Pearl Asian Mining Industries Announces the Arrival of its Inductively Coupled Plasma Spectrophotometer (ICP) Analytical Equipment at Project Cagayan de Oro (CDO).

PAIM Reaches Agreement And Working Alliance with Indigenous People & Muslim Tribes in Project CDO's Adjacent Villages to Supply Gold Concentrates/Ores and Other Precious Metals for PAIM's Gold-Buying Business Venture; Signs Contract to Start Development of its 21+ Acre Hawaiian Real Estate Property into an Eco-Tourism Resort; PAIM Final Audited Financial Statement According to USA GAAP Expected Completion On or Before the Last Week of January, 2007

MANILA, Philippines -- Pearl Asian Mining Industries, Inc., with Stock SYMBOLS: U.S.A. (OTC:PAIM); GERMANY (GER:R1Z) (FWB:R1Z) announces the arrival of its Inductively Coupled Plasma Spectrophotometer (ICP) purchased from Singapore, at Project Cagayan de Oro. "The Shimadzu Sequential Plasma Spectrophotometer Model ICPS-7510 is a high precision analytical equipment used for quantitative chemical analysis, so sensitive that it is capable of accurately detecting levels as low as one part per billion, equivalent to measuring a milligram per metric ton, which compares favorably to the usual mining industry practice of measuring precious metal content in grams per metric ton," stated Chief Metallurgist Elvis Hidalgo, President of Pearl Asian's Chemical/Metallurgical Lab Division.

The ICP will be installed shortly in the Cagayan de Oro Metallurgical/Chemical Laboratory and Refining Center to serve both PAIM's laboratory analytical requirements and serving outside clienteles, as well. Once installed, the first samples to be tested are the available 12 bars of gold to be purchased from the local miners near Project CDO in the coming weeks. "The ICP will allow PAIM to accurately and precisely determine the purity of its gold products without resorting to time-consuming and costly commercial laboratories," added Chief Metallurgist/Engineer Hidalgo.

Meanwhile, President/COO & CRO for Mindanao Operations Manolo Tecson has reached an agreement with the locals, the Indigenous Groups of people and several Muslim Tribes near Project CDO for the latter to sell gold and other precious metals to PAIM for its gold-buying venture. "This will supplement the gold being produced in our minesite, which will allow us to supply the commitment to and requirements of our buyer, WIET LLC," stated President for Mindanao Tecson.

Moreover, PAIM sealed an agreement with RJ Construction, LLC, a general contractor to develop its 21+ acres real estate property into an Eco-Tourism "Village" located in the Hawaiian Ranchos Estate, Big Island, Island of Hawaii. The said resort will be a veritable nature-lovers' mecca, complete with sports recreational facilities, golf course and other amenities comparable to the finest resorts in Asia. Its design will be patterned after the resorts on the world-renowned Philippine Islands of Boracay and Palawan. PAIM CEO Jason Piamonte states: "The PAIM Eco-Tourism Village will allow American nature-lovers, in particular, to experience an Asian paradise right within the USA. With construction to commence next month and completion in about 9 months, this venture is expected to contribute additional revenues for PAIM this year 2007."

Lastly, PAIM Internal Auditor Mabel Quinto and CFO Arnel Morilla are working diligently to deliver to Atty. Czarnik the final 2006 Financial Statements under USA GAAP certification with an estimated completion on or before the last week of January. "This will enable Atty. Czarnik, our Legal Counsel and DAD to finally submit our application to become a fully reporting company," exclaimed CEO Piamonte.

FORWARD STATEMENTS:

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.