All Grade Mining a development-stage company focused on the extraction of iron ore announce that the company is in the final stage of engineering design for the mining operations of its Salitrosa Iron mine.

The Salitrosa mine is located 28 kilometres from Chanaral and 60 kilometres from the Caldera port. It comprises of an updated 1,000 hectares spanning 24 square kilometers with an estimated iron ore reserve of over 40 million tonnes based on magnometric and geological studies done on the property.

Mr Gary Kouletas CEO of All Grade Mining said "We expect to complete the engineering design within the next two weeks and file our engineering plans and environmental impact study by the end of the month, paving the way for us to start production on the site. The necessary professionals required to do the site planning, excavation engineering, material sampling, concentration methodology, environmental impact declaration and logistics have been hired by Foreign Commerce who acts as the General Contractor for the project."

He said that "The Company expects to commence site preparation in August of 2012 and bring our production up to 150,000 tonnes monthly by mid 2013. Based on today market price of USD 141 per metric ton CFR, we expect to see significant cash flow from operations in the near future, allowing us to expand our operations in Chile."