KEN CARYL RANCH, Colo., July 7, 2005 (PRIMEZONE) -- International Precious Minerals Group, Inc. (Pink Sheets:IPMG) is pleased to announce that Brian Robertson, President and CEO of IPMG Inc. recently returned from Cambodia wherein he was able to successfully negotiate the acquisition of 100% of the mining interests of GUL Mining Inc. -- a registered Cambodian company specializing in the accumulation of prime mining leases and concessions throughout that part of Southeast Asia.
GUL Mining Inc.'s concessions in Cambodia consist primarily of gold, silver and copper reserves, although they also include valuable lead and zinc reserves as well.
Brian Robertson was quoted, "By acquiring GUL's interest in these mining concessions, we hope to add significantly to our reserves." GUL has conducted a successful operation in Cambodia for the past 6 years. The GUL interests give IPMG a significant jumpstart in our efforts to accumulate sizable reserves in this relatively untapped area of the world.
Mr. Gerhart, President of GUL Mining said, "We are very pleased and excited to be working with IPMG in light of their strong management and visionary approach to mining development. We can't imagine a better way to expand upon the strong foundation we have built in this region to date than to now be part of the IPMG team of mining professionals."
About us:
International Precious Minerals Group, Inc. is a mineral exploration company focusing on gold and other precious mineral deposits predominantly in Southeast Asia and Africa. International Precious Minerals Group, Inc. was established to build on the strong contacts and relationships our management and other team members have internationally. The Company is publicly traded under the ticker symbol IPMG (PK).
We are in the process of evaluating or signing joint ventures with other companies in South East Asia and Africa to give us access to gold and other precious mineral leases. These countries are extremely rich in mineral potential, and relatively untouched due to the recent political instability. We plan to expand our portfolio of leases, while mining economically viable properties from the beginning.
About GUL Mining Inc.:
GUL has been a registered Cambodian company since 1999. Principles in GUL include Ken Gerhart, President, (an American citizen and investor), Udom Sriprasom, (a Thai citizen-resident and businessman), Mrs. Ham Maly, (a Cambodian citizen-resident and businesswoman), Moeun Sokhonn, (a Cambodian citizen-resident and businessman) and Huot Chantho, (a Cambodian citizen-resident and businessman).
Forward-Looking Statements:
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of the management of IPMG only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings; economic downturns affecting the operations of the Company, adequate financing to achieve the new strategic plans, and the unavailability of general financing to complete management's overall plans and objectives. IPMG undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting IPMG, reference is made to IPMG's reports filed from time to time with the Securities and Exchange Commission. www.ipminerals.com