EMLL News El Maniel International, Inc Receives Re

EMLL News El Maniel International, Inc Receives Renewal for Mining Lease in Papua New Guinea

2012-03-26 08:29 ET - News Release

NEW YORK, March 26, 2012 (GLOBE NEWSWIRE) -- El Maniel International Inc (Pink Sheets:EMLL) is currently involved in the alluvial gold mining as well as oil and gas business and the company is pleased to announce today that we have successfully renewed the Mining Lease (ML) known as ML153 of approximately 100 acres in Kompiam District of Enga Province in Papua New Guinea for a period of 10 years. "We are extremely excited to receive the 10 years renewal approval for ML153 and with this, we are confident in carrying out full-fledged development on this exceptional gold property with equipment and experienced personnel at our disposal," according to Jamie Khoo, CEO of El Maniel International, Inc. "As highlighted previously, assay results from initial samples extracted from ML153 pointed exceptionally high quality gold recovery of 76.97% and this milestone has become a significant asset to the Company due to our persistent efforts in creating value for the Company and shareholders."

In addition to the mining license renewal, the joint venture sealed between El Maniel International, Inc ("EMLL") with 80% interest and the license holder Kwoe Resources Development Corporation Limited ("KRDC") with 20% interest under a Joint Venture Tribute Mining Agreement has also been approved and registered by the Ministry for Mining and Mineral Resources Authority by virtue of Section 119 of the Mining Act 1992 of Papua New Guinea "We are exceptionally thrilled to note that our joint venture for ML153 has been approved and registered officially and this give us absolute reasons to go ahead with an aggressive resource definition and mine development program on ML153," added Jamie Khoo. For further information and updates, stay tuned to www.elmaniel.com