Phoenix Metals U.S.A. - PMTU Message Board

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Gold/Mining/Energy : Phoenix Metals U.S.A. - PMTU

PMTU 25.79

0.0%

Oct 29 3:33 PM EDT

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To: Chuca Marsh who wrote (30)	1/18/1999 6:38:00 PM
From: banco$	Read Replies (1) of 80

99/01/18 News Release - "Completion of Year-End Equipment Maintenance" 99/01/18 Market News Publishing Inc. PHOENIX METALS USA II INC ("PMTU-L") - Completion of Year-End Equipment Maintenance Robert F. Flaherty, President of Phoenix Metals U.S.A. II, Inc. (PMTU) announces the completion of year-end equipment maintenance including the bricking of the 13.5-ton smelter and three-shift dore' metal production at the Black Mountain refinery, Searchlight Nevada. Phoenix Metals U.S.A. II, Inc. is pleased to announce the rebricking of the 13.5-ton smelting furnace with the assistance of a third party contractor. The furnace is now capable of 24 hour smelting operations and production of up to two tons of dore' metal daily. The Company has hired eight additional refinery staff over the last month to handle the second and third production shifts. All new refinery personnel will complete Mining and Health Safety training within the next two weeks and are closely supervised by management prior to and during the training period. The Company is continuing its program to add electrowinning cells and has increased its capacity to produce precious metal anode mud at the Searchlight refinery. Produced anode mud is continually being inventoried for further separation and sale near the end of the first quarter of 1999. The move into the new Company corporate offices has been rescheduled for the end of January or beginning of February, 1999 by the building management due to construction delays during build-out of the space. Shareholders will be advised of a final move date in a follow-up news release. Following the move, the Company will be announcing its first shareholder meeting to be held at its new corporate offices and adjacent facilities. This will be another milestone event in the growth of the Company with significant organizational announcements to be made to those in attendance, followed by immediate media and news releases to shareholders. Phoenix Metals U.S.A. II, Inc. is a closely held non-reporting public company, which trades on the OTC Bulletin Board under the symbol PMTU. For further information please view the Company web site at www.phoenixmetals.com or contact the Company directly. TEL: (702) 869-6181 Robert F. Flaherty, President FAX: (702) 869-6286 Diana Lee Flaherty, Chairperson

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