NEW YORK, Nov. 16, 2009 (GLOBE NEWSWIRE) -- Mayfair Mining & Minerals, Inc. (Pink Sheets:MFMM) (Frankfurt:M1M) (the "Company" or "Mayfair") is pleased to report that an agreement has been reached with Shire Trading of Hong Kong for the sales and marketing of its amethyst production from the Mapatizya area of Southern Zambia.
Mayfair Mining's Mapatizya Amethyst concessions, situated in the principal amethyst mining area in Zambia, encompass over 600 hectares located in the Kalomo District of Zambia, approximately 115 kilometres from Kalomo Town and 415 kilometres from Kafue. There is good infrastructure in the region and good road access to Mayfair's concessions. The concessions are contiguous to the property of Kariba Minerals, which hosts the largest amethyst-producing mine in Zambia and one of the largest in the world.
Mr. Tommy Wu, the Proprietor and Managing Director of Shire Trading Limited qualified as a professional gemmologist with the Gemmological Institute of America in 1974. In 1980, he established Shire Trading Limited, in Hong Kong. He has many years of experience buying rough gemstones from around the world, including Africa, Burma, Brazil, Pakistan and Columbia. Mr. Tommy Wu is rated amongst the world's top gemstone dealers and specialists and is well-known internationally for producing stones of the highest quality from his cutting and polishing operations in Thailand.
Clive de Larrabeiti, President of Mayfair, stated, "We are extremely pleased that Tommy has chosen our product to increase his sales volumes of the ever popular amethyst gemstone. We are committed to supplying him and his customers world-wide high quality stones on a timely basis. It is significant that the demand for these semi-precious stones appears to be increasing at this time as the world recovers from the financial shocks of the past year. Due to our previous investment in equipment and infrastructure at our mine sites in Zambia, we are well positioned to meet this demand presently and into the future. The anticipated cash flow from this initiative will assist the Company to expand its organisation in Zambia."
The Company also wishes to report that it has accepted the resignation of Mr. Alexander Holtermann as Chief Executive Officer and Director. Mr. Holtermann has resigned for personal reasons in order to follow his business interests in the Hong Kong financial markets. The Company and its Board wish to thank Mr. Holtermann for his past efforts on behalf of the Company and wish him well for the future.
On behalf of the Board of Directors, Clive de Larrabeiti President info@mayfair-mining.com www.mayfair-mining.com
SAFE HARBOR STATEMENT
This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various mining project interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Forward-looking statements involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends" and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks described in this press release. Such risks include, but are not limited to, world and/or regional economic and financial factors and events, terrorist and/or other events or activities that may affect our business, the mining and/or metals/gemstones industries or the economy in general; lack of success in mining and/or business activities; the prices of metals and gemstones; lack of funds to conduct mining activities; increase in costs of operation and/or production; changes in governments, laws, rules and regulations; and similar risks. For further information about the Company, please refer to its materials filed with the Securities and Exchange Commission and available on the SEC website at www.sec.gov.
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