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


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:

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.

PHI Mining Group, Inc.

Frank Pham,                714-843-5461

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