DALLAS, Nov. 21, 2012 /PRNewswire/ -- Southridge Minerals, Inc. (PINKSHEETS: SRGE) ("Southridge" or the "Company") is pleased to announce a shareholder update and releases positive events at its "El Horconcito" Gold property, in the state of Durango, Mexico. Due to numerous shareholder inquiries following the recent announcement, "Southridge Evaluates Strategic Alternatives for Cinco Minas Property and Reports Advanced Discussions with Major NYSE Listed Metal Producers concerning Cinco Minas", the Company would like to update its shareholders.

The Company and its advisers are currently evaluating alternatives and are in advanced discussions with two major NYSE listed metal producers regarding their Jalisco mineral concessions and properties. One of the firms has already signed preliminary documents for the full acquisition of the Cinco Minas property. Southridge would like to give its shareholders an indication of how the funds will be used in the event a full sale is affected for its Cinco Minas Property. The company would like to state that shareholders will definitely participate in a direct, immediate, tangible benefit of such sale (i.e. special cash dividend for 20% of the proceeds from the sale of the Cinco Minas Property or a flat 20 cents per share special one-time dividend). Southridge and its Board of Directors can only state at this time that the amount being discussed is in the range of $550,000,000 and $600,000,000 for its Cinco Minas Property. Due to certain reasons the company cannot fully disclose exact details at this time. However the company felt it was very important to release some details to explain what's in it for shareholders and what the company and its Board of Directors are discussing as this time.