LONDON, July 13, 2005 (PRIMEZONE) -- Bancorp International, Inc. (Pink Sheets:BCIT), a high growth, diversified mining company operating in multiple regions in Venezuela, today announced that it believes the current global economic and political climate underscore how valuable the company is, especially when the company's diversified holdings in gold and diamond mining operations are carefully weighed.
"We believe our stock price at present does not reflect the true value of our company -- we have significant gold and diamond assets that we are just starting to actively mine and an established formal relationship with the Venezuelan Federal Government, that we intend to leverage as a strategic business partner moving forward," said Thomas Magnus, the CEO of Bancorp International, Inc. "We are also very much aware of the fluctuating price points that can impact the gold and diamonds markets and are weighing our options in setting up hedge funds for both minerals to offset any significant changes in pricing that might occur in the marketplace."
About Bancorp International, Inc.
Bancorp International, Inc. (Pink Sheets:BCIT) is a multinational mining company that locates, mines and processes precious metals and diamonds in diverse locations around the globe. The company is operational in Venezuela at present but plans on starting additional mining operations in other locations in Africa, Europe and Asia. BCIT's growth model is based on acquiring the mineral rights where there are potential extensive deposits of precious metals or diamonds that can be located using the latest sophisticated mining processes such as digital imaging via satellites and airplane to minimize prospecting costs.
Bancorp's focus is on delivering long term shareholder value by developing first class mining properties that have a potential significant yield to enable the company to sustain a strong competitive advantage through many business cycles. For further information: 15 Onslow Gardens, Suite 7, London, United Kingdom, SW73AW
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.