PHI Mining Group Acquires Indochina Mining Corporation

  
    
  
  
    
      PHI Mining Group, Inc. (Pink Sheets: PHIG), a company focused on mining 
      opportunities in Southeast Asia, today announced that the company has 
      acquired all the issued and outstanding stock of Indochina Mining 
      Corporation, a Nevada corporation, in exchange for 11.2 million shares 
      of newly issued common stock of PHIG.
    
    
      Following the acquisition, Indochina Mining Corporation (IMC) now 
      becomes a wholly-owned subsidiary of PHI Mining Group. Besides a joint 
      venture agreement with Phu Yen Mineral Joint Stock Company to explore 
      diatomite deposits in central Vietnam, IMC is in the process of working 
      with other joint venture partners to engage in mining opportunities in 
      Vietnam, Cambodia and Thailand.
    
    
      IMC will handle all PHI Mining’s operations in Southeast Asia and 
      anticipates reaching significant agreements with several joint venture 
      partners in this region in the near future.
    
    
      PHI Mining Group President Frank Pham commented: “We are very pleased 
      about this transaction and confident that Indochina Mining Corp is 
      well-positioned to capitalize on the imminent opportunities we have 
      identified in Vietnam, Cambodia and Thailand.”
    
    
      About PHI Mining Group, Inc.
    
    
      PHI Mining Group (PHIG) is a U.S.-based mining and exploration 
      enterprise focused on acquiring and developing industrial mineral 
      properties. The company is in the process of negotiating to acquire 
      interests in diatomite, lead, copper and granite properties in South 
      East Asia and South America. PHI Mining Group (PMG) is committed to high 
      standards in the areas of environmental management and health and safety 
      for its employees and neighboring communities.
    
    
      Web site: www.phimining.com.
    
    
      Safe Harbor: This news release contains forward-looking statements 
      that are subject to certain risks and uncertainties that may cause 
      actual results to differ materially from those projected on the basis of 
      such forward-looking statements. Such forward-looking statements are 
      made based upon management's beliefs, as well as assumptions made by, 
      and information currently available to, management pursuant to the 
      "safe-harbor" provisions of the Private Securities Litigation Reform Act 
      of 1995.