Amazon Mining Reports Financial Results for 2007

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[{"type":"text","content":"\n\n\n\nTORONTO, April 30 /CNW Telbec/ - Amazon Mining Holding Plc (TSX-Venture:\nAMZ) today announced its audited financial results for the eight-month period\nended December 31, 2007.\n\n\nFor the eight-month period ended December 31, 2007 the net loss increased\nto (pnds stlg)343,234 from a loss of (pnds stlg)146,663 incurred during the\ntwelve-month period ended April 30, 2007. As the Company is engaged in mineral\nexploration, no revenues are currently being generated from its operations.\n\n\nA significant increase in administrative expenses stemming from the\npreparation and successful filing of its Initial Public Offering ("IPO") in\nNovember 2007 contributed to the increase in loss for the period. Though the\nCompany was primarily engaged in IPO activity, it did continue to maintain its\nproperty acquisition commitments throughout the period and began extensive\ndrilling programs near the end of December 2007\n\n\nAchievements in 2007:\n\n\n- Closed the IPO in November 2007 for gross proceeds of C$16 million\n- Became a reporting issuer on the Toronto Venture Exchange under the\n symbol "AMZ"\n- Commenced drilling operations in late December 2007 on the Tocantins\n and Lavras gold projects in Brazil\n\n\nAbout Amazon\n\n\nAmazon is listed on the TSX Venture exchange and is a mineral exploration\ncompany engaged in acquiring and developing gold exploration properties in\nBrazil. Its strategic focus is to acquire projects with demonstrated potential\nfor hosting gold deposits and to define resources through exploration and\ndrilling campaigns.\n\n\nOn behalf of the Board of Directors of Amazon Mining Holding Plc,\n\n\nCristiano Veloso, President & Chief Executive Office\n\n\nTHE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY\nOR ACCURACY OF THIS RELEASE AND THE INFORMATION CONTAINED HEREIN. THIS PRESS\nRELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH INCLUDE BUT IS\nNOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE FINANCIAL OR OPERATING\nPERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS, STATEMENTS\nREGARDING USE OF PROCEEDS, EXPLORATION PROSPECTS, IDENTIFICATION OF MINERAL\nRESERVES, COSTS OF AND CAPITAL FOR EXPLORATION PROJECTS, EXPLORATION\nEXPENDITURES, TIMING OF FUTURE EXPLORATION AND PERMITTING, REQUIREMENTS FOR\nADDITIONAL CAPITAL,...

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