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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."