Pearl Asian Mining Issues Progress Report on Transfer Agent's Processing Relating to Corporate Actions

Pearl Asian Mining Industries, Inc., Stock Symbols: USA (OTC Common Shares: PAIM); (OTC Preferred Shares: PAIIP); Germany (Xeta: R1z.De) and (Frankfurt: R1z.F) today announced that as of November 9, 2007, the company’s transfer agent has completed processing all certificates and payments relative to all documents submitted by shareholders and holders of debentures concerning the 95% Buy Back of the company’s Common Shares, the mandatory recall of the Convertible Debentures and the 1 for 7,000,000 reverse split of all Preferred Shares. Individuals having submitted materials but not having received reissued certificates and/or payment from the transfer agent by Friday, November 16, should contact the following: AGN Associates, LLC 5431 Auburn Blvd. - #178 Sacramento, CA 95841 916-760-7712, fax 916-313-8828 Email - agnassociates@yahoo.com In other developments, Randolf Villanueva, the Pearl Asian’s president and CEO in the Philippines, is spearheading the effort to procure the MPSA (Mineral Production Sharing Agreement) and the renewal of the current SSMP (Small Scale Mining Permit), due to be renewed by November 22, 2007. The SSMP renewal and the passage of a municipal resolution -- essentially municipal permission to proceed with the mining project -- requires that the company obtain an approved environmental certificate (ECC), which is expected within the next week to 10 days. "Once we have obtained the renewal of our SSMP, we will concentrate our efforts on obtaining the MPSA (Mineral Production Sharing Agreement). We remain enthusiastic about the role we foresee for the company in changing the face and the economics of mining in the Philippines,” said Exec. President Villaneuva. ABOUT THE COMPANY Pearl Asian Mining Industries, Inc. is an international mining company engaged in the exploration and commercialization of new and underdeveloped mine sites, primarily Gold and other precious and strategic metals. The company currently owns 12 mining claims in British Columbia, Canada. Additionally, under a Philippines Mineral Production Sharing Agreement (MPS) with the government of the Republic of the Philippines, the company, through aggregation of manpower and production among small-scale miners and indigenous peoples, intends to capitalize on economies of scale in gold and silver extraction, processing and commodities selling and trading. Pearl Asian Mining is committed to the implementation of sustainable green technologies to achieve fiscal strength based on the principle of Profit-People-Planet. Management continues to focus on achieving profit, while conducting business with utmost consideration and compassion for people and protection of our planet and the environment. FORWARD STATEMENTS: Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.