El Maniel International Inc Announces Significant Gold Find on Plots A and B Situated in the Western Region of Ghana
April 11 2011 - 1:39PM
EI Maniel International Inc (Pink Sheets:EMLL) announced
significant gold findings on Plots A and B today and initial
results from the geological survey conducted indicates that the
projected gross revenues from the expected gold reserves is in the
region of $200 million based on current gold prices. "Our
consultant, Mr. Ofei Agyekum from Accra, the capital of Ghana and
his geologist initially reported that we can achieve an initial
production rate of at least 6,400 Oz for the first year of
operations on Plots A and B," states Jamie Khoo, CEO of El Maniel
International Inc "We expect a ramp-up in production from the
preliminary estimates after the first year of operations and we are
very excited on the gold find as the value of this asset continue
to appreciate exponentially from rising gold prices which we still
believe will chart $1,600 per Oz in the near term."
Plots A and B refers to the alluvial gold mining claim falling
within latitude 5° 20" N and 5° 22" N and longitude 2° 08" W and 2°
09" W which is situated in Akatreka of Wassa Amenfi West, next to
the Ankobra river. The Ankobra river has long been a significant
source of alluvial gold for many generations of local inhabitants
and portions of the river continue to attract artisanal miners in
the dry season when the river gravels can be more easily mined.
"Our gold mining and exploration team in Ghana are now working on
the following steps of expediting for final approvals necessary for
commencement of mining operations which includes the digging
permit," added Jamie Khoo. "This gold asset will be a launch pad
for El Maniel to greater heights and to pursue its ongoing business
model of expanding its revenue generating capabilities to
ultimately enhance shareholder's value."
El Maniel International Inc is a publicly traded company
currently focused on prospecting, developing and expanding the
economic potential of world class mining claims located in Ghana,
West Africa and the company is committed in creating shareholder's
value by ensuring constant development of current and new resources
in the region. For further information and updates on El Maniel,
stay tuned to www.elmaniel.com
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: The statements contained in this release which
are not historical facts are forward-looking statements that are
subject to risks and uncertainties that could cause actual results
to differ materially from those set forth in or implied by
forward-looking statements. These risks and uncertainties include
the Company's entry into new commercial businesses, the risk of
obtaining financing, recruiting and retaining qualified personnel,
and other risks described in the Company's Securities and Exchange
Commission filings. The forward-looking statements in this press
release speak only as of the date hereof, and the Company disclaims
any obligation to provide updates, revisions or amendments to any
forward-looking statement to reflect changes in the Company's
expectations or future events.
CONTACT: El Maniel International, Inc
Investor Relations Contact:
212-726-2179
ir@elmaniel.com
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