Dolat Ventures Announces Plans to Increase Production on Sewa River for Diamond Operations

Share: 

New York, NY --(www.USEquityNews.com)-- 04/23/2010 - Dolat Ventures Inc. (OTCBB: DOLV) announced today that its 75% owned subsidiary Millennium Mining is planning a full scale build out and intends to increase production at its location in the heart of the Sewa River.


"With Diamond prices increasing, we are moving forward in building out our operating capacity by purchasing more dredges and working more parts of the river processing more gravel," said Mr. Dovid Hauck, President of Dolat Ventures.
The Sewa River, located in the heart of Sierra Leone, is formed by the junction of the Bagbe and Bafi rivers. It flows 150 mi (240 km) to join the Waanje River and form the Kittam, which empties into the Atlantic Ocean. The country's most important commercial river, it has historically produced the bulk of Sierra Leone's diamond exports.

"We are very excited about this great start in our re-aligned development," added Mr. Hauck. "Sierra Leone is really at the start of a great commodity boom and we believe that Dolat Ventures and Millennium Mining will play a large role in the increased development in the mining sector."

Sierra Leone's diamond exports were valued at $98 million in 2008, according to the latest data published by the Kimberley Process (KP). The most recent official Sierra Leonean export figures valued shipments of diamonds, the country's main source of foreign currency, at $79 million for 2009.

For more information please visit www.dove-diamonds.com

About Dolat Ventures Inc. (OTCBB: DOLV)

Dolat Ventures Inc. through its wholly owned subsidiary Dove Diamonds & Mining and Millennium Mining LLC intends to mine, sell, market, cut and distribute its diamonds and gems around the world. The company intends to purchase rough and uncut diamonds and gems from international suppliers globally. Millennium Mining LLC incorporated in Sierra Leone as a Private Limited Liability Company on March 3, 2008 and commenced commercial operations after obtaining its license from the Ministry of Mineral Resources (Sierra Leone). The company's core operations are to mine extracted, refine, and purify precious metals and stones. The Company buys, sells, distributes and exports diamond bauxite, rutile gold, silver and all other precious minerals in Sierra Leone and internationally. The company entered into a mining agreement to dredge mine land in the towns of Gandorhun and Njala in the Tikonko Chiefdom, Bo district of Sierra Leone. This area is known as the Baimbawai Pool of the Sewa River.

Forward-Looking Statements

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.

These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

Contact Information:
Dovid Hauck
President
Phone: 212-502-6657
Email: info@dove-diamonds.com

U.S. Equity News
Tel: (949) 517-2426
Email: info@usequitynews.com

Comments:
Disclaimer: User Comments do not reflect the views of US Equity News, and we are not responsible for the content of users' comments. We also reserve the right to edit or delete comments to our discretion.

---