Vinoble, Inc.
OTC Bulletin Board : VNBL

July 08, 2005 16:32 ET

Vinoble Agrees to Acquire Mining Property in the Red Lake District

MALIBU, CALIFORNIA--(CCNMatthews - July 8, 2005) - Vinoble, Inc. (OTCBB:VNBL), a holding company seeking to identify long-term growth opportunities in the areas of homeland security, security information systems, and other security services, announced today that pursuant to its news release of June 10, 2005, the Company has agreed to acquire controlling interest in a mineral asset in Northwestern Ontario, Canada.

Recently, Vinoble announced its intent to enter the mining industry with the introduction of a tracking management system for the protection of assets in the underground mining and quarry industry, specifically to protect our natural resources from terrorist threat or harm along with asset management and productivity.

The Company has identified and agreed to acquire controlling interest in the Hazard Lake Gold Mine property located in Northwestern Ontario in the Red Lake Mining District. The Hazard property is an extension to a past producing property that produced over 110,000 ounces of gold and 14,000 ounces of silver in the mid 1900s. The Red Lake Mining District is reputed for its gold production both past and present and has attracted many prominent mining companies over the years.

Drilling on the property performed to date has identified a gold resource valued at nearly $8,000,000 in the ground at current gold prices; however, the property still requires additional exploration work to update and further expand on this and identify any additional resource.

Based upon certain SEC filing and disclosure requirements, the closing of this transaction is expected to occur in approximately 90 days at which the terms and conditions will be disclosed.

Vinoble's perspective is the addition of the asset will provide the Company and its shareholders a much-improved increase in shareholder value, subject to the completion of the 43-101 on the Hazard mining prospect. In addition, it will serve as a testing and demonstration location for RFID and GPS applications. RFID and GPS technology will be a valuable tool for the mining industry and will offer protection of our country's natural resources and commodities against threat. Preservation of these materials is important to the safety of U.S. industry and economy.

The Company believes that offering such service and technology applications in the mining industry will further position Vinoble in a rapidly expanding industry while taking advantage of access to the increasing capital and global spending that the Company will require for growth. The Company's goal is to also provide a much-needed service at a cost manageable to even the smallest of businesses that can't afford to do without the safety of its personnel and assets in this current state of constant threat.

Safe Harbor Statement: This press release contains forward-looking statements as defined in The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan", "confident that", "believe", "scheduled", "expect", or "intend to", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties, and actual results may differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to, the ability of Vinoble to complete the proposed acquisition(s), the results of Vinoble's due diligence review of the candidate(s), the success of the business of the acquisition candidate(s), including the ability of Vinoble to continue to sell the applicable products and the acceptance of those newly designed products by the market, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings. The closing of the transaction will be subject to complete due diligence, inspections, and completion of audited financial statements in accordance to GAAP as required by the SEC prior to consummation.

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