NEW YORK, Oct. 13, 2011 (GLOBE NEWSWIRE) -- El Maniel International Inc (Pink Sheets:EMLL) announced today that the Company has achieved significant progress in its gold mining endeavors in Papua New Guinea by successfully establishing the base camp for its new project situated at the Bulpat Creek of Misima Island in Papua New Guinea "We are very excited with this promising new asset totaling 108 acres and based on the geological survey report issued in 2009 for this alluvial gold mining claim, the projected gold reserves is estimated to be in the region of 85,000 ounces valued at US136,000,000 at gold price of $1,600 per ounce" according to Jamie Khoo, CEO of El Maniel International, Inc
The Misima Island has a total land area of 202.5 square kilometers and the project site has excellent road access from the sea port in Misima town and Misima airport. "With the establishment of our base camp as well as having the alluvial gold mining equipment in place, we are ready to roll out into the next phase of our mine development and gold production plan for Misima Project in advance of the Enga project" added Jamie Khoo "According to our mining engineer who has been working closely on this project, the projected initial alluvial gold production from this project site is estimated at 500 ounces per month". Visual updates of the Misima Project site plan, base camp and alluvial gold mining equipment are currently available through our website www.elmaniel.com
About El Maniel International, Inc:
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 and updates, 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 risk 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.