Miramonte Mining AG fulfills all regulations of the new Mining Mandate in Ecuador

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Zürich (euro adhoc) - Zürich, May 13th, 2008. Miramonte Mining (ISIN
CH0028351796 / WKN A0MMH6) today announced that the new Mining
Mandate in Ecuador does not impair the gold mining activities of the
company. Miramonte Mining is running its operations in their
concessions in the Zaruma and Bucay area with total normality.

The Mining Mandate in Ecuador was passed the Constituent Assembly of
the Ecuadorian government on April 18th, 2008. The most relevant part
of this Mining Mandate is that they declared the extinction without
an economic compensation, of all mining concessions which in the
exploration stage, and having made any investment in the development
of the project as at 31st December, 2007, and which have not
submitted the pertinent Environmental Impact Assessment, or which
have not conducted the prior consultation project, including those
pending an administrative resolution.

"Miramonte Mining is mining in Ecuador under a well planned corporate
structure which let us operate each concession as an independent unit
and each area as a different project totally independent of each
other," comments Larry Williams, CEO of Miramonte Mining AG. "Our
corporate policy in Ecuador is to be up to date in all the
obligations with the government such as taxes, concession fees,
environmental impact assessments, and good relations with the
community, among others", continues Larry Williams.

The subsidiaries of Miramonte Mining in Ecuador fulfilled all
licensing requirements and orders of the Ecuadorian government before
March 31st, 2007. Larry Williams adds: "Our ecology philosophy, a
modern working process and the social responsibility for the
communities around the mine sites are further success factors of the
Miramonte Mining AG in Ecuador."

About Miramonte Mining AG Miramonte Mining AG is a small cap gold
mining company with increasing portfolio of projects in Ecuador and
Nicaragua. The head office of the company is located in Zürich,
Switzerland. The stocks of Miramonte Mining are listed in the Open
Market in Frankfurt (ISIN CH0028351796 / WKN A0MMH6)

end of announcement euro adhoc
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ots Originaltext: Miramonte Mining AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Contact

Miramonte Mining AG fr financial relations gmbh

Tel +41 (0)43 500 16 23 Michael Goliath

Fax +41 (0)43 500 16 24 Tel +49 (0)69 95 90 83 12

E-Mail: investors@miramontemining.com Fax +49 (0)69 95 90 83 99

www.miramontemining.com E-Mail: m.goliath@financial-relations.de

Branche: Metals & Minerals
ISIN: CH0028351796
WKN: A0MMH6
Börsen: Börse Frankfurt / Open Market / Entry Standard


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