Oxford, MS 4/1/2011 (Penny PayDay) -- Sungro Minerals, Inc. (OTC:SUGO) recently announced, in a press release, the addition of 217 new unpatented claims to be associated with the current 331 claims at its Conglomerate Mesa Project. This brings the total unpatented claims on the project to 548. As I write, shares of Sungro Minerals were down 4 percent at $0.048 per share on volume of 66,100 shares compared to its average daily volume of 508,000 shares. The company has a market cap of $3 million and a 52-week range between $0.01 and $0.59 per share."Sungro retained North American Exploration, Inc. to complete the site work and claim staking effort to expand the area covered by our Conglomerate Mesa Project," stated Mr. Pucillo, CEO. "In our previously released NI43-101 Report (the 'Moore Report'), Mr. Moore recommended several important objectives connected with our future development of the property," continued Mr. Pucillo. "Aside from the exploratory drilling and upgrading of the identified gold zones to a more proven status that he recommends, we believe it to be extremely important that we secure additional areas adjacent to our current claims so that when development and production begins we are able to better manage the process within a fully contiguous area. It also makes sense to us that given the potential of the claims we already had, that we expand those areas in anticipation of increasing the value to our shareholders," he concluded.
Sungro Minerals, Inc. is an early stage Mining and Exploration Company seeking to acquire, develop, and manage various mineral properties and resources.
According to the press release, North American Exploration, Inc. (NAE) was established in 1964 to provide contract services for the mining industry. Since that time, NAE has been a part of many mineral exploration and mine development projects throughout the United States. "NAE" employs a staff of more than 20 qualified geological and geotechnical personnel to provide exploration and mine development services. The accurate collection of field data is critical for the successful evaluation and development of mineral properties.
For more information, please visit: www.sungrominerals.com.
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