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Energy Industry News Releases

Picchu Rio Gold Mining Co. SAC receives Exploit go ahead for river mining of their Gold, Precious Metals and Rare Earths river deposits.

(EMAILWIRE.COM, April 09, 2010 ) Tokyo, Japan - Picchu Rio Gold Mining Corporation S.A.C. ( “ Picchu Rio Gold ” ) is pleased to announce that it has completed it’s Phase IV production studies on their number two ( 2 ) concession, filed it’s mining plan and has received it’s exploitation permit for medium - volume river dredging operations to begin in the Cusco District of Echarate, Peru, South America.

“ Picchu Rio Gold ” has acquired four (4) of the twelve (12) concessions previously owned by Vista Continental Corporation. Mining prospects for these concessions were initially validated by the March 2002 summary report on placer deposits by Mr. A. David V. Heyl, an International Consulting Geologist in his own words, “The closest geologic comparisons” to the claims containing rare earths, zircon and strategic metals are “the veins and placer deposits of the Mother Lode belts of the California and Eastern Australia gold belts”.

“Picchu Rio Gold” performed its own verification studies in 2007-2009 including viability studies of micron gold capture systems at shallow depths of the sandbars. During the 3rd & 4th quarters of 2009, the company also completed testing new production line technology for the capture of micron gold and mineral embedded gold, precious metals and rare earths. The addition of the Clean Gold Filtration System and Gold Exorcist Dry Filtration System to the initial processing testing, has both increased the capture of micron gold and increased the capture of minerals embedded with the gold and precious metals, thereby potentially quadrupling the previously - calculated reserve sizes and the per cubit meter mineral recovery. “ Picchu Rio Gold ” is effecting shipping of equipment to include a 300/yd/hr dredge, process equipment and vehicles, in order to begin medium - production volumes in the 2nd quarter of 2010. Initial focus on returns will be through gold sales while stockpiling precious metals for near future separation and contract sales. High-volume production may be attained earlier than the third quarter projections, through JV bonding/ins.wrap.

History:

Prior to “ Picchu Rio Gold Mining Co. SAC “ acquiring four of the claims and interests of Vista Continental, roughly $7 million had been spent toward studies of the twelve (12) concessions/claims and operational preparations of a secured camp on 25 acres complete with heavy equipment, wash plant and dredge. Vista Continental suffered an internal collapse in 2004 and is no longer in operation, having forfeited it’s interests in Peru, Guyana and North America. The corporate ventures of a small group of Americans through their holding company Phoenix Minerals S.A.C., hold a controlling interest in “ Picchu Rio Gold ”. The combined mineral deposits of the Phoenix Minerals seven companies comprise approximately 80 kilometers of concessions in the river and terraces of the Cusco region of Peru, South America, spanning twenty-four (24 claims). These claims are held by the seven (7) companies referred to as the Phoenix Group of companies, of which “Picchu Rio Gold” owns four (4) of the 24 claims.

Future:

The Phoenix Group of companies’ eight (8) of the original Vista Continental twelve (12) claims consisting of approximately 48 kilometers, are an asset containing approximately 655,000,000 cubic meters of auriferous gravel with an estimated 7.5 to 15 million ounces of gold. Harvesting the rare earths, zirconium and gold at the rate of 12,000/cubic meters a day represents an estimated mine life of more than 150 years, divided by three companies of the “Phoenix Group” giving 50 years per company at 12,000/cm3/ day and 17 years at 36,000/cm3/day. Initial production by the end of the 2nd quarter is planned for Picchu Rio Gold Mining Co’s number 2 concession having an estimated 1 billion plus recoverable reserve in the river sand bars alone.

“We believe Picchu Rio Gold Mining Corporation S.A.C., a faith based private mining company, is going to be a major player in the expanding world market, capable of uninterrupted long-range delivery of Gold, Precious Metals and REEs at competitive prices. We can expect the capability to fund our operations and yield high stockholder profits for many years to come from the gold revenue alone. The easy access to our resources, strategic advantages of our planned refining and delivery systems, our lock on the higher technology separation methods and our strong environmental impact policy will, we believe, build shareholder value over the short term as the demand for gold & rare earths grows even stronger”, said Picchu Rio Gold Mining Corporation S.A.C. General Manager, Colin McKenzie. Phoenix Minerals S.A.C. www.riogoldmining.com

Phoenix Minerals S.A.C.
Colin McKenzie (GM)
(011) 511-715-8242
machupicchuriogold@yahoo.com

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