SOURCE: ZNext Mining

May 14, 2008 12:41 ET

ZNext Mining Increases Authorized Shares in Anticipation of XYZ Gold Mill Processing Plants and Development of Additional Properties

MANILA, PHILIPPINES--(Marketwire - May 14, 2008) - ZNext Mining Corporation, Inc. (PINKSHEETS: ZNXT) (OTC Preferred: ZNXTP) (XETRA: R1z.De) (FRANKFURT: R1z.F) announced that after the first quarterly Board Meeting, the company's board of directors has resolved to increase the Company's Common shares to 40 million, concurrently increasing its authorized Common shares as it looks toward development of the XYZ Masbate Gold and the Company's Canadian holdings. Near-term projects include the installation of a 100 metric tons of gold mill plant with copper floatation device, installation of on-site metallurgical laboratory, construction of access road and building of the personnel housing and the explorations of Wolf Properties in Vancouver Island, British Columbia, Canada.

The Company intends to fabricate and install mini rod mills for the XYZ, so that the production of the XYZ Masbate Gold may begin during the second half of 2008. A copper flotation system installed to the existing Gango Gold Rush mill plant will increase gold and other precious metals recovery. Likewise, a 10 metric ton mini gold mill plant is being installed in Binasan, thus escalating gold recoveries. Additionally, the Company's Canadian exploration team is now prepared to begin in earnest Phase I Explorations on the Wolf Properties in Vancouver Island, British Columbia, Canada.

The Company is engaging the services of a qualified U.S. CPA, PCAOB registered, with the concurrence of its legal counsel, to perform an audit of ZNext's 2006 & 2007 financial statements.

The Board also resolved the appointment of Manolo Tecson and Randolf Villanueva to serve as acting co-CEOs for ZNXT while Jason Piamonte is on a leave of absence. The Company hired an Independent Geologist Consultant, while mining engineers and technical laborers (skilled and unskilled) are hired as temporary employees to work on each project. ZNext's board also resolved to begin conducting its investor relations services in-house effective June 1, 2008, utilizing the services of Jordan Richard Assoc. LLC through May 31, 2008.

"In recognition of our investors' and shareholders' patience, we wish to show our gratitude to them while we commence work at the XYZ Masbate Gold, re-open our Gango Gold Rush in Bukidnon, the Binasan Gold Project, and undertake Phase I exploration at the Wolf Properties in British Columbia, Canada," said Chairman Tecson.

Additionally, the Company announced that it disavows the claims of Operation Reach Out-USA (ORO-USA, domiciled in the State of Nebraska) regarding ORO-USA's role in the alleviation of poverty among the Binasan Indigenous People of the Philippines. Many claims made on ORO-USA's web site, especially with regard to alleged humanitarian contributions to the Philippines, are being challenged as to the facts, truthful disclosure and various legalities. ORO-USA's non-profit status and its 501(c)(3) (tax-exempt) designation with the IRS is also under scrutiny. ZNext Mining and Pearl Asian Mining wish to make known their challenge of numerous claims made and affiliations both stated and implied by ORO-USA. Neither Company has ever endorsed ORO-USA and the companies caution anyone who would consider contributing to the so-called "non-profit humanitarian operation" conducted by Jeffrey Alan Bosaw and his wife Jennifer Bosaw.


ZNext Mining Corporation, Inc. is a multi-national mining company engaged in the exploration and commercialization of new and underdeveloped mine sites, primarily gold, silver and other precious strategic metals. Twelve (12) mining claims in British Columbia, Canada are owned 100% by ZNext Mining. Additionally, ZNext Mining owns 40% of the Pearl Asian Mining Industries, Inc., a Philippines domestic private corporation, that holds an application under a Mineral Production Sharing Agreement (MPSA) with the Republic of the Philippines, pending approval. The Company has a special small-scale mining permit (SSSMP) in the XYZ Masbate Gold Project. Currently it has three gold mining sites: (1) Binasan Gold, Misamis Oriental (2) Gango Gold Rush, Bukidnon (3) XYZ Masbate Gold, Masbate. The company has a joint venture agreement to explore and develop the Crisanta Copper & Gold Project in Eastern Samar. ZNEXT Mining that through aggregation of manpower and production among small-scale miners and indigenous peoples, intends to capitalize on economies of scale in gold and silver extraction, processing and commodities selling and trading. ZNext Mining, Inc. is committed to the implementation of sustainable green technologies to achieve fiscal strength based on the principle of Profit-People-Planet. Management continues to focus on achieving profit, while conducting business with utmost consideration and compassion for people and protection of our planet and the environment.


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; 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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