Metalline Announces Agreement with JDS Energy & Mining, Inc.
Metalline Mining Company (NYSE Amex: MMG) is pleased to announce the execution this week of a professional services agreement with JDS Energy & Mining, Inc. ("JDS") of Vancouver and Kelowna, B.C., Canada. JDS is a rapidly growing company servicing the mining industry globally. Its highly experienced team of Professional Geologists and Engineers specialize in exploration/development project management, feasibility study preparation/analysis, safety and environmental operating procedures, design and engineering, trade procurement (excavation, drilling, blasting, etc.), accounting and administration. See www.jdsmining.ca for further information regarding JDS.
Mr. Allan Reeves, P.Geo., R.E.T., PMP, Senior Project Manager with JDS has been assigned to work on the C ompany's Sierra Mojada Project, Mexico along with Jeff Stibbard, JDS founder and President and other members of the JDS team.
Mr. Roger Kolvoord will retire as the Company's Executive Vice President effective July 31, 2010. The Company would like to thank Roger for his hard work and loyal service and wishes him well in his retirement.
The Company is also pleased to announce that, subject to approval of the NYSE Amex, it expects to close a private placement of 200,000 units of Company securities. Each unit consists of one common share and one 12-month warrant to purchase an additional common share. The units are priced at $0.60 per unit, the closing price of the Company's shares on July 21, 2010. The warrants are exercisable at $0.70 per share. The investors are Jeffco Holdings Inc., an affiliate of JDS, (for $100,000) and Mr. Allan Reeves ($20,000). The Company is very pleased with this show of support for the Sierra Mojada project.
About Metalline Mining Company
Metalline Mining Company is focused on mineral exploration. Metalline currently owns mineral concessions in the municipality of Sierra Mojada, Coahuila, Mexico and holds licenses in Gabon, Africa. Metalline conducts its operatio ns in Mexico through its wholly owned Mexican subsidiaries, Minera Metalin S.A. de C.V. and Contratistas de Sierra Mojada S.A. de C.V. To obtain more information on Metalline Mining Company, visit the Company's web site (www.metallinemining.com).
This news release contains forward-looking statements regarding future events and Metalline's future results that are subject to the safe harbors created under the Securities 2 Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act") and constitute "forward looking information" within the meani ng of Canadian securities laws. These statements include statements about Metalline's planned drilling program and are based on material factors and assumptions including Metalline's management's current expectations, estimates, forecasts, and projections about the industry in which Metalline operates and the beliefs and assumptions of Metalline's management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Metalline's future financial performance, Metalline's anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncert ainties, and assumptions that are difficult to predict, including the risk that Metalline's drill program may not be successful or result in the discovery of commercially mineable deposits of ore and those risks identified in Metalline's Annual Report on Form 10-K for the fiscal year ended October 31, 2009 under "Risk Factors, " and in subsequent reports filed with the Securities and Exchange Commission. Therefore, actual results may differ materially and adversely from those expressed in any forwardlooking statements. Metalline undertakes no obligation to revise or update any forwardlooking statements for any reason.