PATERSON, N.J., Feb. 21, 2008 (PRIME NEWSWIRE) -- Quest Minerals & Mining Corp. (OTCBB:QMNM) (Frankfurt:QMNB), a Kentucky-based operator of energy and mineral related properties, today announced it has retained Alchemy Engineering Associates, Inc., located in Prestonsburg, KY to conduct a full reserves study report of the existing coal located near the top of their current mining operation. This upper stratum presently encompasses all 792 acres already under lease by the company's wholly owned subsidiary, Gwenco, Inc.
Eugene Chiaramonte, Jr., President of Quest, stated, "The opportunity to permit and mine this section of the property would possibly double the working reserves of our entire operation. We are just waiting on a completed analysis to confirm the area's conduciveness for mining. A positive report will allow for additional projects such as strip and high-wall mining outfits, thus increasing the company's overall potential revenues."
Gwenco currently leases over 600 acres of coal mines that have approximately 12,999,000 tons of coal; 9,000,000 of which are proven reserves.
About Quest Minerals & Mining
Quest Minerals & Mining Corp., or Quest, acquires and operates energy and mineral related properties in the southeastern part of the United States. Quest focuses its efforts on properties that produce quality compliance blend coal. For more information on Quest Minerals & Mining Corp., please visit our website at www.questmining.net.
Forward-Looking Statements
This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Quest believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, lack of revenue producing operations, lack of working capital, debt obligations, judgments and lien claims against Quest and certain of its assets, difficulties in refinancing short term debt, difficulties identifying and acquiring complementary businesses, fluctuations in coal, oil & gas, and other energy prices, general economic conditions in markets in which Quest does business, extensive environmental and workplace regulation by federal and state agencies, other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission.