SILA.OB, Golden Agreement with a European Institutional Investment Group; Golden Potential!

July 30, 2010 - PRLog -- Gold American Mining Corp. (OTC.BB:SILA) has entered into a $7.5 million equity financing agreement with a European institutional investment group that specializes in backing precious metals and mining ventures. SILA has received funds in the amount of $300,000 in virtue of this agreement and that they still have a balance of $7.2 million that could call upon to fund their exploration and acquisition strategy. During 2010, the company have received total equity subscription proceeds of $500,000.

Johannes Petersen, President of Gold American, stated "During the first half of this year, Gold American has raised $500,000 in equity financing without incurring any debt. These funds have helped the Company fuel its FY2010 exploration program and added to its working capital. With the existing equity agreement in place, the Company is well-positioned to take advantage of improved global financial and commodity market conditions."

Previously, SILA announced that its geophysics plan has been completed at the Guadalupe property in Mexico. SILA has completed the magnetic and induced polarization surveys on 20.5 kilometers of the property. The company is very optimistic about the completion of its geophysics program and hopes to get the final plans and results of the sampling by the beginning of August, 2010.

SILA already has two properties, one called the Keeno Strike Property in Nevada and the other known as the Guadalupe Property in Mexico.

This is a great news for Gold American as it focuses on aggressive acquisitions and explorations of properties rich in gold and silver production. Gold American already raised $500,000 in equity financing in the first half of 2010 without incurring any debt. Gold Americans future seems colored in gold. we will be keeping an eye on this company for a bright gold future.

More about SILA at: www.gold-american.com

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