updated 3/3/2011 5:46:12 PM ET 2011-03-03T22:46:12

NEW YORK, March 3, 2011 (GLOBE NEWSWIRE) -- El Maniel International Inc (Pink Sheets:EMLL) announced today that it has secured the Digging License from the Inspector of Mines Division of the Minerals Commission of Ghana for immediate commencement of alluvial gold mining operations on the 25 acres Plot C – The Kumasko Project situated in the Central Region of Ghana, the country's prominent gold mining region "The Digging License is the last approval required before any commencement of mining operations and gold production," comments Jamie Khoo, CEO of El Maniel International Inc. "Mining operations and gold production is scheduled to start as soon as April 2011 or earlier and revenue contribution from Plot C will be reflected in our financials from Q2 of 2011 which will tremendously enhance our bottom line"  

"The Digging License which was issued by the Minerals Commission of Ghana on 17 February 2011 and currently exhibited in our online portal www.elmaniel.com  is a key and final development in our gold mining initiatives in addition to the necessary high level local support, knowledge and contacts that are all in place for us to implement a successful production strategy for Kumasko Project," according to Jamie Khoo "El Maniel is also dedicated to implement a strong social investment strategy in Ghana with plans to rollout local employment opportunities and encourage social development. 

"We also expect the value of our African assets to be enhanced by the continued uptrend of the gold price which we believe will persistently chart all time highs levels up to US$1,600 per Oz and beyond" added Jamie Khoo.

El Maniel International Inc (Pink Sheets:EMLL) is a publicly traded company currently focused on prospecting, developing and expanding the economic potential of world class mining claims located in Ghana, West Africa and the company is committed to shareholder's value creation by ensuring constant development of current and new resources in the region. For further information and updates on El Maniel, stay tuned to www.elmaniel.com

"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.

CONTACT: El Maniel International, Inc
         Investor Relations Contact:
         212-726-2179
         IR@elmaniel.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 5.04%
$30K home equity loan FICO 5.20%
$75K home equity loan FICO 4.65%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.28%
13.28%
Cash Back Cards 17.77%
17.73%
Rewards Cards 17.03%
17.00%
Source: Bankrate.com