SOURCE: Siguiri Basin Mining, Inc.

May 14, 2007 10:29 ET

Siguiri Basin Mining, Inc. (Pink Sheets:SBMI) Addresses Share Structure; Announces No Reverse Split Planned

CORAL GABLES, FL -- (MARKET WIRE) -- May 14, 2007 -- Siguiri Basin Mining, Inc. (PINKSHEETS: SBMI) has directed that its stock structure information be updated to reflect the total outstanding share amount of 705 million shares. The Company believes the current share price does not adequately reflect the value of its joint venture with Consolidated Mining and Minerals. However, at this time the Company has decided not to affect a reverse split; instead, SBMI will continue to concentrate its efforts on achieving producer status in the coming weeks.

The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contain statements that are forward looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statement.

ABOUT THE COMPANY

Siguiri Basin Mining, Inc. (PINKSHEETS: SBMI) is a mineral exploration and development company focused on achieving producer status. The Company's targets are precious metal properties in stable countries within opportunity rich West Africa, Central and South America with near term production capabilities. www.sbmining.com

Contact Information

  • For further information contact:
    Rich Kaiser
    YES International
    1-800-631-8127
    001-757-306-6090 (outside North America)
    Email: yes@yesinternational.com