VANCOUVER, Oct. 9 /CNW/ - Pebble Creek Mining Ltd. (the "Company") is
pleased to announce that the Indian Ministry of Mines has approved the
Company's Mining Lease application on 386 Hectares at Askot and has returned
it to the State of Uttarakhand for granting. Central government approval opens
the way for the relevant authorities to process other permits and clearances
such as environmental, forest and the Company's mining plan. The Company has
drafted all of these applications and has already submitted some of them.
Drilling is proceeding at the Company's Askot and Gadarwara prospects
under supervision of Andrew E. Nevin, P.Eng., a Qualified Person under
At the Company's Annual General Meeting on September 27, 2007, Douglas A.
Nevin was elected as a director to fill the vacancy left by the resignation of
David C.M. Bell prior to the AGM. Mr. Nevin is a businessman resident in North
The Company is well funded and committed to exploration and mine
development in India. In addition to holding Askot and Gadarwara, it holds
title to one other prospect and has 16 applications pending on a total of more
than 14,000 square kilometres.
On Behalf of the Board
Gyan C. Singhai, P.Eng.
Forward-Looking Statements. This news release contains forward-looking
statements, which address future events and conditions, which are subject to
various risks and uncertainties. The Company's actual results, programs and
financial position could differ materially from those anticipated in such
forward-looking statements as a result of numerous factors, some of which may
be beyond the Company's control. These factors include: the availability of
funds; the timing and content of work programs; results of exploration
activities and development of mineral properties; the interpretation of
drilling results and other geological data, the uncertainties of resource and
reserve estimations, receipt and security of mineral property titles; project
cost overruns or unanticipated costs and expenses, fluctuations in metal
prices; currency fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of
the Company's management on the date the statements are made. The assumptions
used in the preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such undue reliance
should not be placed on forward-looking statements.
"The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release."
For further information:
For further information: Gyan Singhai, Executive Chairman, Telephone:
(604) 696-6101; Mike Romanik, Investor Relations, Verenex Capital Corp.,
Telephone: (204) 724-0613; Ken Norman, Investor Relations, Telephone: (250)