Piedmont Mining Signs Agreement On Nevada Silver/Gold Property.

RENO, Nev. -- Piedmont Mining Company, Inc. (PIED) has signed a ten-year lease agreement with an option to purchase the Antelope Ridge Silver/Gold Property near Eureka, Nevada. This property consists of 50 unpatented claims in the southern part of the Battle Mountain-Eureka Trend, on the East flank

As previously reported, the first round of sampling over the mineralized zone on the property included 79 samples of jasperoid and siliceous wall rocks discontinuously exposed over about three quarters of a mile of strike length. Assays of these 79 samples averaged almost 6 ounces of silver per ton. The Devonian limestone host rock dips gently toward the pediment, so only a small part of the stratigraphy is exposed. Recently, a subtly exposed, bleached, silicified and pyritized zone was recognized on the edge of the pediment to the east and southeast, where the gold-to-silver ratio increases significantly. Exploration targets here include high-grade veins and 'manto' type silver-zinc orebodies in limestone, as well as Archimedes-like gold orebodies related to a major northeast trending fault system in the pediment. Exploration is scheduled to commence in mid-June with a program of detailed geologic mapping and sampling, as well as biogeochemical traverses across the pediment. A drilling program will then be designed based on the results of these investigations.

Piedmont has paid $10,000 in cash and issued 100,000 shares of its restricted Common Stock to the property owners on signing the agreement. In addition, the property owners have been reimbursed for $4,406 of claims-related costs that are creditable against the 1st year's work commitment of $20,000. The work commitment is $100,000 in both the second and the third years, and annual lease payments increase to $20,000 in cash and $20,000 of Piedmont's restricted Common Stock in the third year and in each year thereafter, until either exercise of the purchase option or termination of the agreement. All lease payments are creditable against the purchase option price of $1,000,000 that expires in 2015. The lease also provides for a 3% NSR royalty payable to the property owners, of which 2 percentage points may be bought down prior to the commencement of production from the property.

Piedmont is a development stage company with minimal revenues, limited assets, and an $11.5 million tax-loss carryforward. Its Common Stock is traded in the US electronic pink sheets under the symbol PIED. The Company has 37,252,646 shares of Common Stock outstanding.

Certain statements contained herein are forward-looking statements and accordingly involve risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events of performance, and underlying assumptions and other statements that are other than statements of historic facts. The forward-looking statements contained herein are based on various assumptions including, but not limited to, an assumption that the Company will be able to raise sufficient capital to execute on its business plan. The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections will be achieved or accomplished.

Piedmont Mining Company, Inc. Reno, Nevada