SOURCE: Silver Falcon Mining

May 05, 2008 04:15 ET

Silver Falcon Mining, Inc. (SFMI) Granted Additional Mining Rights, Report Indicates "Hot-Zone"

BRADENTON, FL--(Marketwire - May 5, 2008) - Silver Falcon Mining, Inc. (PINKSHEETS: SFMI) announces an additional mining lease grant for 1,700 acres from Gold Corp. Holdings, Inc. This additional lease has been added to the amended mining lease agreement, as reported on April 21, 2008, at no additional earn-in cost. Silver Falcon, under 15 year contract, has the mining rights to extract gold, silver and other minerals on War Eagle Mountain, Idaho.

Prior to this agreement, Gold Corp. shared reports with SFMI's management on this additional acreage.

An analysis of War Eagle Mountain was written by Barrett Cupp, at the time a Senior Geologist for Kinross Gold Co., which states, "Should exploration be initiated on War Eagle Mountain, I would fully expect them to encounter high grade silver and gold mineralization. The veins in the Mountain have not been fully exploited with respect to length or depth. My experience in the district caused my opinion to be very favorable toward the War Eagle Mountain target and any new exploration ventures should be focused on War Eagle Mountain if a large scale project is the desired goal in this mining district."

An independent drilling program was also conducted by Nerco, Inc., and a "Hot-Zone" was discovered as a result of a structural study based on color air photos. This report states, "A prominent east-west lineament was observed. A total of 49 holes were drilled in the areas between the Poorman Vein, the Afterthought Vein, and the Cornice Basin (Cornice Zone), with samples taken at 5-foot intervals. A majority of the drill-holes intersected mineralized zones, ranging from 5-45 feet in width. Gold and Silver content ranged up to .62 opt Gold and 8.48 opt Silver per ton. Considering the random pattern in which the holes were drilled, and the intervals of samples, exploration has succeeded in demonstrating the potential for medium-to-high grade underground deposits to be excellent."

Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc., said, "We are definitely excited with the attention that War Eagle Mountain has attracted from the mining communities and we have determined that it would be in Silver Falcon Mining's and the shareholders' interest to accept these additional mining claims to the contract."

A map of these additional claims can be found at www.silverfalconmining.com.

For more information, contact Rich Kaiser, Investor relations, 800-631-8127 and/or SFMI, 941-761-7819.

Silver Falcon Mining cautions that statements made in this press release constitute forward-looking statements, and no guarantees of future performance and actual results or developments may differ materially from projections in the forward-looking statements. Forward-looking statements based on estimates and opinions at the time the statements are made.

Contact Information

  • For more information, contact
    Rich Kaiser
    Investor Relations
    800-631-8127
    and/or
    SFMI
    941-761-7819