Message #22 From:
NewsBot Date: October 3, 2007 08:34:25 AM
Asian Dragon Group Wins Negotiations for Final Major China Silver/Lead Project, ''Luoning Xiayu Xiaowagou Mine'', Making Asian Dragon Dominant Player in Region
Asian Dragon Group Inc., (OTCBB:AADG) (Frankfurt:P2J1) (WKN:A0KE7Z) today announced its successful negotiations in the acquisition of a 70% interest of the China Xiaowagou (“XWG”) Mine, through its partner, Fuding Mining Development Limited, a China Base Metal Development Company. This property, eagerly sought after by major international and local metals players, consists of a Silver-Lead Property, holding a current 2.13 km2 Exploration Permit.
The XWG Property is located in the area of Xiayu and adjacent to the TSX listed Silvercorp Metals Inc.’s Ying Silver Project, within 3 km of their world class HPG Silver-Lead Mine and 6 km southwest of the SGX Silver-Lead Mine.
President and Chairman John Karlsson commented on the successful negotiation, “This deal solidifies Asian Dragon’s position as a world class player in the global precious metals market. We anticipate significant results to stem from further development of this key acquisition.”
This deal follows Asian Dragon’s business model of “High Value” property acquisitions enabling Asian Dragon to continue its property gain while generating significant asset value per share for investors.
The Xiayu region of Luoning County in the Henan Province of China exhibits prolific Silver-Lead mineralization that is comparable to the mineral deposit types similar to the mesothermal veins of the Coeur d’Alene District in Idaho, U.S.A., where more than 1 billion ounces of silver have been mined in the past 120 years.
Asian Dragon was established to focus on China’s explosive precious and base metals reserves and markets and to become one of China’s largest foreign metals producers through a series of joint ventures and mine and property acquisitions.
Long standing relationships with the Gold Bureau and other Chinese Partners have provided Asian Dragon with the exclusive opportunity to commence due-diligence on several advanced Chinese Mining Projects in one of the Country’s most well known and prolific mineral production regions, the Xiaoqinling Region.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Asian Dragon Group Inc. Investor Relations: Max Sioson, 604-338-6281
