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Dolat Ventures to Focus on West Africa Mining

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  Published in Stocks and Investing on Monday, November 23rd 2009 at 14:04 GMT by Market Wire
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NEW YORK, NY--(Marketwire - November 23, 2009) - Dolat Ventures Inc. (OTCBB: [ DOLV ]) announced today that its soon to be acquisition Dove Diamonds & Mining, which intends to sell, market, distribute diamonds, minerals and precious gems in the United States and internationally, may seek to focus on potential mining operations in West Africa's Sierra Leone.

Ahead of the Sierra Leone Trade and Investment Forum in London on November 18th, George Soros released the following statement. "After meeting President Ernest Koroma and other members of the government during my first visit to Freetown in 2007, I came away convinced that Sierra Leone's new government was serious about moving the country forward. "Each subsequent meeting has made me more confident that, despite many challenges, Sierra Leone has significant, unrealized potential and is open for business and investment. "If you look carefully at the real Sierra Leone, it is clear that the country has the genuine potential to become a leading African economy. Opportunities do exist. "The foundations for a prosperous future are being laid in Sierra Leone right now. There is significant opportunity for high future returns on investment. "Investing in and strengthening the economy in Sierra Leone and its neighboring countries is crucial for building open societies in West Africa."

"We agree entirely with Mr. Soros' comments regarding Sierra Leone," said Mr. Dovid Hauck, Chief Executive Officer of Dove Diamonds & Mining Inc. "Sierra Leone also recently announced an increase in royalty rates to 6.5 percent on diamonds from 5 percent and to 5 percent on gold and other precious metals from 4 percent. We also intend to spend more than the stated 0.1 percent of annual gross revenues on community initiatives," he added.

To help reach these goals, the Soros Economic Development Fund is making significant commitments to promoting economic development and the growth of an open society in Sierra Leone. Sierra Leone is a stable state where good governance has taken hold. The Soros Economic Development Fund will maintain an interest in Sierra Leone for years to come. This is all accompanied by strong efforts to fight corruption and increase transparency, economic growth and diversification should improve the lives of millions of Sierra Leone's people.

About Dolat Ventures Inc. (OTCBB: [ DOLV ])

Dolat Ventures Inc. intends to acquire 100% of the outstanding capital stock of Dove Diamonds & Mining, Inc. Dove Diamonds & Mining intends to sell, market, cut and distribute its diamonds and gems around the world. The transaction is expected to close in November 2009. The company intends to purchase rough and uncut diamonds and gems from international suppliers globally.

For more information please visit [ www.dove-diamonds.com ]

Forward-Looking Statements

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward-Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.

These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.