Standard Gold Mines Plc has acquired 100% of Mining Finance Limited and its wholly owned operating subsidiary, Sao Pedro Mines (U.K.) Limited including its 25 year mining concession, licenses and business. It holds the mining rights to a 600 hectare ‘open pit’ gold mine, San Pedro Mineracao LTDA, located in Paracatu, Minas Gerais, in Brazil.

Standard Gold Mines chief Mr. Thele President said that as a result of the firm’s activity with Mining Finance Limited, its venture associate and financier, Standard Gold Mines has successfully purchased the Sao Pedro Mineracao LTDA gold mine.

This purchase is the second in a series of contemplated acquisitions of precious metal mining properties by the company which is consistent with its corporate mandate to aggregate commercially viable mining assets globally.

On July 15, 2010 in Sao Paulo, a Statement Update and Confirmation Report of Sao Pedro Mineracao LTDA was prepared and executed which placed a Legal Asset Description of the then prevailing market value of the mine containing an estimated gold reserve of 300,000 kilos or 10.56 million oz. at approximately $12.8 Billion .

Due to the report, the Brazilian government approved exploration of the ore body which now has a current market valuation of approximately $15 billion.

According to Mr Thele, with the purchase of the Sao Pedro Mineracao LTDA mine, Standard Gold Mines Plc is now positioned to access the international capital markets in order to float a bond offering of up to $100 million to finance current production requirements of its Annabelle mine located in Nevada, USA., Sao Pedro Mineracao LTDA mine, located in Minas Gerais, Brazil and other possible acquisitions.

The company is currently in negotiations with a major German bank and other institutions in an effort to syndicate the bond offering as soon as possible.

Standard Gold Mines Plc has a mandate to aggregate precious metal mining properties into a portfolio of profitable and commercially viable business assets. The properties sought are both current-producing and former-producing mines, located in economically favorable and politically stable jurisdictions, with existing attractive mining codes. As a result, funding procurement from capital markets will be focused on precious metals production.

Standard Gold Mines seeks to generate shareholder value via corporate profits created through the acquisition, development, and early production of precious metals mining projects.