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To: MMM Mule who wrote (13356)	4/18/2000 9:36:00 AM
From: Spark	Read Replies (1) \| Respond to of 19297

HCCA (my BRE.X pick..LOL)..just got some news..step closer to 7 BILLION in precious metal find...got me some more at .04 ..pure casino money..ROLL!! Monday April 17, 6:03 am Eastern Time Company Press Release SOURCE: Hexagon Consolidated Companies of America, Inc. Peeples Mining/HCCA Obtains Permits for Silver Valley Property RENO, Nev., April 17 /PRNewswire/ -- Maurice Furlong, president and chief executive officer of Hexagon Consolidated Companies of America, Inc. (OTC Bulletin Board: HCCA - news, HCCAE - news), today announced that the company's subsidiary Peeples Mining Company has obtained permits to build the service road and to begin core drilling at the company's Silver Valley mining property in San Bernardino County, Calif. The company expects to commence activity under the permit within the next 30 days and to collect core drilling samples for further analysis. This initial collection of core samples, the second step in the process toward ``proved' reserves, is aimed at the classification of ``probable' reserves on the company's 10 precious metals claims located on approximately 200 acres near Barstow, known collectively as the ``Silver Valley Claims.' Previously, a report by John Heter Mining & Development Co. (Calif.), estimated the value of ``possible' reserves contained in Hexagon's Silver Valley Claims to be in excess of $7 billion. The Azucar Mine, located within Hexagon's Silver Valley Claims, was mined intermittently for many years. In 1941, the Bureau of Mines reported the extraction of 6 oz. of gold from 20 tons of ore taken from the Azucar Mine. What remains of the mine is a 120-foot shaft along a quartz vein with 125 feet of drifts. Furlong also reported that HCCA/Peeples is preparing a ``Reclamation Plan,' approval of which by the Bureau of Land Management will allow the company to commence the first phase of mining operations at Silver Valley to ``prove' the reserves. Furlong indicated that installation of new, more efficient processing equipment continues at the company's Skull Valley (Ariz.) property on schedule. This new equipment, together with the company's conversion to a higher yield processing technique, is expected to result in a threefold increase in processing capacity of ore concentrate per hour. Production is anticipated within approximately 30 - 45 days. Michael Pietrzak, the company's chief counsel, indicated that Hexagon may postpone the filing of its 10-K for the year ended December 31, 1999, pending clarification by the Securities and Exchange Commission of certain parameters for the presentation of balance sheet items. This clarification is being sought by Hexagon's attorneys. ``We are pleased with the progress we are making with regard to the actual business of the company. Relative to our 10-K filing, we reasoned that very little benefit would inure to the company or to its shareholders by our submitting additional filings prior to receiving some clarification,' said Pietrzak. ``Once the parameters have been defined, compliance will be greatly simplified, and the company is prepared to act quickly and responsibly to meet its filing obligations,' he said. Hexagon Consolidated Companies of America, Inc. is a company with interests in mining, health care, music publishing and real estate. NOTE: This news release contains statements that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are inherently uncertain, and the company's actual results may differ from management's expectations. Further information on potential factors that could affect the financial condition and results of operations of the company are included in the filings of the company with the Securities and Exchange Commission. SOURCE: Hexagon Consolidated Companies of America, Inc. -------------------------------------------------------------------------------- More Quotes and News: HCCA - news HEXAGON CONS (OTC BB:HCCAE.OB - news) Related News Categories: mining/metals