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SILVER
FALCON MINING (SFMI)
MEETS OBJECTIVES OF 2008 BUSSINESS PLAN.
New York, NY -- (MARKET WIRE) --
12/04/08 -- Silver Falcon Mining, Inc. (OTCBB:SFMI.PK - News)looks back at its 2008
business plan agreed to by its Board of Directors in late 2007.
The
SFMI Board of Directors approved a business plan which called for the
following objectives to be met within the 2008 calendar year:
· Build and start up,
100 tons per day precious metal processing mill within a 50 miles
radius of War Eagle Mountain.
· Bring previously
mined ore (tailings) as needed, from the mountain to the plant, for a
six month production of Gold and Silver.
· Re-open one of the
mine shafts on the property and prepare it for further activity; in
accordance with the Company?s operating contract with GoldCorp
Holdings, Inc.
· Mandate the
officers of the company to file documents with the United States
Securities and Exchange Commission, in order to become fully reporting
and provide financial transparency.
SFMI?s Management reports that it has fulfilled all
aspects of its aforementioned 2008 business plan.
Having purchased and installed state of the art
milling equipment, SFMI goes into operation by the end of this year,
processing approximately one hundred tons of ore per day.
The Company transported ore, from atop War Eagle
Mountain to its Melba, ID mill. The Company reports enough mill-feed
tonnage available to last until mid-year 2009. Ore transport operations
will resume, in the spring, providing additional mill-feed for 12 months
of continuous production.
SFMI?s mining engineers opened the ?Belle Peck? adit,
thus giving access to the ?Poorman? complex of gold and silver veins.
This secured access gives our personnel, the year round ability to
conduct the geological and mining steps necessary to start underground
operations in the spring of 2009.
The Company, in October 2008, acquired the ?Sinker
Tunnel?, which is situated at a lower elevation on the mountain and
allows us easy year round access. This tunnel structure allows engineers,
miners and geologist further internal access to SFMI?s underground
minerals contained above and around the tunnel. Two more ?Deep-Shaft?
mines were included in this purchase, as well as, 4 mill sites.
At the beginning of the year, the property owned by
GoldCorp Holdings, Co., covered approximately 172 acres. In 2008, it
filed mineral claims at the Bureau of Land Management to an additional
1,400 acres on War Eagle Mountain, giving it almost complete mineral
rights to the area. Under SFMI?s long term contract with GoldCorp
Holdings, Co., SFMI?s geologist/ mining engineers began a mapping
operation of this total acreage which will result in a current picture
of the underlying value of the numerous precious metal veins and
determine the best access routes for future development.
Management retained the services of an independent
auditor, who is going through an exhaustive financial audit of the
company?s affairs. A registration statement filing, under the USSEC
1933 Act, will be submitted with the exchange commission upon the
audit?s completion.
Mr. Pierre Quilliam, President of Silver Falcon
Mining, Inc., said, ?We had an ambitious plan and carried it out
successfully thanks to the selfless dedication of our employees and
contractors. We hired competency in the various disciplines needed to
carry out our successful mining program, now and in future years. This
past performance should make it easier to get Board of Directors
approval for the 2009 operations plan. ?
About SFMI:
Silver Falcon Mining, Inc., is an exploration and
development Company specializing in high-grade Gold and Silver mining
properties in North America. Its primary operations at War Eagle
Mountain, Owyhee County, ID is a Gold and Silver rich property, where
it has the developmental and operating rights to ( 14 ) deep-shaft
mines covering the Mountains? primary epithermal ore producing veins.
Further Information contact Rich Kaiser, Investor
Relations, YES INTERNATIONAL 800-631-8127; www.silverfalconmining.com .
Silver Falcon Mining cautions that statements made in
this press release constitute forward-looking statements, and not
guarantees of future performance and actual results or developments may
differ materially from the projections in the forward-looking
statements. Forward-looking statements are based on the estimates and
opinions of management at the time the statements are made.
ENDS
Investor Relations
Yes International Ltd.
Attn: Rich Kaiser
3419 Virginia Beach Blvd., #252
Virginia Beach, VA 23452
Tel: 757-306-6090
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