SOURCE: ZNext Mining

ZNext Mining

January 14, 2010 12:01 ET

While Gold Price Surges Over $1,000/Ounce, PEARL Asian Mining (ZNEXT Mining) Forecasts 2010 Net Gold Revenue App. $1,879,178.00 /Month ($22,550,136.00/ Year)

Updates - Reorganization Notification

LIBONA, BUKIDNON, PHILIPPINES--(Marketwire - January 14, 2010) - PEARL Asian Mining (PINKSHEETS: ZNXT) (PINKSHEETS: ZNXPP) announces that the Company diverted the mobilization and fast tracking of its small scale mining operations to produce immediate gold, thus capitalizing on the surging gold price as it continues to rise over $1,000 an ounce, as a result of the December 23, 2009 Board Meeting.

During the breakthroughs in funding, mine permitting and the imminent settlement with the SEC Allegations against the former Management's actions, PEARL Asian's Board implemented the immediate mobilization of its small scale mining operations. The Board approved the transfer of all the needed mining equipment to the Compostela Valley Gold Project and the re-opening of its Gango Gold processing plant, to take effect soon after the addition of its copper floatation enhancement unit. These business strategic moves can immediately re-generate gold revenues beginning the 1st Quarter of 2010, which will far exceed the past gold recoveries. The target is a one (1) Kilogram of gold per month which can be harvested during this first quarter transition period to increase, thereafter. Below is a very conservative "2010 Gold Revenue Projection" based from the October, 2009 price of $1,000.00 an ounce.

PROJECTED MONTHLY AND YEARLY REVENUE (Feb. to Dec, 2010)

1. Small Scale Operations about  =  $32,000/month (use of manual tools)
2. Large Scale Operations about  =  $ 2,652,540/month
   $120,570 X 22 days / month
   (est. 2nd Quarter, 2010)
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 Total Gross Revenue per Month      = $2,684,540/month
 (Less 30% Direct & Indirect Costs) =    805,362/month
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 Total Net Revenue per Month        = $1,879,178 / month X 12 months
 Total Net Profit per Year          = $22,550,136/ Year

NOTE: Estimated 1kg= 1000 grams = about 32 troy ounces X $1,005/troy
oz=$32,160.00 USD)

LARGE SCALE MINING - XYZ Gold Project with the company's pending MPSA, this project can average up to 15 grams of gold per ton of ores per day, equivalent to about 3,750 grams of Gold or 120.57 Troy Ounces of Gold per day from the mineralized ores of proven gold reserves. The XYZ Gold Mine Site has a Pre-World War II known high grade gold reserves; the mineralized ores contained an average of about 90.37 grams per ton of gold and 533.6 grams per ton of silver. In 1997, A Canadian Company (Pottinger - Gaherty Environmental Consultants Ltd., Canada) had written exploration and feasibility report showing the following summary:

Estimated Daily Revenues @ the cost of US $1,000.00 per troy oz.
# of Ounces per day recovery X Price per Ounce = Gross Income per Day
120.57 oz X $1,000.00/oz = About USD $120,570.00 per day

Estimated Yearly Gross Revenue: $120,570.00 per day X 269 days/year =
About USD $32,433,330.00 per year

UPDATE on Reorganization Notification:

--  The Company's Name Change to "PEARL Asian Mining Industries, Inc." -
    Philippines and Canada for all the COMMON & PREFERRED Stockholders of ZNext
    Mining (Symbol: ZNXT & ZNXPP) respectively, were in effect and were subject
    to FINRA's assignment of the new Stock Symbols and the submission of
    additional documentations.
--  Dividend Distribution payment relating to the 75 New PEARL Asian Common
    Shares in  exchange for every 50 ZNXT Common shares held by the ZNXT Common
    Shareholders (CUSIP#  98975U 108- a 50 ZNXT:75 PEARL- Philippines Ratio)
    and the Exchange Distribution of the ZNXPP Preferred shares (CUSIP # 98975U
    405 - a 1 ZNXPP:10,000 PEARL-Canada Ratio), that every 1 Preferred of ZNXPP
    is to be exchanged into 10,000 Common shares of PEARL Asian Mining - Canada
    Common Shares, will commence upon the new symbols being assigned by FINRA.
--  SEC Allegations - the Board is working diligently with the SEC's Counsel
    for a possible and imminent settlement against former management's actions.
    The PEARL Asian Board is looking for an expeditious resolution and
    settlement within the first quarter of 2010.
--  Caveat Emptor Warning - the Board is complying with OTC PINKS
    requirements by filing all the required regulatory documents and material
    disclosures in compliance for the removal of this warning.
    

"WE THANK OUR VALUED SHAREHOLDERS FOR THEIR SUPPORT AND UNDERSTANDING. WE WISH TO OBTAIN ANSWERS EVEN TO THE TOUGHEST QUESTIONS THAT WILL SERVE INVESTORS WELL, AS THE COMPANY ON THE ANTICIPATED CASH FLOW FROM ITS VARIOUS GOLD PROJECTS, AND CONTINUES ALONG THE PATH TOWARD PROFITABILITY! WE ALSO BELIEVE THAT WE ARE ON A RIGHT AND LESS ENCUMBERED PATH TOWARD ACHIEVING GENUINE VALUE FOR THE COMPANY, FOR ALL THE SHAREHOLDERS AND THE MEMBERS OF THE MINING COMMUNITY THAT WE SERVE," CEO CARPIO ADDED.

ABOUT THE COMPANY

PEARL Asian Mining Industries, Inc. (ZNext Mining Corporation, Inc.) is an international mining company engaged in the exploration, development of new and underdeveloped mine sites. The company focuses primarily in the small scale mining and production of gold, silver and other precious metals. ZNEXT Mining was assigned the 100% interest of the PEARL's Mineral Production Sharing Agreement (MPSA), equivalent to the Large Scale Mining Permit. This MPSA had been on file in Region V since 2004. ZNEXT Mining Corporation has changed the country of jurisdiction back to the Philippines as Pearl Asian Mining Industries, inclusive of all the Philippines mining assets such as gold-silver, copper, other precious metals and all other mineral explorations, plus the assignment of all rights that included the Gango Gold processing plant, gold tunnels among others. This does NOT include any or all liabilities or any pending SEC allegations against the past ZNext management. In lieu of merging into AZHA Mining name, however, the right to the AZHA Mining name and its assets, web site and operations now belong to Pearl Asian Mining. All the ZNEXT Mining Common Shares (Symbol: ZNXT) are converted to PEARL Asian Mining - Philippines Common Stocks; while all the ZNEXT Mining Preferred Shares (Symbol: ZNXPP) are converted into the Common shares of Canadian Corporation, holding the company's Canadian mining interest, also named Pearl Asian Mining Industries, Inc. The PEARL Asian Mining (PHILIPPINES' CUSIP # Y6804H 126 & ISIN # PHY6804H 1261, and the CANADA's CUSIP CDS# 704752401 & ISIN # CA7047524011, each has separate assigned Stock Symbol.

FORWARD-LOOKING STATEMENTS:

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs, mining and development risks; the risk of commodity price fluctuations; political and regulatory risks, and risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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