Miramonte Mining AG

Miramonte Mining AG fulfills all regulations of the new Mining Mandate in Ecuador

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capital investment/companies/finances/shares/stock market/gold mining

Zürich (euro adhoc) - Zürich, May 13th, 2008. Miramonte Mining (ISIN CH0028351796 / WKN A0MMH6) today announced that the new Mining Mandate in Ecuador does not impair the gold mining activities of the company. Miramonte Mining is running its operations in their concessions in the Zaruma and Bucay area with total normality.

The Mining Mandate in Ecuador was passed the Constituent Assembly of the Ecuadorian government on April 18th, 2008. The most relevant part of this Mining Mandate is that they declared the extinction without an economic compensation, of all mining concessions which in the exploration stage, and having made any investment in the development of the project as at 31st December, 2007, and which have not submitted the pertinent Environmental Impact Assessment, or which have not conducted the prior consultation project, including those pending an administrative resolution.

"Miramonte Mining is mining in Ecuador under a well planned corporate structure which let us operate each concession as an independent unit and each area as a different project totally independent of each other," comments Larry Williams, CEO of Miramonte Mining AG. "Our corporate policy in Ecuador is to be up to date in all the obligations with the government such as taxes, concession fees, environmental impact assessments, and good relations with the community, among others", continues Larry Williams.

The subsidiaries of Miramonte Mining in Ecuador fulfilled all licensing requirements and orders of the Ecuadorian government before March 31st, 2007. Larry Williams adds: "Our ecology philosophy, a modern working process and the social responsibility for the communities around the mine sites are further success factors of the Miramonte Mining AG in Ecuador."

About Miramonte Mining AG Miramonte Mining AG is a small cap gold mining company with increasing portfolio of projects in Ecuador and Nicaragua. The head office of the company is located in Zürich, Switzerland. The stocks of Miramonte Mining are listed in the Open Market in Frankfurt (ISIN CH0028351796 / WKN A0MMH6)

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ots Originaltext: Miramonte Mining AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Contact
Miramonte Mining AG           fr financial relations gmbh
Tel +41 (0)43 500 16 23           Michael Goliath
Fax +41 (0)43 500 16 24           Tel +49 (0)69 95 90 83 12
E-Mail: investors@miramontemining.com  Fax +49 (0)69 95 90 83 99
www.miramontemining.com           E-Mail: m.goliath@financial-relations.de

Branche: Metals & Minerals
ISIN:      CH0028351796
WKN:        A0MMH6
Börsen:  Börse Frankfurt / Open Market / Entry Standard



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