Viking Minerals Inc.
OTC Bulletin Board : VKML

Viking Minerals Inc.

June 23, 2011 09:02 ET

Viking Minerals Cancels 240 Million Common Shares and Significantly Enhances Shareholder Value

PHOENIX, ARIZONA--(Marketwire - June 23, 2011) - VIKING MINERALS INC. (OTCBB:VKML) ( reports that the company has cancelled 240,000,000 common shares in order to greatly enhance the position of its shareholders. The Company is dedicated to enhancing shareholder value and advancing its resource projects to maximize the Company's position in the marketplace.

Company President Charles Irizarry stated: "The global demand for Gold and Copper has never been greater and Viking is well positioned to take advantage of this demand with its Dolly Varden property in Elko County Nevada. Viking will aggressively pursue near term production opportunities over the coming quarters. By reducing the issued and outstanding shares in our company by 240,000,000 or two thirds, we have not only dramatically enhanced our shareholders value, but also provided the company with the flexibility to acquire production assets using both cash and stock with minimal dilution to our share holders"


There are 298 mines in Elko County, Nevada, located between Reno and Salt Lake City and is a prolific copper mining area. Two of the most noteworthy mines include the Robinson Mine which is an open pit copper and gold mine that has operated continuously since 2005 producing averagely 121 to 126 million pounds per year of copper. The Bingham Canyon Mine, which is the world's largest open pit mine and has produced more copper than any other mine in history – approximately 14.5 million tons.


Viking Minerals is engaged in the acquisition and development of near-term producing copper, gold and silver properties in the United States and Canada. Viking is focusing on developing its Dolly Varden properties in northeastern Nevada, adjacent to the Victoria Copper mine. The Large resource of copper in this area has been well documented and hosts two large operating mines ΓÇÆ Battle Mountain and Robinson. With solid management, an experienced technical team, and a large copper-rich land position in mining-friendly Nevada, Viking Minerals is well positioned to be North America's next great mining company.

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