SOURCE: Sungro Minerals, Inc.

October 05, 2010 09:45 ET

Sungro Minerals Uncovers Documents Suggesting Large Zinc Potential; Economic Value of This Mineralization May Exceed $18 Billion

WARWICK, RI--(Marketwire - October 5, 2010) -  Sungro Minerals, Inc. (OTCBB: SUGO) today announced that it has discovered documentation from previous drilling and evaluations from previous exploration of the Conglomerate Mesa claims.

"As we have carefully sifted thru documents in preparation of our NI43-101 report, we are delighted by the documentation regarding this base metal. This order of magnitude projection, developed from actual drilling results continues to show us the possible 'world-class' potential with Zinc estimated to be in excess of 18,000,000,000 lbs.," said Mr. Fred Pucillo, CEO of Sungro.

Mr. Pucillo went on, "With Zinc prices close to $1 a pound, and world-wide demand approaching levels similar to the demand prior to the world recession, Sungro is confident that this may be a significant portion of our revenue going forward. Although our efforts will predominately be exploration of precious metals, we cannot ignore the potential this mineralization offers us. In our previous release we offered a perspective as to the per share equivalent of the mineralization, and in the case of Zinc, the numbers may well be in excess of $1,000 per share. Further studies and commencement of our drilling program will provide more certainty to these valuations."

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