ZNXT ZNext Mining Corporation Inc (CE)

ZNext Mining Industries, Inc. (PINKSHEETS: ZNXT) (OTC Preferred: ZNXTP) announces today that ZNext's Board of Directors during its October 27th Special Board Meeting decided that shareholders collectively holding more than 50% of the voting shares, having consented to waive notice of shareholders meeting resolved and passed that the company is doing a Reverse Split on its Preferred Stock, Symbol: ZNXTP, and issuing a Preferred Dividend to the ZNXT Common Stockholders based on the record/effective date of Nov. 7, 2008, as a result of the following corporate actions:

--  The Corporation is reducing the issued and outstanding shares of its
    Preferred Stock by a 1000:1 Reverse Split Ratio; that for every 1,000
    Preferred shares (Pre-Split) are reduced to 1 Preferred share (Post-Split)
    on the effective record date of November 7, 2008.

--  The Company is paying a Dividend to its Common Shareholders of 1 post-
    split 1000:1 reverse split Preferred Share (currently ZNXTP); that for each
    1,000 Common shares (Symbol: ZNXT) held on the record date of November 7,
    2008; the distribution date is set for November 10, 2008.  Those common and
    preferred shareholders that would receive less than 1 preferred share will
    be rounded up to receive a minimum of 1 preferred share.

--  The Dividend Distribution date is set at November 10th, 2008 with ZNXT
    Common Shareholders rounding up their dividend, to the beneficial level, so
    that they will receive a minimum of 1 post 1000:1 reverse split preferred
    share as a dividend. All fractionated shares will round up to whole shares
    and there is no reverse split of the common shares.
    

The X-Dividend date will be set by MDI Nasdaq and should be announced thereafter. Those who buy and own shares through their brokerage firms to the X-date should be entitled to the Preferred Dividend. The One (1) Post Split Preferred Share of ZNext Dividend will be distributed for every one thousand (1,000) ZNXT Common Shares held on the record/effective date of November 7, 2008. This means that all ZNext Mining Common Stock Shareholders will receive a minimum of one (1) Preferred share as Dividend in their portfolio if their ZNXT Common stock holding is 1000 shares or less, and current Preferred shareholders will also maintain at least 1 post reverse split preferred share.

This dividend will be automatic and ZNXT shareholders will not have to do anything. The company decided to make this dividend due to the fact that most of the current common shareholders missed out on the first preferred dividend and the preferred reverse split combined with the round ups should add value to our common and preferred shareholders' accounts/holdings.

FORWARD STATEMENTS:

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Investor Relations Denise Bravs Phone # USA (888)-498-0001 FAX: (888)-588-0854 e-mail: Email Contact URL: www.ZNXTMINE.com