| | | September 06, 2006
MBMI Nickel Subsidiaries Issued Important Permits
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| | September 6, 2006. MBMI RESOURCES INC. (MBR:TSVX) "MBMI" reports that further to its August 1, 2006 news release, the Company's subsidiaries in the Philippines have been granted Small Scale Mining Operating (SSMO) permits for the Alpha nickel property in Narra, Palawan, Philippines.
The issuance of the SSMO permits enables the Company's subsidiaries to commence extraction of bulk samples of raw nickel material for shipment to Asian consumers this year. The test results from bulk samples will provide data which will assist the Company in moving toward the development of a full-scale mining operation conforming to world class environmental standards and Philippine law. The net revenues from the bulk samples will be re-invested in additional exploration and development programs on the property that will support the social and economic development of the local communities in the Narra region and the province of Palawan.
SSMO permits are issued by the provincial Philippine governments to encourage exploration and development of mineral properties. The Company has received strong local community support and the project has been endorsed by the provincial Palawan Council for Sustainable Development.
President of the Philippines, Gloria Macapagal Arroyo, recently stated "The Philippine government is actively promoting the mineral industry towards growth and development --- conscious and sensitive to environmental concerns".
Palawan, Philippines has been exporting raw nickel material for approximately 25 years, and the Alpha project is ideally located to supply the expanding Asian stainless steel markets.
MBMI is jointly evaluating the development of four nickel laterite projects in Palawan, Philippines and four nickel projects in Samar, Philippines covering an area of 22,000 hectares. The Company's objective is to become a major supplier of high-grade nickel products to the primary nickel consumers in Asia.
For further information:
David G. Tafel - VP Corporate Development
Tel: 604-683-1991; Fax: 604-683-8544; Toll free: 1-877-399-1991
Email: mbr@mbmiresources.com
Website: www.mbmiresources.com
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. |
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