SOURCE: Siguiri Basin Mining Inc.

April 16, 2007 08:00 ET

Siguiri Basin Mining Inc. (SBMI) Signs Joint Venture With Consolidated Mining Inc.

MIAMI, FL -- (MARKET WIRE) -- April 16, 2007 -- Siguiri Basin Mining Inc. (PINKSHEETS: SBMI) is now an exploration and Development Company focused on world-class properties with near term production potential. The terms of the joint venture include an exchange of property for cash and stock from Siguiri. The properties include 5 miles of the Tinkisso river located in Guinea. A dredging permit was granted on August 9, 2002 for a period of 10 years. The permit is renewable in incremental five-year periods. It awarded the exclusive right to mine for gold and related minerals in the bottom sediments of the Tinkisso River.

In addition to The Tinkisso river project, the Fifa land prospecting permit is located in the northwest corner of the Siguiri Basin, approximately 88 kilometres west of the town of Siguiri and approximately 65 kilometres west of the Siguiri gold mine operation that is owned and operated by AngloGold Ashanti. The Fifa land prospect is on the same geological structure as the AngloGold Ashanti property and is more than 25 square miles in size.

ABOUT THE COMPANY

Siguiri Basin Mining Inc. (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.

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