PROM.OTC, Gold, Gold Mining

March 01, 2011 13:00 ET

Prom Resources, Inc. (PRMO) Purchases Minority Interest in a Gold Refinery

ORLANDO, FL--(Marketwire - March 1, 2011) -  Prom Resources, Inc. (the Company) (PINKSHEETS: PRMO) is pleased to announce that they have successfully completed the purchase of a minority interest in a gold refinery. The details of the interest will be released within a timely manner, according to the delimitative agreement.

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 acquiring minority interest in small operation throughout Africa.

"As the price of Gold continues to achieve some all time highs, we feel that this acquisition in a refinery will strategically place the company for future growth and assurance of prospective ore baring interests globally," said Mr. Dror Moradov, president and CEO of the company.


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. 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. Nothing should 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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