WILMINGTON, Del. and SALT LAKE CITY, Jan. 19, 2007 (PRIME NEWSWIRE) -- Perihelion Global (Pink Sheets:PHGI) announced that the corporation has completed the applications to grant permits to conduct small scale mining operations on its patented Gold Mine (U.S. BLM Patent Claim No. 5797) in Box Elder County, Utah. The applications are to be formally filed with the State of Utah Department of Natural Resources, Division of Oil, Gas & Mining in Salt Lake City.
Perihelion Global anticipates formal approval to begin small scale mining of 5 acres or less on Patent Claim No. 5797 will be granted within 3 weeks. Patent Claim No. 5797 has been assayed in separate geological reports to have 1,277,950 oz of Gold deposits, currently worth more than $745 Million USD ($745,000,000.00) and is on private land owned by Perihelion Global.
Perihelion Global's Patent Claim No. 5797 is located in Box Elder County, Utah, approximately 8 miles east of Montello, Nevada in the central zone of the Montello Mining District in Northeastern Nevada-Northwestern Utah. The two most recent geological reports verifying the gold deposits in Patent Claim No. 5797 were conducted in 2000 by respected Geologist Dr. Yung S. Kim, a retired Professor of Geology at the University of Nevada and Senior Fellow at the Department of Conservation, Office of Mines, Sacramento, CA., and in March 2006 by John A. Yellich, Certified Professional Geologist - No. 7538, American Institute of Professional Geologists, Licensed Geologist -No. 891, State of Washington. The March 2006 geological report on Patent Claim No. 5797 is posted on the Perihelion Global website www.perihelion.com for public viewing.
"We are steadily moving forward to maximize the full asset potential of the patented Gold Mine for our company," said John H. Beebe, Chairman, Chief Executive Officer and President of Perihelion Global. "The markets continue to demonstrate a strong demand for gold and other precious metals and market price support remains strong."
About Perihelion Global:
Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy, Infrastructure, Engineering, Banking and Communications.
Website: www.perihelion.com
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