FERNDALE, Wash., June 15, 2011 /PRNewswire/ -- Brookmount Explorations, Inc., WWW.BROOKMOUNT.COM, (BMXI.PK and B6T Frankfurt), is pleased to announce it has entered into an Option-Joint Venture Agreement with Pana – Minerales S.A. to develop its Mercedes 100 Project.

Under the terms of the agreement Pana – Minerales S.A. will spend US $3 million on project development to earn a 50% interest in the project over a 2-year period. Upon the full earn in, the 50-50 Joint Venture agreement shall supersede.

The project expenditures timeline will be $750,000 before April 2012 and an additional $1.25 MM before Nov. 2012 with the additional $1MM to be spent by April 2013. Project expenditures can be accelerated if so warranted.

With sufficient funds to be released immediately by Pana – Minerales, Brookmount will begin to pay current term fees for concessions and begin the process of permitting, community surface rights agreements and preparation, with the expectation to begin the 1st stage exploration program by Aug. 2011.

Work to date on the project has indicated the presence of/and significant potential of the project to produce gold, silver, zinc and lead. Brookmount expects further exploration work on the property will prove up the property's excellent potential to host much larger mineral resources.

Brookmount's keystone Mercedes 100 project is located in a prolific mining region that hosts some of the largest mining operations in Peru, such as Volcan's Cerro de Pasco and Doe Run's huge smelter and mining operations at La Oroya, plus numerous other large deposits and mining operations.

Contact: Peter Flueck, peter.flueck@brookmount.com or 206.497.2138

Safe Harbor: This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements.

SOURCE Brookmount Explorations, Inc.

Copyright 2011 PR Newswire

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