SOURCE: Sungro Minerals, Inc.

December 03, 2010 17:51 ET

Sungro Minerals Completes Bridge Financing

WARWICK, RI--(Marketwire - December 3, 2010) - Sungro Minerals, Inc. (OTCBB: SUGO) today announced that it has completed a round of bridge funding needed to complete the long expected NI-43101 report as well as providing for the completion of annual payments associated with the maintenance of the property and claims.

"We are excited that we have been able to complete the funding of the report and anticipate that its findings should become available shortly," said Mr. Fred Pucillo, CEO of Sungro.

Mr. Pucillo went on, "Once we have the results, we will move forward with the plan to achieve 'feasibility' which is the next stage in the Company's path to production."

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.
    Martin Bolodian
    Investor Relations
    Phone: (401) 648-0805 ext. 350
    Fax: (401) 648-0699
    www.sungrominerals.com