NEW YORK, July 20, 2011 (GLOBE NEWSWIRE) -- El Maniel International Inc (Pink Sheets:EMLL) announced today that the Company is very pleased with the alluvial gold mining opportunities in Papua New Guinea (PNG) and will aggressively pursue the immediate offers in hand "We are very excited with the Enga Province project site that we visited recently and according to preliminary estimates, gold reserves in this alluvial gold mining claim totaling about 100 acres are in the region of 270,000 ounces" according to Jamie Khoo, CEO of El Maniel International, Inc "While we are very excited with this alluvial gold mining opportunity in Enga Province, we are also looking at other available sites in other provinces with similar gold occurrences and we are seriously reviewing our options".
The Enga Province comprises of 5 districts with a total of 14 local governments and is one of the highlands provinces of PNG with mineral wealth and home to one of the largest gold mines in the world. "According to the Papua New Guinea Mineral Sector profile issued by the Minerals Resources Authority, in 2009, gold production from Porgera Gold Mine in Enga Province itself was 618,544 ounces representing about 30% of the country's aggregate gold production" stated Jamie Khoo "As mentioned in our forecast in our press release dated February 22, 2011, gold prices continued to hit unprecedented levels of $1,600 enhancing the prospective value of our gold assets and we will capitalize on the prevailing opportunities available in the gold business domain".
The Company is in the process of updating its financials with the OTC Markets under its ongoing efforts to provide transparency to shareholders and the Management has no plans at this time to increase the authorized shares and does not foresee any reverse splits in the future.
El Maniel International Inc is a publicly traded company currently focusing in the gold business domain including but not limited to trading, prospecting, developing and expanding the economic potential of its world class mining claims and the company is committed in creating shareholder's value by ensuring constant development of current and new resources in its global gold business domain. For further information, visit 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.