South American Minerals, Inc. Gold Production and Sales Receipts for Three Months Ending March 31, 2007 Increased Marketedly
26 April 2007 - 1:17AM
PR Newswire (US)
NEW YORK, and GEORGETOWN, Guyana, April 25 /PRNewswire-FirstCall/
-- SOUTH AMERICAN MINERALS, INC. (OTC Pink Sheets: SAMM) announced
gold production in Guyana, South America by the company and Cuyuni
River Venture No. 1, LLC in which SAMM's wholly owed subsidiary,
North American Resources, Ltd. (NARIL) holds a 65% interest,
totaled 1,410 ounces during the period January 1, 2007 through
March 31, 2007. This compared with a total of 740 ounces produced
during the same period in 2006. Sales receipts for the gold totaled
$797,000 in 2007 compared with $358,000 for the same period in
2006. Production for 2007 was achieved by 3 hydraulic suction
dredges of which 2 dredges were owned by the joint venture and
operated by NARIL. In addition to its interest in the joint
venture, the Company itself owns two additional dredges of which
one is currently in operation. Except for the historical
information herein, certain matters discussed in this release
include forward looking statements that may involve a number of
risks and uncertainties, which projections and statements are made
pursuant to the "Safe Harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Actual risks may vary significantly
based on a number of factors, including but not limited to: risks
in production relating to weather and the prices of fuel and gold
on the world market. DATASOURCE: South American Minerals, Inc.
CONTACT: Saul Horing, President, of South American Minerals, Inc.,
+1-212-668-0842, or fax, +1-212-344-4537 Web site:
http://www.southamericanminerals.com/
Copyright