MMEX Mining Announces Acquisition of 50% Interest in Coal Mine

MMEX Mining is pleased to announce that the Companmaquina trituradora para piedras peqeniasy successfully completed the acquisition of its 50% interest in its first metallurgical coal mine project in Colombia through the execution of its exclusive option agreement.

The Hunza Mine is in the Boyaca Province of east-central Colombia, approximately 200 km. northeast of the city of Bogota. The property is accessible by road and consists of three coal titles, comprising a tenure parcel of 567.8 hectares. Active artisanal underground mining is currently conducted on one of the titles. Norwest Corporation, the U.S. based coal consultancy, has evaluated the potential coal tonnage of the three mining titles and concluded in a technical report issued on April 2011 that the concessions have a reasonable in-place coal tonnage of high quality, medium volatility metallurgical coal. The concessions are permitted to produce up to...