Southridge Enterprises Inc. is evaluating strategic alternatives for Cinco Minas property including the exploration of a joint venture, complete sale or other transaction. Southridge and its advisors are currently evaluating alternatives and are in advanced discussions with two major NYSE listed metal producers regarding the property. One of the firms has already signed preliminary documents for the full acquisition of the Cinco Minas property.

Southridge expects to complete the process within approximately 4 weeks. Michael Davies, Chief Executive Officer of Southridge, said, "Southridge is implementing a plan to fundamentally position itself for further growth in an emerging gold and silver market. By forming ventures on individual projects, the company expects to grow and maintain an interest in gold and silver mines operated by its partners allowing it to continue to build value through continued exploration.

We believe that the exploration of alternatives for the Cinco Minas property will help the company accomplish its strategic goals with additional profitable growth and enhanced shareholder value."