CHEYENNE, Wyo., June 11, 2008 (PRIME NEWSWIRE) -- Robert Slavik, President of Ariel Resources, Ltd. (Other OTC:ARLRF) announced today that the Company is moving forward with its plans to revitalize the Company. On a recent trip to Africa, several properties with artisanal gold production were examined with the intention of acquiring these properties although, to date, no property has been acquired. Ariel Resources, Ltd. was established to acquire and develop resource properties, having previously conducted mining operations in Costa Rica.
Additionally, the Board has filed documents with the NASDAQ Corporate Actions office in order to update the current trading symbol: ARLRF, to the more accurate ARLR. The symbol ARLRF denotes Ariel as a foreign entity; however, the Company moved its domicile to the State of Wyoming in 2002 and has been a fully American-based entity since that time.
Ariel is a Wyoming corporation currently reported on the Pink Sheets Gray Market. Management is undertaking the task of bringing all filings current in an attempt to return to a reporting and registered status. The Company's transfer agent, Computershare Trust Company, Inc. of Golden, Colorado reports that there are currently 13,662,472 fully diluted shares issued and outstanding of which a 2,000,000 share issuance is in dispute. Management is seeking resolution in the appropriate court.
For up to date corporate information about Ariel contact Mr. Slavik at: 404-514-4692; email: rts77@telus.net or see the website at www.arielresourcescorp.com
On Behalf of the Board, Robert Slavik, President
Forward-Looking Statements
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.