Shenzhen, China (PRWEB) January 07, 2014
China Shouguan Mining Corporation (OTCQB: CHSO) is expanding mine operations into the gold rich HeiLongJiang Province in Northeast China. The Company’s portfolio of long-lived assets will now include gold, silver, copper, lead, zinc and molybdenum.
The gold mine operations agreement signed with the Province’s DaXingAnLing Government (DXL) in November 2013 involves broad cooperation with Guolin Investment Company, DXL’s subsidiary. Guolin is highly experienced in gold and mining operations and presents a strong partner for China Shouguan. Under the terms of the Agreement, China Shouguan will utilize its advanced techniques and conduct exploration and development of the gold deposits in the DaXingAnLing area. Exploratory work is expected to begin in March, 2014.
Chairman Zhang said, “The expansion of our gold and silver focused co-operative project now presents additional opportunities for China Shouguan Mining. We will be adding silver, copper and Molybdenum, which is a key ingredient in making steel strong and corrosion resistant."
Zhang added, “Molybdenum is in high demand as China keeps building power plants, turbine engines, offshore drilling rigs and turbine engines. It is also highly valued as a high-performance specialty lubricant and is a key component in fertilizers, retardants and vitamin supplements.”
The Agreement follows the initial signing of a Memorandum of Understanding between China Shouguan and the DaXinAnling Government in November 2013. The initial three projects that China Shouguan Mining begins exploration and development of in March are:
DXL West 15: Covering 500 square kilometers for gold and silver exploration along with other minerals.
ShaBaoSi Gold Mine: Covering 448 square kilometers with 10 exploratory rights licenses to mine gold, silver, copper, zinc and molybdenum.
TaYuanTong PolyMetallic Project: Covers an historically rich gold, silver, zinc and copper reserves area and includes the Project’s mining license.
Chairman Zhang said, “The diversification of our reserve potential and the expansion of our holdings will greatly increase the Company’s projected cash flow for 2014. These longer-term development projects present organic growth opportunities, which the Company will build on. With our special Government relationships these projects have low political risk and offer significant upside and growth potential.”
About China Shouguan Mining Corporation
China Shouguan Mining Corporation is a highly efficient gold mining exploration and development Company in the gold rich zones of Shandong and HeiLongJiang Provinces in China. The Company acquires or leases under-performing mines in major mineral zones, then funds the expanded exploration and production utilizing industry leading technologies. China Shouguan is planning to acquire mining operations in Australia, N. America and SE Asia and is focused on uplifting to NASDAQ by 2015.
For more information, please contact:
Christian Tedrow, Market Management International.
Phone: 407-921-7032 Email: info(at)marketmgt(dot)com
Safe Harbor Statement This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. 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.