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Gold World Resources Inc. (the "Company") is a resource company searching for economically attractive gold and silver projects located in the People’s Republic of China.
The Company’s extensive international network supports management’s desire to strengthen its portfolio of assets by actively pursuing the acquisition of gold producing projects while always keeping in mind to maximize shareholder value. The Company’s mandate is to become a self-sufficient precious metals producer utilizing its operating experience in China. The Company has a strong shareholder base to attract additional financing when needed.
On March 20, 2009 the Company was granted a Business License for its Chinese joint venture company "Hebei Ming Yu Mining Corporation Ltd" ("Ming Yu") with a business term of 30 years, beginning March 20, 2009 to March 19, 2039.
This follows the Company’s recent receipt of the "Certificate of Approval for Establishment of Enterprises with Foreign Investment in the People's Republic of China", issued by the Hebei Provincial Bureau of Commerce (see press release March 16, 2009) and which allows Gold World Resources Inc. of Canada and the Shijiazhuang Comprehensive Geological Brigade of Hebei Geological Bureau (the "Brigade") to enter into a Cooperative Joint Venture to be known as the "Hebei Ming Yu Mining Corporation Ltd.". Ming Yu's business scope is the exploration of gold deposits and their associated minerals within blocks and areas of exploration rights approved by government authorities.
The Company will earn its 70% interest in Ming Yu following its contribution of USD178, 393.00 to its registered capital within 6 months. The Company's partner, the Brigade, will acquire its interest of 30% in Ming Yu by contributing the Ming Gold/Silver exploration property (17.46 sq.km surface area), the exploration license and geological data related to that property. The Company's interest in the joint venture could increase to up to 85% if the Brigade elects not to contribute beyond the 30% of registered capital as per the dilution rules of the joint venture agreement.
The grant of the Business License brings to a positive conclusion the licensing process.
The Company filed a NI 43-101 Technical Report (see Investor Info - Related Reports or www.sedar.com ) on the Ming Gold/Silver Project.
During historical times ("Ming era") and more recently, gold and silver was mined on the Ming Gold/Silver Project (17.46 sq.km surface area). Three presently producing gold-silver mines in proximity make this project very attractive (see SEDAR or website www.goldworldresources.com under Investor Info/Related Reports, Technical Report 43-101 by SRK Consulting China Ltd., on Yangjiagou Gold-Silver Project ("Ming Gold/Silver Project")).
Preparation for the field work has begun under the guidance of Cunyou Li, the Company's Exploration Supervisor, in cooperation with the Brigade. Management is very pleased to be able to move on to the exploration phase of this project and is extremely happy with the level of professionalism and interest shown by both the Chinese authorities and the Brigade.
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