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Press Release
Gold World
Resources Signs Letter of Intent with
Kun Peng Mining
Company Limited, Inner Mongolia, China
Toronto,
June 25, 2008, Gold
World Resources Inc. (GDW-TSX Venture) (the "Company") is pleased to announce
that it has signed a Letter of Intent ("LOI") with Kun Peng Mining Company
Limited ("Kun Peng") of Chifeng City, Inner Mongolia (northern China).
The purpose of the LOI is to
provide the Company the opportunity to complete due diligence on the Kun Peng
operating gold mine and associated ore deposit with the intention of executing
a commercial transaction with Kun Peng which may include a Cooperative Joint
Venture, Equity Joint Venture or purchase of Kun Peng, including two mining
licenses and two exploration licenses for underground gold mining and
exploration.
The cooperative mineral blocks
cover an area of 28.395 km² and are located on the south slope of the Comb Mountain
range in Yanchigou of Xigiao Township of Kalqin County. The mining area is 62
km north of Chifen
City accessible via a
paved road.
A report, prepared by Beijing
Geology Development Corporation (dated December 2007) describes ore bodies
occurring in extensive altered fracture zones with an average gold grade of
9.08 g/t (not 43-101 compliant). Gold grades between 4.39 g/t and 14.22 g/t are
quoted for three mining areas.
The mining method currently used
at the Kun Peng mine is open stope retreat mining with mining levels
established at 40 m vertical intervals. Gold ore is transported to the surface
in 1-ton side-dumping cars where it is loaded onto dump trucks by wheel loaders
and shipped to a nearby mill. The mill's 50 t/day capacity is presently being
increased to 300 t/day coupled with a matching increase in underground
production capacity. The mill produces a pyrite concentrate which is shipped to
a nearby smelter by dump truck for gold recovery.
The Company has commissioned SRK
of Beijing, an internationally recognized engineering firm, to prepare a
Technical Review of the Kunpeng Gold Projects, Chifeng, Inner
Mongolia to assist the Company in establishing the parameters for
a commercial transaction.
The objective of the Company is
to use its current base and contacts in China to acquire both, prospective
exploration properties for exploration and development as well as currently
operating properties which have the potential for increased production and ore
reserves through the application of Company's Canadian gold mining
expertise.
About Gold World Resources Inc.:
The Company is exploring for
precious metals in China
and has recently signed a Joint Venture Contract to establish a Sino-Foreign
Contractual Joint Venture Company for the exploration and development of the
Ming Project. For more information about the Company's activities we invite you
to visit our website www.goldworldresources.com
.
ON
BEHALF OF THE BOARD
"Hermann
Derbuch", For
further information please contact:
Chairman
& CEO Hermann
Derbuch, P.Eng.
Gold
World Resources Inc. Tel.:
416.594.9888 Fax: 416.594.1967
Certain of the
statements made and information contained herein is „forward-looking
information" within the meaning of the Securities Act (Alberta), including
statements concerning Gold World Resources' plans for the Property, which
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Gold World Resources,
to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking information. Such information
contained herein represents management's best judgment as of the date hereof
based on information currently available.
The TSX-Venture
Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of this release.
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