| | | September 10, 2008
MBMI Announces Mining Permits Extensions
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| | Vancouver, B.C., September 10, 2008 - MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX V: MBR) is pleased to advise that the Philippine government has renewed two of the Small Scale Mine Operating ("SSMO") permits that are related to the Alpha nickel property in Palawan, Philippines. The renewal of the SSMO permits will allow the Company's Philippine partners to continue the extraction and sale of up to 50,000 metric tonnes of raw nickel material, per permit, per year for a further two years through to September 2010.
"We are very pleased with the Philippine government's decision to renew these permits. This now enables the Alpha project to continue material extraction and shipping operations while the full-scale permit applications are reviewed and processed," said Michael Mason, President and Director of MBMI.
The Company's Philippine partners were originally granted SSMO permits for the Alpha nickel property in 2006 which has allowed for the evaluation, extraction, testing, and sales of nickel raw materials to Asian industrial consumers. Financial and Technical Assistance Agreement (FTAA) applications related to the Alpha property and three other Palawan nickel projects are advancing through an approval process within the Philippine Department of Environment and Natural Resources (DENR) and once granted would allow for full-scale commercial production.
MBMI Resources Inc. is a Canadian-based mining company focused on the exploration and development of nickel mineral properties in the Philippines. MBMI and its partners control eight nickel laterite projects in the Philippines, covering an area greater than 22,000 hectares. MBMI's objective is to become a major supplier of high-grade nickel products to primary industrial consumers in Asia.
ON BEHALF OF THE BOARD OF DIRECTORS
"David G Tafel"
VP Corporate Development, Director
Further Information
For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com or contact Investor Relations at 1-877-399-1991 or mbr@mbmiresources.com.
The TSX Venture Exchange has not reviewed and does not take responsibility for the accuracy of this release.
This news release may contain forward-looking information including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. At this time the Company has not yet established NI 43-101 compliant mineral resources or mineral reserves that would support a commercial mining operation.
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