Samaranta Mining Corporation

Samaranta Mining Corporation

February 22, 2013 08:40 ET

Samaranta Cleans House to Build a Stronger, Better Company

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2013) - Samaranta Mining Corporation (TSX VENTURE:SAX) (the "Company") announces that as set out in our previous news release of February 19, 2013, we confirm that the Board received Volkmar Hable's resignation as a director of the Company on February 12, 2013. At this time, the Company wishes to advise that Mr. Hable has been terminated as the Company's Executive Vice-President, Mining and Exploration effective immediately.

"As the new board members slowly take charge of Samaranta and get the projects moving, we are making significant changes to add shareholder value," commented Interim CEO, Dan Fish. "We are interviewing new candidates for the Board and new technical people to fill the VP role, as well as reviewing new potential business ideas to diversify the Company and add shareholder value moving forward."

About Samaranta Mining Corporation

Samaranta is a mineral exploration and development company actively exploring for gold and precious metals in Colombia. The Company's primary focus is the Guadalupe gold property that is contiguous with the Frontino Gold Mine ("Frontino"). Frontino is currently the largest gold mine in Colombia and has been in operation for over 150 years with historic production estimated at 7 million ounces. Samaranta is the first company to explore the Guadalupe property using modern exploration techniques.


Dan Fish, Interim CEO

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. In particular, this document contains forward-looking information and statements regarding a potential for increase in shareholder value, the potential new Board and executive candidates and the potential for new business ideas and opportunities which may bring diversity to the Company.

These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control, including actions of third parties, changes in laws and regulations, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. Readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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