De Beira Goldfields Inc.: Sale of Gold and Silver
Ticker Symbol: X:FRANKFURTbreites Grinsen1Q Ubreites GrinsenBGF
PERTH, WESTERN AUSTRALIA -- (MARKET WIRE) -- 05/11/07
http://media.marketwire.com/attachments/200705/...051205&sourceType=1
De Beira Goldfields Inc. ("DE BEIRA" or the "Company") (OTCBB: DBGF)(FWB: D1Q)(WKN: A0JDS0) is pleased to announce that USD$1.84 million revenue has recently been earned from sale of approximately 2,585 ounces of gold and 7,728 ounces of silver by Minanca Minera Nanguipa, Compania Anonima ("Minanca").
Minanca is an Ecuador company exploring for and now producing gold and silver at its project located in the highly productive Portovelo-Zaruma gold belt in the El Oro province of Ecuador. De Beira is completing the acquisition of 80% of Minanca (details provided previously) and has, in the meantime, provided loan funds to Minanca to enable it carry out new exploration and also improve its production capacity.
From the revenue generated from the sale of gold and silver, Minanca has now commenced repayment of the loan funds from De Beira.
A new resource estimate for the Minanca project is anticipated for completion by the end of the June 2007 quarter.
Titiribi Copper / Gold Project - Colombia (De Beira earning up to 70%)
Diamond drilling is continuing at the Titiribi project, where De Beira announced a resource estimate in December 2006.
Condoroma and Suyckutambo Silver / Gold Projects - Peru (De Beira earning up to 70%)
Exploration is due ti start at the Condoroma and Suyckutambo Silver / Gold Projects. However, De Beira in conjunction with its joint venture partners is also presently carrying out an assessment of silver and gold production from high grade material. The assessment includes a resource estimate, an analysis of production methods, equipment requirements and costs of production. De Beira hopes to release further information about possible production arrangements over the coming months.
Reg Gillard, President
About DE BEIRA GOLDFIELDS INC.
DE BEIRA is a Nevada based mineral exploration company. The Company has recently initiated a new program to evaluate undervalued assets for potential addition to its mineral claim portfolio.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology.
These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire properties on commercially viable terms; challenges to our title to our properties; operating or technical difficulties in connection with our exploration and development activities; currency fluctuations; fluctuating market prices for precious and base medals; the speculative nature of precious and base medals exploration and development activities; environmental risks and hazards; governmental regulations; and conduct of operations in politically and economically less developed areas of the world.
Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to our most recent annual report on Form 10KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov.
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.
Contacts:
De Beira Goldfields Inc.
Reg Gillard
Director
+61 (08) 9240 6717 / 9240 2836
+61 (08) 9240 2406 (FAX)
Website: www.debeira.com
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