U Mining Resources Inc. informs its shareholders that the board of directors has been in constant negotiation and discussion regarding a takeover of UMNG by an established Guinean mining Company. This Company has exhibited serious interest regarding the proposal for a reverse merger with UMNG. The company with which the negotiations are taking place is a mineral exploration company with significant projects in three different sectors of the mining resource industry. It presently owns mining properties in exploitation and through regional, grass-roots generative exploration as well as new geological models, the Company has built a portfolio of 100% controlled projects focused on gold and diamonds.
The strength of this Guinean Company and its partnership with U Mining Resources Inc. will be beneficial to all UMNG shareholders because the potential of their combined assets represents a powerful foundation.