Patented Production of Pre-Processed Ores Begins
98/10/06
Robert F. Flaherty, President, and Diana Lee Flaherty, Chairperson of Phoenix Metals U.S.A.. II, Inc. (the "Company"), are pleased to announce limited, full-cycle production of gold, silver and platinum group metals from pre-processed head ore utilizing patented and proprietary technology along with standard recovery methods. The principals of the Company earlier assigned the use of the basic patent to the Company for the extraction of silver, gold and platinum group metals from refractory volcanic ores. The continuous smelting capacity is initially established at 2 tons/per day of dore' with a three shift operation. Current production consists of one line with a single shift. A pre-production contract is being arranged for the financing or sale of dore', produced gold, silver and platinum group metals.
The Company is in the final selection process for the retention of a national accounting firm and an experienced management team has been organized. The Company has initiated action to re-incorporate in the State of Nevada. A copy of the Company's financial statements for the fiscal year ended June 30, 1998 is available by fax or written request to the Company.
The Company earlier contracted for the design of its new internet web site for investors and interested parties with a launch date anticipated in approximately two weeks. This announcement will be made in a follow-up news release. For those shareholders who
have inquired, all Company computer systems and systems software handling control and accounting functions are configured in a modern PC and PC network environment and are fully Y2K (Year 2000) compliant.
Management is pleased with the recovery and consistency of its recent control assays obtained from the commercial dore' metal pours, and the refinery is now producing several hundred pounds of dore' metal per day on a regular basis at this writing. After observing production results over a stabilizing period, the Company will release results
from the production of precious metals.
The Company will move its headquarters to the new leased offices around the beginning of the New Year. The Company will occupy 3.200 square feet of office space in the new Sir Williams Court complex at 801 Rampart Blvd, in the Summerlin area of West Las Vegas. We look forward to making additional reorganization and staffing
announcements in conjunction with the occupancy of our new headquarters. Several recent photographs at the refinery and the building in which our new headquarters will be located are included for your review, and are available through the Company.
Phoenix Metals U.S.A. II, Inc. is a closely held non-reporting company which trades on the NASDAQ Bulletin Board under the symbol PMTU. For further information, contact the Company directly.
Tel: (702) 869 -6181 Robert F. Flaherty, President
Fax: (702) 869-6286 Diana Lee Flaherty, Chairperson
(c) Market News Publishing Inc.
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