SOURCE: Sungro Minerals, Inc.

March 03, 2010 17:31 ET

Sungro Minerals Announces the Commissioning of an Independent 43-101 Style Report on the Conglomerate Mesa Property, Inyo County, California

WARWICK, RI--(Marketwire - March 3, 2010) -  Sungro Minerals, Inc. (OTCBB: SUGO) today is pleased to announce the Company has commissioned a review and evaluation of the Property which will be completed by an Independent Registered Professional Geologist, a "Qualified Person" as defined under the Canadian NI 43-101.

Randall Moore, acting as an independent "consultant" to the company, has been asked by the Board of Sungro to begin work on a 43-101 style report by compiling all of the historic data and conducting initial field investigations for data verification. Mr. Moore has an extensive background in mineral exploration with over 30 years of experience and is a Registered Professional Geologist and a "Qualified Person" as defined under NI 43-101. He has been working as the Executive VP of Exploration for High Desert Gold Corporation and is the Former VP of Exploration for General Minerals. He worked as the senior geologist for Cambior Exploration USA out of Reno, Nevada and has spent time with, St. Joe Gold, Duval (Pennzoil mining division) and Noranda Mining.

The Conglomerate Mesa Project consists of 341 unpatented lode mining claims covering approximately 6,800 acres (2,750 hectares) in Inyo County, California and is a structurally and stratigraphically controlled sediment-hosted gold system similar to the "Carlin-type" deposits of north-central Nevada. The property has been the subject of past gold exploration by several companies, including Newmont Mining Corporation and BHP Billiton. The previous work included mapping, surface sampling, and drilling, the results of which are available to the Company. The work by these companies has produced significant gold values in drill intercepts which are open to expansion, and has also defined several targets which have but not yet been drilled. Initial work by the Company will focus on these areas of known gold mineralization with the ultimate goal of developing gold resources.

All data will be compiled, reviewed and evaluated by Sungro Mineral's consultant for the purpose of completing a comprehensive report. This report will include recommendations for moving the property forward and be completed to the NI 43-101 standards. SUGO will be utilizing the review and the recommendations from the report to design and implement exploration and drill programs for 2010 with the intent of continuing to define and expand areas of gold mineralization.

SUGO is excited with the commissioning of this 43-101 style report as it will represent the start of the exploration of this high quality gold system.

About Sungro Minerals, Inc.

Sungro Minerals, Inc. is an early stage Mining and Exploration Company seeking to acquire, develop, and manage various mineral properties and resources.

Forward Looking Statements
This news release contains "forward-looking statements". Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. In general, estimates of 3P (proven, possible & probable) reserves are based upon a number of factors and assumptions made as of the date on which the estimates were determined, such as geological, technological and engineering estimates and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking estimates. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by law. Readers should also refer to the Company's current annual report and other periodic filings, which are available at www.sec.gov for additional discussion of risks and uncertainties. The reader is cautioned not to place undue reliance on forward-looking statements.

Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. The Company uses certain terms in this release such as "mineralized gold zones" that the SEC's guidelines strictly prohibit the Company from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in the Company's periodic and other filings filed with the SEC on EDGAR at www.sec.gov.

Contact Information

  • Contact:

    Sungro Minerals, Inc.
    Erwin Vahlsing, Jr.
    Tel: (401) 648-0805
    Fax: (401) 648-0699