DALLAS, TX--(Marketwire -05/04/12)- Southridge Enterprises Inc. (SRGE.PK - News) ("Southridge" or the "Company") is pleased to announce that it has expanded its previously announced exploration program on February 13, 2012, to include the additional 80% unexplored portion of the known vein system at Cinco Minas.
Cinco Minas is a historical producing mine that has been the subject of substantial previous exploration and production. The mine currently has a mineral resource of 23.33 million oz. Ag, and 235,000 oz. Au. Previous exploration at Cinco Minas has only tested 20% of the known vein system, and the recently announced exploration program is designed now to explore the untested 80% portion of the known vein system. Southridge Minerals is committed to aggressively exploring the property, and expand the current mineral resource at Cinco Minas.
"We are focusing our efforts on a number of specific targets at Cinco Minas, previous reports on the property have identified several high potential targets of additional mineralized zones," says Southridge President & CEO Michael Davies. "The expanded program will look to evaluate key areas of these targets and collect the applicable samples for assay."
Additionally, Mathers Research has initiated research coverage of Southridge, with a "Speculative BUY" Opinion and a near term price target of $0.20 cents per share.
The Mathers Research report is available as a free download on the Mathers Research Website @ http://mathersresearch.com/srge-report
For further information on the Company's Gold and Silver projects, visit our website, http://www.southridgeminerals.com
Southridge Investors can access the following Southridge Minerals social media channels:
About Southridge Minerals, Inc. (SRGE.PK - News)
Southridge Minerals, Inc. is a U.S.-based mineral exploration company dedicated to acquiring and developing mineral resources in geologically permissible and politically stable areas of the world. The Company seeks out early stage opportunities with good mineralization indicators that exhibit significant blue-sky potential. Southridge pursues and advances these projects that are or will be of interest to mid-size and major producers. By forming alliances on individual projects, the Company expects to develop its interests in mines operated by its partners, allowing it to continue to build value through continued exploration. Southridge is currently focused on projects in Mexico.
What sets Southridge apart is its vast experience in Mexico and the knowledge of the geological conditions and formations pertaining to known large gold deposits that have received very little attention to date. This comparative advantage, combined with a specific geographical and mineral focus, will allow for more efficient asset and income growth in the future for the benefit of shareholders' investments.
Although the Company believes that the forward-looking statement of beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's published current and periodic reports.