RENO, Nev., Nov. 14, 2006 (PRIMEZONE) -- Battle Mountain Gold Exploration Corp. (OTCBB:BMGX) ("Battle Mountain") is pleased to report results for the quarter ending September 30, 2006. Revenue for the period was $884,276. The revenue represents an approximate 34% increase from what the portfolio generated for the same period last year, under the previous owner. A breakdown of Battle Mountain's Royalty Revenue for the quarter and for the first nine months ending September 30th, 2006, is provided below.
Breakdown of Battle Mountain's Royalty Revenue for the Quarter and Nine Months Ending September 30, 2006 (Unaudited)
Nine Months Ending
Royalty Q3 September 30, 2006
Williams Mine $ 289,200 $ 807,058
El Limon Mine $ 182,105 $ 463,092
Don Mario Mine $ 396,490 $1,088,771
Joe Mann Mine $ 16,481 $ 74,629
Total $ 884,276 $2,433,550
Battle Mountain's income from operations for the quarter was $121,068, and we incurred a net loss for the quarter ending September 30, 2006, under US GAAP, of ($318,117) or ($0.01) per basic and diluted share. The company generated cash flow from operations for the nine months ended September 30, 2006 of approximately $526,868. Cash, which includes restricted cash held by our senior lender, was $315,207 at September 30, 2006.
The recently acquired portfolio of gold royalty assets is meeting management's expectations. Management looks forward to continued revenue growth from the existing portfolio and continues to review potential acquisitions.
For more information, please see our form 10QSB for the period ending September 30, 2006, which has recently been filed with the SEC.
About Battle Mountain
Battle Mountain is a gold royalty company headquartered in Reno, Nevada. Battle Mountain has a diversified portfolio producing, developing, and exploration gold royalties in seven gold producing countries.
On behalf of the Board of Directors, Mark Kucher Chairman and CEO
To learn more please visit www.bmegold.com or email info@bmegold.com.
Battle Mountain Exploration Gold Corp. Sixth Floor, Suite 9 One East Liberty Street Reno, Nevada 89504
Safe Harbor for Forward-Looking Statements: This release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain additional financing, the availability of needed personnel and equipment for future exploration and development, fluctuations in the price of minerals, and general economic conditions.