Miramonte Mining AG

Miramonte Mining AG reports on 2007 Financials

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Zürich (euro adhoc) - Zurich, May 28th, 2008. Miramonte Mining today reported total revenue of $1.17 million for the fiscal year 2007, ended December 31st, 2007. The total costs of sale came up to $0.66 million; the total expenses were $0.52 million. The net loss for the fiscal year 2007 was $9,495.

"Our focus in 2007 was the expansion of the concession areas of Miramonte Mining in South America. This was realized successfully and due to the upgrade and enhancement of our processing plant in Portovelo/Zaruma in the province of El Oro in southern Ecuador we were able to keep the cost per ounce currently at around $280", outlined Larry Williams, CEO of Miramonte Mining.

The completion of the plant expansion of Miramonte Mining in Portovelo/Zaruma is scheduled in the next two month. "With the start of production in Nicaragua in June 2008, we expect the company results will be significantly higher than 2007. We assumed that Miramonte Mining will have a total production of more than 3,500 ounces of gold this year", added Larry Williams. The results of the Nicaragua Gold S.A. project will be part of the Miramonte Mining AG figures 2008.

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:
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
investors@miramontemining.com Fax +49 (0)69 95 90 83 99
www.miramontemining.com m.goliath@financial-relations.de

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

Weitere Meldungen: Miramonte Mining AG

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