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Hidalgo Mining (HMIT) Negotiates Coal Contract with the Federal Electric Commission. Proposed Contract to Generate 20-30K Tons in Coal Purchases Equaling $11-16.5M In Additional Monthly Revenues.

NEW YORK -- Hidalgo Mining International (PINK SHEETS: HMIT - News), an innovative coal mining company headquartered in New York with coal properties located in Northern Mexico, announced today that it has retained Callado & Associates, a Law Firm in Mexico City, to represent HMIT in direct negotiations with the Federal Electric Commission (FEC) for purposes of entering into a coal purchasing contract to vend coal to both of its Northern Mexico power plants. Estimated figures from the proposed contract will equal 20-30K tons of coal purchases resulting in $16.5M in possible monthly revenues.

Concluding a contract with the FEC will provide HMIT with its second large-scale contract since its introduction of mining to the general public. Callado & Associates will provide legal counsel and further guidance in the overall attempted closure of the aforementioned contract and will remain on retainer to continually provide its counsel for future contracts and legal matters.

Distribution to the Northern Mexico power plants under the control of the FEC will provide logistical simplicity as they are located within close proximity from the Hidalgo mining site. Additionally, local Mexican rail lines will provide easy access and expedited delivery resulting in lowered expense of transportation and increased profit margins for overall coal transactions between HMIT and FECOM.

"Entering into negotiations with the Federal Electric Commission is not only a tremendous landmark within our sales program, but more importantly an honor as very few organizations are able to label themselves as potential business associates of a commission of its caliber. Retaining Callado & Associates was the most beneficial choice in seeking legal counsel for this particular negotiation as well as to provide ongoing representation for all upcoming contracts and legal matters. We will provide updates to our shareholders as to the progress of the proposed contracts as the upcoming events take place, stated Jeff Bootes, CEO of Hidalgo Mining International.


Hidalgo Mining International (Pink Sheets: HMIT), an innovative coal mining company located in New York, NY, currently possesses over 50,000 acres of coal populated land located in Northern Mexico near the Texas border. Within an existing multi-billion dollar industry, HMIT strives to maintain corporate creditability while making aggressive moves to continue marketing its coal production on a global scale. HMIT management and directors hold an abundance of experience and knowledge in this rapidly growing industry that will ultimately result in the success of its ventures and longevity. Learn more about HMIT by visiting: (



This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. These expectations and assumptions are subject to risks and uncertainty, which could affect Hidalgo Mining Internationals' future plans. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Hidalgo Mining International to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks detailed in Hidalgo Mining Internationals' periodic report filings with the Securities and Exchange Commission. Hidalgo Mining International undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in Hidalgo Mining Internationals' expectations.
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Publication:Business Wire
Date:Jun 1, 2007
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