our program of selling gold material that was held back on our second quarter for tax reasons.

FORWARD-LOOKING STATEMENTS

This release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual financial or operating results of Prom Resources, Inc. and its subsidiaries, including Madagascar Gold. and Gems, LTD., a Ghana corporation, Saowani development SARL, Stones and Wood Corporation SARL., both Madagascar corporation (hereafter collectively referred to as "the Company," "we," "our" or "us") to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. The words or phrases "would be," "may allow," "intends to," "may likely," "are expected to," "may continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Such statements include those concerning our expected financial performance, our corporate strategy and operational plans. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties, including: (a) competition in the mining industry, and the ability to purchase form artesian miners; (b) whether we are able to manage planned growth efficiently, including whether management will be able to identify, hire, train, retain, motivate, and manage required personnel or that management will be able to manage and exploit existing and potential market opportunities successfully; (c) whether we are able to generate sufficient revenues or obtain financing to sustain and grow operations. All the agreements of subsidiaries have entered into should not be construed by any means whatsoever as having any impact on or a reflection of the Company's future stock price or future financial.

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