NEW YORK, April 11, 2011 (GLOBE NEWSWIRE) -- EI Maniel International Inc (Pink Sheets:EMLL) announced significant gold findings on Plots A and B today and initial results from the geological survey conducted indicates that the projected gross revenues from the expected gold reserves is in the region of $200 million based on current gold prices. "Our consultant, Mr. Ofei Agyekum from Accra, the capital of Ghana and his geologist initially reported that we can achieve an initial production rate of at least 6,400 Oz for the first year of operations on Plots A and B," states Jamie Khoo, CEO of El Maniel International Inc "We expect a ramp-up in production from the preliminary estimates after the first year of operations and we are very excited on the gold find as the value of this asset continue to appreciate exponentially from rising gold prices which we still believe will chart $1,600 per Oz in the near term."
Plots A and B refers to the alluvial gold mining claim falling within latitude 5° 20" N and 5° 22" N and longitude 2° 08" W and 2° 09" W which is situated in Akatreka of Wassa Amenfi West, next to the Ankobra river. The Ankobra river has long been a significant source of alluvial gold for many generations of local inhabitants and portions of the river continue to attract artisanal miners in the dry season when the river gravels can be more easily mined. "Our gold mining and exploration team in Ghana are now working on the following steps of expediting for final approvals necessary for commencement of mining operations which includes the digging permit," added Jamie Khoo. "This gold asset will be a launch pad for El Maniel to greater heights and to pursue its ongoing business model of expanding its revenue generating capabilities to ultimately enhance shareholder's value."
El Maniel International Inc 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 in creating shareholder's value by ensuring constant development of current and new resources in the region. For further information and updates on El Maniel, stay tuned to
"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 email@example.com