MURPHY, ID--(Marketwire - March 11, 2010) - Silver Falcon Mining, Inc's. (OTCBB: SFMI) and GoldCorp Holdings Co.'s (OTCBB: GHDC) Board of Directors jointly met to discuss SFMI's 100% owned Diamond Creek Mill facility and its pending opening. The Directors passed a motion which modified the lease between SFMI and GHDC. SFMI will not begin making its mine lease payments until July 1, 2010; no other modalities of the agreement had been modified. These new terms were carried by motions of both Companies' Directors unanimously.
Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc. said, "GHDC recognized and readjusted time lines laid out in the GHDC/SFMI mining lease agreement which did not quite match the realities of the positive on-goings at SFMI. The Directors took remedial action to adjust payment timing terms which should protect the value to SFMI's shareholders."
The Directors of both entities agreed to meet again prior to July 1, 2010, and if needed, GHDC would evaluate further adjustments to assure and support SFMI's on-going successes.
War Eagle Mountain is a Gold and Silver rich property, whereas Silver Falcon Mining, Inc. (OTCBB: SFMI) has the developmental and operating rights to (17) deep-shaft mines owned by GoldCorp Holdings Co. (OTCBB: GHDC) covering the Mountain's primary epithermal Gold and Silver-producing veins under a 16-year contract ending in 2023.
Silver Falcon Mining, Inc., is an exploration and development Company specializing in high-grade Gold and Silver mining properties in North America.
Further Information contact Rich Kaiser, Investor Relations 800-631-8127, www.silverfalconmining.com.
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.