SOURCE: Sungro Minerals, Inc.

September 28, 2010 11:23 ET

Sungro Minerals Provides Information Regarding 'Estimated' Lead Deposit Potential

WARWICK, RI--(Marketwire - September 28, 2010) -  Sungro Minerals, Inc. (PINKSHEETS: SUGO) today announced additional information from eight targeted area's from which the dominant structural feature on the property is the Conglomerate Mesa reverse fault system.

Mr. Fred Pucillo, CEO, stated, "As we review additional documents uncovered during our digitization program, we are excited by the mineralization estimates we are seeing for both industrial and base metals. We are encouraged by the most recent estimate developed from these geological surveys and reports, which show an estimated 4,800,000,000 pounds of lead that make up the claims. To put this in perspective, this is approximately 75 pounds of lead per share, and we are highly confident we will have similar results when other base metals in this formation are reviewed." He goes on to say, "With lead prices approaching $1.00 a pound again, we are confident that we will be able to monetize this valuable asset once we begin production. This system not only holds high potential for gold, copper and silver, but other minerals such as: Quartz-sericite, and in particular, Calcareous shale, Siltstone, Sandstone and silty-sandy Limestone can be found. Iron-stained (especially Hematite) quartz are also present."

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