Stansbury Holdings Corporation Reports on Garnet Operations

Apr 10, 2001, 01:00 ET from Stansbury Holdings Corporation

    DENVER, April 10 /PRNewswire/ -- Stansbury Holdings Corporation
 (OTC Bulletin Board:   STBY) reported today that its subsidiary, Sweetwater
 Garnet, Inc., has begun sales of garnet product, and is establishing a dealer
 network.  Sweetwater took delivery last week of new concentrating equipment,
 and plans to use such equipment to reopen its garnet mine next month.
     During the quarter ending March 31, 2001, Sweetwater Garnet, Inc.,
 commenced sales of industrial garnet abrasives, from its mill near Dillon,
 Montana.  The company's inventory of garnet products and garnet concentrate,
 of approximately 1000 tons, is sized and packaged for water filtration,
 abrasive blasting, and waterjet cutting market.
     In March, the company began to establish a network of distributors for its
 garnet products, and is introducing its website later this month from which
 customers can order product from either distributors or the company.  As
 distributors are added, the company expects the focus of its sales to be
 through the distributorships.  All shipments are from the company's finishing
 mill located six miles south of Dillon, Montana.
     In the week ending April 6, the company took delivery of new garnet
 concentrating equipment, which is now being outfitted for operation at its
 Sweetwater Garnet Mine located in Madison County, Montana, about 20 miles
 southeast of Dillon, Montana.  The mine has reserves of over 375,000 tons of
 recoverable product.
     Upon re-opening the Sweetwater Garnet mine this month, the company will
 establish year-round mining and concentrating operations.  The company is
 currently processing ore concentrates produced last fall.
     Demand for garnet industrial abrasives has shown steady improvement over
 the last several years, after doubling in the 1990-1997 period.  Currently,
 product for waterjet cutting is selling for 16 cents a lb ($320 ton) FOB mine
 in bulk shipments of truckloads or more, up from the $150-$200 ton range three
 years ago.  The United States relies heavily on imports to supplement domestic
 production, with India and Australia being the major foreign sources.
     The company expects to bring its annual rate of production to 20,000 tons
 per year by the end of the calendar year, or approximately 20-25% of US
 demand, although less than total imports to the US in 2000 (according to
 figures reported by the United States Geologic Survey, Mineral Commodities
 Summaries, January, 2001).
     Stansbury Holdings Corporation, the parent of Sweetwater Garnet, Inc., is
 a natural resource holding company, specializing in the industrial minerals of
 vermiculite and garnet.  The company owns two asbestos-free vermiculite
 deposits of over two square miles each, and a garnet deposit covering
 1300 acres.
 
     This press release contains forward-looking statements within the meaning
 of the Private Securities Litigation Reform Act of 1995.  The matters covered
 by such forward-looking statements are subject to known and unknown risks,
 uncertainties and other factors which may cause actual results, performance or
 achievements of Stansbury Holdings Corporation to differ materially from those
 contemplated or implied by such forward-looking statements.
 
     The Company's website is www.stansburyholdings.com, which contains links
 to its SEC filings, audited and unedited financial statements, and project
 descriptions.
 
                       For Further Information, Contact:
 
      Aldine J. Coffman, Jr., President           Brian McCarty
      8811 East Hampden Avenue #100               Investor Relations, Stansbury
      Denver, Colorado 80231                      Philadelphia, PA
      Telephone: 1-720-748-1407                   Telephone: 1-215-928-9630
      Facsimile: 1-720-748-1408                   Facsimile:1-215-928-0283
      e-mail: ajcoffman@stansburyholdings.com     e-mail:
                                                 bmccarty@stansburyholdings.com
 
 

SOURCE Stansbury Holdings Corporation
    DENVER, April 10 /PRNewswire/ -- Stansbury Holdings Corporation
 (OTC Bulletin Board:   STBY) reported today that its subsidiary, Sweetwater
 Garnet, Inc., has begun sales of garnet product, and is establishing a dealer
 network.  Sweetwater took delivery last week of new concentrating equipment,
 and plans to use such equipment to reopen its garnet mine next month.
     During the quarter ending March 31, 2001, Sweetwater Garnet, Inc.,
 commenced sales of industrial garnet abrasives, from its mill near Dillon,
 Montana.  The company's inventory of garnet products and garnet concentrate,
 of approximately 1000 tons, is sized and packaged for water filtration,
 abrasive blasting, and waterjet cutting market.
     In March, the company began to establish a network of distributors for its
 garnet products, and is introducing its website later this month from which
 customers can order product from either distributors or the company.  As
 distributors are added, the company expects the focus of its sales to be
 through the distributorships.  All shipments are from the company's finishing
 mill located six miles south of Dillon, Montana.
     In the week ending April 6, the company took delivery of new garnet
 concentrating equipment, which is now being outfitted for operation at its
 Sweetwater Garnet Mine located in Madison County, Montana, about 20 miles
 southeast of Dillon, Montana.  The mine has reserves of over 375,000 tons of
 recoverable product.
     Upon re-opening the Sweetwater Garnet mine this month, the company will
 establish year-round mining and concentrating operations.  The company is
 currently processing ore concentrates produced last fall.
     Demand for garnet industrial abrasives has shown steady improvement over
 the last several years, after doubling in the 1990-1997 period.  Currently,
 product for waterjet cutting is selling for 16 cents a lb ($320 ton) FOB mine
 in bulk shipments of truckloads or more, up from the $150-$200 ton range three
 years ago.  The United States relies heavily on imports to supplement domestic
 production, with India and Australia being the major foreign sources.
     The company expects to bring its annual rate of production to 20,000 tons
 per year by the end of the calendar year, or approximately 20-25% of US
 demand, although less than total imports to the US in 2000 (according to
 figures reported by the United States Geologic Survey, Mineral Commodities
 Summaries, January, 2001).
     Stansbury Holdings Corporation, the parent of Sweetwater Garnet, Inc., is
 a natural resource holding company, specializing in the industrial minerals of
 vermiculite and garnet.  The company owns two asbestos-free vermiculite
 deposits of over two square miles each, and a garnet deposit covering
 1300 acres.
 
     This press release contains forward-looking statements within the meaning
 of the Private Securities Litigation Reform Act of 1995.  The matters covered
 by such forward-looking statements are subject to known and unknown risks,
 uncertainties and other factors which may cause actual results, performance or
 achievements of Stansbury Holdings Corporation to differ materially from those
 contemplated or implied by such forward-looking statements.
 
     The Company's website is www.stansburyholdings.com, which contains links
 to its SEC filings, audited and unedited financial statements, and project
 descriptions.
 
                       For Further Information, Contact:
 
      Aldine J. Coffman, Jr., President           Brian McCarty
      8811 East Hampden Avenue #100               Investor Relations, Stansbury
      Denver, Colorado 80231                      Philadelphia, PA
      Telephone: 1-720-748-1407                   Telephone: 1-215-928-9630
      Facsimile: 1-720-748-1408                   Facsimile:1-215-928-0283
      e-mail: ajcoffman@stansburyholdings.com     e-mail:
                                                 bmccarty@stansburyholdings.com
 
 SOURCE  Stansbury Holdings Corporation