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Newsroom - Clients - SDRG
The following news and investment research items reflect some of the recent business activity for selected clients of Empire Relations Group, Inc. Additional information for investment research can be found in the featured clients section. News and investment research are for informational purposes only.
Silver Dragon Resources Inc
Silver Dragon Resources Inc. Pours First Silver Bar at the Erbahuo Silver Mine, China
BEIJING--(MARKET WIRE)--Nov 21, 2006 -- Silver Dragon Resources Inc. (OTC BB:SDRG.OB - News) is pleased to announce that Sanhe-Sino-Top Resources & Technologies Co., Ltd. ("Sino-Top") has poured the first silver dore bar of approximately 4.2 kilogram (135 ounces) at the Erbahuo Silver Mine at the Erbahuo Silver Project, China. This major milestone is part of the ongoing developments and improvements being made at the mine. The bar contains 99.95% Silver. The Company has a 60% ownership interest in Sino-Top.
Management has agreed that producing silver dore bars, as opposed to producing precipitates, would allow the Company to store the bars for future sales should silver prices increase. Additional bars are being poured. Custom made molds are being created with Silver Dragon's logo embossed for identification. Photos of this milestone event are posted on the Company's web site.
In addition, tunneling work continues during the winter exploration season after completion of the fall drilling program, in order to define a NI 43-101 compliant reserve/resource at the Erbahuo Silver Mine. It is anticipated that a NI 43-101 report will be completed within two months in order to support the Chinese standard 122b of mineable reserve that already exists. Registrations for various permits and licenses required for full scale production at the Erbahuo Silver Mine have been completed and a 500 ton per day capacity processing plant has been approved.
"We are retaining a well recognized international engineering firm to design and manage the construction of a 500 ton per day capacity mill and processing facility at the Erbahuo Silver Mine with the intention of commencing full scale production in 2007," said Marc Hazout, President and CEO of Silver Dragon. "This is the first phase in the development and monetization of our exploration and mining rights in nine properties covering over 260 square kilometers in the prolific Erbahuo Silver District where adjacent to our properties two of the largest silver mines in China, the Bairen Daba and the Dajing silver mines are found."
Silver Dragon Resources Inc. is a mining and metal company focused on the exploration, acquisition, development and operation of silver mines in proven silver districts globally. Silver Dragon's objective is to acquire silver mining assets that contain promising exploration targets, have highly leveraged, out-of-the-money silver deposits, and/or are producing properties with significant untapped exploration potential. It is management's objective to grow Silver Dragon into a significant silver producer by developing the Cerro las Minitas and the Erbahuo projects in Mexico and China. For more information, please visit the Company's website at: www.silverdragonresources.com (now available in Chinese).
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.
Silver Dragon Resources Inc.
Marc Hazout
(416) 661-4989
info@silverdragonresources.com
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About Silver Dragon Resources Inc.
Based in Canada and publicly traded on the OTCBB, we are focused
on the exploration, acquisition, development and the operation of
silver mines throughout the world. The properties are located in
proven silver districts of Mexico and China.
To link to this corporate profile in our members area click here (You must be a registered member to see profile).
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