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Amazon Reports Financial Results for 2007
Toronto, ON. - April 29, 2008 - Amazon Mining Holding Plc
(AMZ:TSX-V)(“Amazon” or the “Company”) today announced its audited financial results for the eight-month period
ended December 31, 2007.
For the eight-month period ended December 31, 2007 the net loss increased
to £343,234 from a loss of £146,663 incurred during the twelve-moth period ended April 30, 2007. As the Company is engaged in mineral exploration, no revenues are currently being generated from its operations.
A significant increase in administrative expenses stemming from the preparation and successful filing of its Initial Public Offering ("IPO") in November 2007 contributed to the increase in loss of the period. Through the Company was primarily engaged in IPO activity, it did continue to maintain its property acquisition commitments throughout the period and began extensive drilling programs near the end of December 2007.
Achievements in 2007:
Closed the IPO in November 2007 for gross proceeds of C$16 million
Became a reporting issuer on the Toronto Venture Exchange under the symbol "AMZ"
Commenced drilling operations in late December 2007 on the Tocantins and Lavras gold projects in Brazil
About Amazon
Amazon is listed on the TSX Venture exchange and is a mineral
exploration company engaged in acquiring and developing gold
exploration properties in Brazil. Its strategic focus is to acquire
projects with demonstrated potential for
hosting gold deposits and to define resources through exploration and
drilling
campaigns.
On behalf of the Board of
Directors of Amazon Mining Holding Plc
Cristiano Veloso, President & Chief Executive Officer
For additional information please contact:
Cristiano Veloso, President & Chief Executive Officer
Tel: +44 (0) 20 8133 7607;Fax: +44(0)20 7405 7773;
Email: cv@amazonplc.com
Or
Nadine Williams, Investor Relations
Tel: (416) 866-2966; Fax: (416) 867-9393;
Email: nw@amazonplc.com
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release and the information contained
herein.
adequacy or accuracy of this release and the information contained
herein.
This press release contains certain “forward looking statements”,
which include but is not limited to, statements with respect to the
future financial or operating performance of the Company, its
subsidiaries and its projects, statements regarding use of proceeds,
exploration prospects, identification of mineral reserves, costs of and
capital for exploration projects, exploration expenditures, timing of
future exploration and permitting, requirements for additional capital,
government regulations of mining operations, environmental risks,
reclamation expenses, title disputes or claims, and limitations of
insurance coverage. Forward looking statements can generally be
identified by the use of words such as “plans”, “expects”, or “does not
expect” or “is expected”, “anticipates” or “does not anticipate”, or
“believes”, “intends”, “forecasts”, “budget”, “scheduled”, “estimates”
or variations of such words or phrases or state that certain actions,
event, or results “may”, “could”, “would”, “might”, or “will be taken”,
“occur” or “be achieved”. Forward looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by said statements. There can be no
assurances that forward-looking statements will prove to be accurate,
as actual results and future events could differ materially from those
anticipated in said statements. Accordingly, readers should not place
undue reliance on forward-looking statements.
which include but is not limited to, statements with respect to the
future financial or operating performance of the Company, its
subsidiaries and its projects, statements regarding use of proceeds,
exploration prospects, identification of mineral reserves, costs of and
capital for exploration projects, exploration expenditures, timing of
future exploration and permitting, requirements for additional capital,
government regulations of mining operations, environmental risks,
reclamation expenses, title disputes or claims, and limitations of
insurance coverage. Forward looking statements can generally be
identified by the use of words such as “plans”, “expects”, or “does not
expect” or “is expected”, “anticipates” or “does not anticipate”, or
“believes”, “intends”, “forecasts”, “budget”, “scheduled”, “estimates”
or variations of such words or phrases or state that certain actions,
event, or results “may”, “could”, “would”, “might”, or “will be taken”,
“occur” or “be achieved”. Forward looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by said statements. There can be no
assurances that forward-looking statements will prove to be accurate,
as actual results and future events could differ materially from those
anticipated in said statements. Accordingly, readers should not place
undue reliance on forward-looking statements.