Amazon Reports Q1 2008 Results



    TORONTO, June 2 /CNW Telbec/ - Amazon Mining Holding Plc
(TSX-Venture: AMZ) ("Amazon" or the "Company") today announced its unaudited
interim consolidated financial statements for the three-month period ended
March 31, 2008.
    For the three-month period ended March 31, 2008 the net loss increased to
(pnds stlg)460,707 from a loss of (pnds stlg)86,269 compared to the
three-month period ended April 30, 2007. The loss widened in Q1 2008 due to
the commencement of active exploration activities late in December 2007.

    Overview of the first three months of 2008:

    
    - Completed first phase of a diamond drilling program on the Tocantins
      concession
    - Commenced first phase of a diamond drilling program on the Lavras
      concession
    - Exploration expenditures conducted throughout Q1 2008 on the Company's
      gold projects aggregated to (pnds stlg)442,070
    - Oscar Yokoi was appointed Vice President Exploration in February 2008
    - Administrative expenses increased quarter over quarter due to increased
      salaries and office set-up costs associated with ramping exploration
      activities in the Brazilian subsidiaries
    - The Company ended the period with a working capital position of
      (pnds stlg)6,091,485
    

    About Amazon

    Amazon is listed on the TSX Venture exchange and is a mineral exploration
company engaged in acquiring and developing gold exploration properties in
Brazil. Its strategic focus is to acquire projects with demonstrated potential
for hosting gold deposits and to define resources through exploration and
drilling campaigns.

    On behalf of the Board of Directors of Amazon Mining Holding Plc,
    Cristiano Veloso, President & Chief Executive Officer

    THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS RELEASE AND THE INFORMATION CONTAINED HEREIN. THIS PRESS
RELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH INCLUDE BUT IS
NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE FINANCIAL OR OPERATING
PERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS, STATEMENTS
REGARDING USE OF PROCEEDS, EXPLORATION PROSPECTS, IDENTIFICATION OF MINERAL
RESERVES, COSTS OF AND CAPITAL FOR EXPLORATION PROJECTS, EXPLORATION
EXPENDITURES, TIMING OF FUTURE EXPLORATION AND PERMITTING, REQUIREMENTS FOR
ADDITIONAL CAPITAL, GOVERNMENT REGULATIONS OF MINING OPERATIONS, ENVIRONMENTAL
RISKS, RECLAMATION EXPENSES, TITLE DISPUTES OR CLAIMS, AND LIMITATIONS OF
INSURANCE COVERAGE. FORWARD LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED BY
THE USE OF WORDS SUCH AS "PLANS", "EXPECTS", OR "DOES NOT EXPECT" OR "IS
EXPECTED", "ANTICIPATES" OR "DOES NOT ANTICIPATE", OR "BELIEVES", "INTENDS",
"FORECASTS", "BUDGET", "SCHEDULED", "ESTIMATES" OR VARIATIONS OF SUCH WORDS OR
PHRASES OR STATE THAT CERTAIN ACTIONS, EVENT, OR RESULTS "MAY", "COULD",
"WOULD", "MIGHT", OR "WILL BE TAKEN", "OCCUR" OR "BE ACHIEVED". FORWARD
LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER
FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE
COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR
ACHIEVEMENTS EXPRESSED OR IMPLIED BY SAID STATEMENTS. THERE CAN BE NO
ASSURANCES THAT FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS
ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE
ANTICIPATED IN SAID STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE
RELIANCE ON FORWARD-LOOKING STATEMENTS.




For further information:

For further information: Cristiano Veloso, President & Chief Executive
Officer, +44 (0) 20 8133 7607, Fax: +44(0)20 7405 7773, cv@amazonplc.com;
Nadine Williams, Investor Relations, (416) 866-2966, Fax:(416) 867-9393,
nw@amazonplc.com; www.amazonplc.com; Renmark Financial Communications Inc.:
Dan Symons, dsymons@renmarkfinancial.com; Barry Mire,
bmire@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717;
www.renmarkfinancial.com

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AMAZON MINING HOLDING PLC

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