Austin, TX 11/2/2007 10:31:57 PM
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Platinum Energy Resources, Inc. (OTCBB: PGRI)
(November 1, 2007) - Platinum Energy Resources, Inc. (OTCBB: PGRI), announced today that its board of directors has established a plan in conformity with the provisions of Rules 10b5-1 to purchase up to 2,000,000 shares of Platinum Energy common stock in open market transactions during the month of November, subject to the broker, volume, price and timing restrictions of Rule 10b-18 under the Securities Exchange Act of 1934. The Company will finance the share repurchase program with available cash. This plan constitutes the initial stage of the repurchase program approved by the board in November 2006 to repurchase shares of common stock in an amount up to $80 million.
On October 26, 2007, the Company issued to Tandem Energy Corporation ("Tandem Energy") 7,692,308 shares of common stock as part of its acquisition of substantially all of the assets and liabilities of Tandem Energy. The board of directors had determined that the repurchase program was the best available use of the Company's cash to increase earnings per share following the dilution caused by the issuance of shares in the acquisition.
If all of the Platinum Energy shareholders requesting conversion of their shares in connection with the acquisition of Tandem Energy comply with the conversion procedures in a timely fashion, there will be 24,068,675 shares of Platinum Energy's common stock outstanding, including the shares of Platinum Energy common stock issued in connection with the acquisition. Tandem Energy will not participate in the share repurchase program. On October 31, 2007, Platinum Energy's common stock closed at $7.55.
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ABV Gold, Inc. (OTC: ABVG)
(Nov.1/07)--ABV Gold, Inc. (OTC: ABVG) is pleased to announce a shareholder conference call for November 16th, 2007 at 4:00 P.M. EST. The call in number is 641-715-3200 and the access code is 253096#.
"We will address a number of issues in this call including share retirement, board appointments and the filing of financials. We think that these three issues are key to moving our company to the next level," said Mr. Ryan, President of ABV Gold, Inc." The filing of financials will give shareholders more transparency in regards to our progress at the corporate level. Quality board appointments are necessary for the proper execution of our business plan at our mine in Russia. Lastly, the share retirement issue has taken longer than expected as certificate need to be pulled and returned to our office for cancellation. We have an outstanding buy sell agreement with the seller of the shares and they are halfway through the process of sending us the stock. Our funding arrangements are based on the retirement of stock and we intend to see the process to completion. The quiet period for our company is over. Shareholders will be very pleased with the updates during the call."
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Anglo Swiss Resources Inc. (OTCBB: ASWRF)
(Nov. 1, 2007) - Anglo Swiss Resources Inc. (OTCBB: ASWRF) is pleased to announce it has started a Phase 1 diamond drilling program at its wholly owned Kenville Gold Property, located near the city of Nelson, in south-eastern British Columbia.
The Company is exploring a large alkalic porphyry copper, gold, silver and molybdenum target previously identified by work programs in the 1990's conducted by Teck Exploration Ltd. Historical drilling by Teck in 1995 and 1996 yielded numerous zones of copper, silver, gold and molybdenum mineralization.
Full Force Drilling Ltd. began work on October 11th with the program targeted to drill approximately 1,500 metres (4,921 feet). The Company is planning a Phase 2 program of an additional 5,000+ metres (16,400 feet) upon evaluation of the Phase 1 drill program.
The 2007 drill program will test mineral zones along an indicated 1100 metre (3608 feet) north/south & 700 meter (2296 feet) east/west zone, containing strongly anomalous values in gold, silver, copper and molybdenum. This is based on Teck's work as well as recent technical work completed by Insight Geophysics on a strong geochemical anomaly on the west side of Eagle Creek.
The Company has received a report entitled "Report on the Interpretation of Induced Polarization Kenville Gold Project", Nelson, British Columbia, Canada, by Jeremy S. Brett, MSc., PGeo., MPH Consulting Ltd. The full report is available on the Company's website at www.anglo-swiss.com and on the Company's SEDAR site. The MPH report states the geophysical data is of excellent quality and includes maps with drill site locations and geochemical data.
The Induced Polarization geophysical survey was completed by Insight Geophysics in September of 2007. A total of 18.7 line-km (11.7 miles) of gradient and 5.9 line-km (3.7 miles) of high resolution Insight Section resistivity and chargeability data were collected, covering approximately 20% of the property. Chargeability and resistivity were effectively mapped to depths of approximately 400 meters (1312 feet).
Copper and molybdenum soil geochemical anomaly trends (with associated gold and silver) over 1100 meters (3608 feet) are coincident with north-south trending moderate chargeability highs, interpreted as copper/molybdenum targets, and north-south trending resistivity lows and highs, which are interpreted as possible alteration zones. All trends are interpreted as being open in all directions.
The property is located within the Eagle Creek diorite porphyry and is host to gold-bearing quartz veins and silica-potassic alteration zones, which typically host the copper +/- molybdenum mineralization.
The Kenville Gold Mine is one of the oldest and most prolific producers in the district, producing intermittently from 1890 to 1954, with the bulk of production from 1899 to 1912. Government records indicate that past production from 181,295 tons mined totaled:
- 2,029 kilograms of gold or 4,473 pounds;
- 861 kilograms of silver or 1,848 pounds;
- 23.5 tonnes of lead or 51,808 pounds;
- 15 tonnes of zinc or 33,069 pounds;
- 1.6 tonnes of copper or 3,527 pounds;
- 37 kilograms of cadmium or 81.5 pounds.
A previous drill program during 1995 and 1996, performed by Teck Exploration Ltd. (TeckCominco) on the porphyry target zone, intersected numerous anomalous to locally economic mineral values including:
- 1.03% copper (20.6 pounds per ton), 8.18 g/t silver (0.29 ounce per ton), 439 parts per million (ppm) molybdenum across 8.7 metres (28.5 feet) in drill hole TK-95-03;
- 0.70% copper (14 pounds per ton), 1.12 g/t gold (0.04 ounce per ton), 6.7 g/t silver (0.2 ounce per ton) across 4.2 metres (13.8 feet) in drill hole TK-95-02;
- 82.15 g/t gold (2.9 ounces ton), 34.1 g/ton silver (1.2 ounces per ton) across 0.25 metre (0.82 feet) in drill hole TK-95-05;
- 0.228% copper (4.5 pounds per ton) and 365 parts per billion gold across 7.6 metres (24.9 feet) in drill hole TK96-05.
The 1995-1996 Teck program consisted of 12 drill holes totaling 2,427 metres (7,962 feet). Generally strong alteration is present throughout the majority of the Teck drill holes, with locally strong concentrations of gold, copper, silver and molybdenum. The company believes that the results of past drilling programs, in combination with recent geochemical and geophysical programs, are indicative of a potential porphyry system of significant extent and grade.
The preceding excerpts from the 1995 and 1996 Teck reports on the work programs on the Kenville property predate the NI 43-101 standards and are historical in nature.
Greg Thomson, P.Geo., is the qualified person for Anglo Swiss Resources for the geology and drilling on the property and Jeremy S. Brett, P.Geo. of MPH Consulting Limited is the qualified person for the geophysical data.
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