MIAMI, June 13, 2011 /PRNewswire/ -- Ensurge, Inc. (OTC Bulletin Board: [ ESGI ]) announces an Agreement with Correia Mining Company of Guyana under which Ensurge, and its Partner, GlobalMin Guyana, Inc., will process tailings at currently operating and abandoned mining sites owned by Correia with the intention of recovering gold, platinum, palladium silver and potentially precious stones. A detailed Operating Agreement between Ensurge and Correai will be developed shortly.

Under terms of the Agreement, Ensurge, acting on behalf of itself and GlobalMin Guyana, will design, construct and operate tailings processing facilities at Correia mines located along the Mazaruni River, a well-known source of alluvial gold. The first of these facilities will be located at Putareng and upon establishing successful operations there, a second facility will be constructed at Olive Creek, approximately 10 miles downriver. In exchange for granting Ensurge and GlobalMin access to tailings at its mining sites and providing logistical support and assistance with regulatory matters, Correia will earn a 14% royalty on the value of precious metals and stones recovered and sold from those mining sites.

Ensurge will need to raise additional capital to fund the construction and tailings processing facilities for this project.

Privately owned Correia Mining Company was established in 1935 and is a major presence in Guyana's gold and diamond mining industry, operating numerous mines. Correia Mining is part of the Correia Group of Companies that operates gold and diamond mines, a land based transportation business (buses), an airline (Trans Guyana Airways), an international aircraft maintenance business and a fuel distribution business, all in Guyana.

Ensurge, Inc. is developing facilities in Brazil, Guyana and elsewhere to recover gold from tailings left behind at abandoned and currently operating mines.

For additional information please refer to the Ensurge, Inc. website: [ www.ensurgegold.com ] or contact Paul Henning of Cameron Associates (212) 245-8800.

Forward Looking Statements

This press release contains forward-looking statements regarding the future results and performance of Ensurge, Inc. including statements regarding revenue, growth and market development. These forward-looking statements involve risks and uncertainties and actual results could differ materially from those predicted in any such forward-looking statements. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements. The realization of any or all of these expectations is subject to a number of risks and uncertainties and it is possible that the assumptions made by management may not materialize. Statements in this press release may involve risks and uncertainties; actual results may differ from the forward-looking statements. Sentences or phrases that use such words as "believes," "anticipates," "plans," "may," "hopes," "can," "will," "expects," "is designed to," "with the intent," "potential" and others indicate forward-looking statements, but their absence does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly release any revisions to forward-looking statement.

SOURCE Ensurge, Inc.

[ Back to top ]

RELATED LINKS
[ http://www.ensurgegold.com ]

Contributing Sources

Market Wire

N@N

Ensurge Announces Agreement With Correia Mining Company of Guyana

Ensurge Announces Agreement With Correia Mining Company of Guyana