TORONTO, Feb. 8, 2007 (PRIME NEWSWIRE) -- Geoandina Mining Corp. (Other OTC:GODN), a precious metals exploration and production company with interests in Argentina, releases a corporate update from Company C.E.O., Jonathan Hagen.
Geoandina Mining Corp. is a junior mining company with current interests and properties in Argentina. Our Management team is positioning the Company to become one of the leading exploration, production and revenue generating mining companies in Argentina.
Geoandina Mining Corp has its core operations located in Argentina and has been operating for over twenty years. During such time, Geoandina has been extracting multi-minerals such as calcium, talcum, sulfates, and castings for third-party companies throughout Argentina mainly including large construction, drilling and industrial projects. Geoandina has now decided to move onto the precious metals sector as the potential and upside is massive. "Over the coming weeks and months we will be announcing acquisitions that Geoandina has the sole rights and options on; we need to see which of our options we wish to exercise first and on this I am relying heavily upon our geologists. There are several anomalies on these properties that are consistent with sizeable gold discoveries and we wish to have more information internally before we decide to activate our option on these properties and announce them publicly." (Jonathan Hagen CEO)
Management is also pleased to announce that the Company opened up a small North American location simply to facilitate with the communications to shareholders, the public and the press.
In the coming months once the options have been exercised and the Company's portfolio of precious metals properties is complete, then the focal point will be on reviewing all the Company's technical mining needs. "For example, our management team will be traveling on site to Argentina to concentrate on property growth, to assess and promote 'maximum return' extraction and refinery equipment, recovering ounces and resources, as well as the implementation and administration of scheduled drilling and geologic sites/studies. In the coming months our goal will be to establish a multi-national gold exploration and production program." (Jonathan Hagen CEO)
Jonathan Hagen President & C.E.O. Geoandina Mining Corp.
About Geoandina Mining Corp.
Geoandina Mining Corp. is a publicly traded mining company, trading under the ticker symbol GODN. The Company will continue to acquire proven gold and precious metal reserves throughout South America and operate through a variety of strategic methods such as acquisitions, joint ventures, or partnerships.
The Company's core operation is located in Argentina, an emerging market with tremendous growth potential. The Argentine mining sector boasts a lucrative precious metals base and the country' fiscal, legal and executive branches is one of the regions most stable. With a surface of over two million square kilometers, it is very rich in mining resources. In fact, the Mining Journal Survey has ranked Argentina sixth in the world in mining resource potential, ahead of high gold producing countries such as Mexico, Colombia, and Bolivia.
FORWARD-LOOKING STATEMENTS:
Statements contained in this news release, which are not historical facts, are forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 that involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things: volatility and sensitivity to market prices for coal; replacement of reserves; procurement of required capital equipment and operating parts and supplies; equipment failure; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; imprecision in reserve estimates; success of future exploration and development initiatives; competition; operating performance of the facilities; environmental and safety risks including increased regulatory burdens; seismic activity, weather and other natural phenomena; failure to obtain necessary permits and approvals from government authorities; changes in government regulations and policies including tax and trade laws and policies; ability to maintain and further improve positive labor relations; and other development and operating risks. Although Geoandina believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this report. The company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.