VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 09/20/12 — International Energy & Mineral Resources Investment (Hong Kong) Company Limited („HK CO“), the largest shareholder of Mosquito Consolidated Gold Mines Limited („Mosquito“), refers to Mosquito-s news release of September 13, 2012 (the „September 13 news release“) pursuant to which Mosquito has advised that an independent review of Mosquito-s CuMo project mineral resource estimates has led to the detection of an error in the previous calculations of the mineral resource estimate, which calculations were contained in a Preliminary Economic Assessment dated November 18, 2009 (the „PEA“) prepared by Ausenco Canada Inc. for the CuMo Project as well as in a technical report dated June 14, 2012 and titled Resource Estimate Update 2011 prepared by Snowden Mining Industry Consultants (the „Snowden Report“ and collectively with the PEA and previous independent technical reports containing mineral resource estimates prepared in connection with the CuMo Project, the „Prior Technical Reports“). We note that qualified persons of independent geological and engineering firms have each certified in the Prior Technical Reports that they are responsible for their respective reports, including the calculation of the mineral resource estimates contained therein.
Given the seriousness of these allegations, HK CO believes all affected parties should urge Mosquito to engage a recognized independent geological consulting firm to conduct an objective review of the calculation of the mineral resource estimates.
HK CO notes the following:
Yours truly,
Hongxue Fu, Chairman, International Energy & Mineral Resources Investment (Hong Kong) Company Limited
Contacts: International Energy & Mineral Resources Investment (Hong Kong) Company Limited Long Wang 604-642-6199
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