Piedmont Mining Reports Exploration Plans for PPM Gold Project
Reno, NV – April 22 , 2008 - Piedmont Mining Company, Inc. (OTC BB: PIED) today reported that permitting for a 15 hole drill program at the PPM project this spring is now underway. The PPM project is located in northern Nevada, approximately 12 miles northwest of the Getchell, Pinson and Twin Creeks gold deposits.
These 15 holes will total approximately 3,000 feet. They are planned to test the surface of basement highs for a gold system under the shallow pediment. The targeting of these drill holes will be guided by prior exploration work, which has included a magnetic survey, a gravity survey, sagebrush biogeochemistry and a mercury gas soil sampling program. A subsequent drill program would then be planned to test the basement rocks at greater depths depending upon the results of this initial drilling. This exploration program is being managed by Miranda Gold Corp. (TSX-V: MAD) with whom we are working on this project.
Piedmont is an exploration-stage company, exploring for gold and silver in Nevada. It has entered into agreements with experienced and respected exploration groups on 7 properties in Nevada. It participates through funding exploration costs utilizing highly skilled people only on an as needed basis thereby minimizing G&A costs and can drop properties that don’t meet expectations on short notice. The Company had net operating loss carry forwards of approximately $14,900,000 at December 31, 2007. Its Common Stock is traded on the OTC Bulletin Board under the symbol: PIED.
FORWARD-LOOKING STATEMENTS: “Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company’s business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations and projections about the Company’s business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary materially from descriptions herein due to many factors including changes in metals prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company’s Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
Piedmont Mining Company, Inc. Reno, Nevada www.piedmontmining.com
Contact: Robert M. Shields, Jr 212-734-9848;
