United Mining Group, Inc. Lists on OTCQX Market in the USA
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/30/10 -- United Mining Group, Inc. (the 'Company') (TSX: UMG)(OTCQX: UMGZF)(FRANKFURT: UM8) is pleased to announce that the Company's common shares commenced trading today on the OTCQX in the United States under the ticker symbol 'UMGZF'.
United Mining Group began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcqx.com and www.otcmarkets.com.
Charles Pitcher, CEO of United Mining Group, commented, 'The OTCQX has garnered a positive reputation for providing investors improved liquidity, transparency, superior information along with easy access through their U.S. regulated broker dealers, which will provide our US investors with improved access to our equity market.'
Merriman Capital, Inc. will serve as the United Mining Group's Principal American Liaison ('PAL') on OTCQX, responsible for providing guidance on OTCQX requirements.
About United Mining Group
United Mining Group is a profitable, vertically integrated mining company with operations in Idaho, USA. The Company offers a full suite of mining services including contract mining to silver miners in the district. The Company owns its own custom welding and fabrication shop allowing it to repair/rebuild equipment for its own use and for outside mining companies.
The Company is currently earning, through development and operations, an 80% interest in the Crescent Silver Mine adjacent to the Sunshine Silver Mine in the Silver Valley. The Crescent Mine has historically produced 25 million ounces of silver at an average grade of 27.3 opt (SRK Consulting 43-101 report, March 1, 2010). UMG currently has an indicated resource of 6.1 million ounces silver (324,000 tons grading 18.7 opt silver) and additional inferred resources of 4.1 million ounces silver (211,000 tons grading 19.5 opt silver).
UMG is committed to building a senior silver-producing mining company based on aggressive exploration and development of the highly-prospective current land position at Crescent and through the acquisition of additional silver interests.
For more information about the Company, please visit: www.unitedmininggroup.com
On behalf of the Board of Directors,
Charles Pitcher, Chief Executive Officer
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. Forward looking statements in this press release include that the listing on OTCQX will provide our US investors with improved access to our equity market, that we are building a senior silver-producing mining company, that we will have aggressive exploration and development of our current land position at Crescent, that our land is the highly-prospective for mining and that we will make acquisitions of additional silver interests. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the inability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators. Past production of minerals and encouraging exploration results are not necessarily indicative of a commercially exploitable resource.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Contacts:
United Mining Group, Inc.
Greg Stewart
208.682.9018
gstewart@unitedmininggroup.com
www.unitedmininggroup.com