Monkey Rock Group, Inc. (MKRO) Receives LOI for up to US$2M in Financing

YUMA, Ariz., Feb. 24, 2012 /PRNewswire/ -- Monkey Rock Group, Inc. (OTCBB:MKRO) announced today that it has received a  Letter of Intent for up to $2 Million in investment capital from CRJ Real Estate and Investment Group, LLC. (CRJ).  The financing is slated to be used for the purchase of mining equipment and working capital for the company.

The LOI is non-binding and the loan remains subject to additional diligence and underwriting. CRJ has up to 60 days to complete the transaction. Upon successful completion of the due diligence, and closing of the loan, CRJ will receive an equity interest in the company of 20,000,000 shares along with a One Percent (1%) share of the Monthly Gross Revenues of the mine for the duration of the project. The issuance of the LOI is the first step in the company's financing structure for the development of the Los Flores Mine.

Dexter Aspacio, President and CEO, stated, "We look forward to completing this transaction, to provide a path for future liquidity for our current shareholders, and to increase overall value to our shareholders. Assuming the transaction contemplated by the LOI is consummated, we intend to use the financing proceeds for the acquisition of equipment needed to begin mining operations at our Los Flores Mine along with working capital to grow our business."

About the Company

The Company has the mining rights for the Los Flores Mine, in Yuma, Arizona and is in the initial stages of mining the site, having received an independent GEO Report from Mr. Craig L. Parkinson of West Coast Environmental & Engineering.  According to the report the average gold grade of all samples is estimated at .246 ounce per ton with the average gold grade of all high grade samples being .312 ounce per ton. The geological report and valuation make conservative estimates taking 1/10 of the high grade average to calculate and estimate a conservative gold grade of .0312 ounce per ton. The estimated tonnage of minable ore is calculated at 58,500,000 tons with estimated In-Place Gross Values of approximately 1,800,000 ounces of gold. The Los Flores Mine is located 15 miles northeast of the city of Yuma, Arizona.

For additional information on the mine along with the certified geological reports, surveys and all other documentation pertaining to the mine and its operations please visit our website at www.nissimining.com 

CONTACT:

Dexter Aspacio

Monkey Rock Group Inc.

[phone]

www.nissimining.com

[e-mail]

SOURCE Monkey Rock Group, Inc.

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