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Press Release
Gold World Resources proceeding with acquisition negotiations of the
Jin Yin Dong Gold Mine, Guizhou Province, China
Toronto, May 25, 2010, Gold World Resources Inc. (GDW-TSX-V), (“GWR” or the
"Company") is pleased to announce
that,
based on the positive outcome of the due diligence and technical assessment by
SRK Consulting Beijing (“SRK”)
,
the Company is proceeding with the negotiations of a formal contract for the
acquisition of the Jin Yin Dong Gold Mine (“JYD Mine”) with the owner Guizhou
Rong Huai Investment Development Ltd. (see press release April 12, 2010).
SRK provides independent expert advice and solutions for resource clients
requiring specialized services. For mining projects, SRK offers services from
exploration through feasibility, mine planning, and production to mine closure.
Formed in 1974, SRK now employs about 1000 professionals internationally in 36
permanent offices on 6 continents. SRK Consulting China Ltd’s Beijing office and
Nanchang office were established in 2005 and 2008 respectively to deal with the
increase in demand for SRK’s services in China.
The SRK team completed
a site visit in order to collect information about the project and in order to
take data verification samples. SRK reviewed all technical aspects of the
projects, including geology, resources, and exploration programs, mining and
ore processing, based on available information and the site inspection. The
program for the technical assessment included site visit and desktop review on
the materials available. More information on the SRK due diligence findings will
be provided after receiving the final Technical Report.
The JYD Mine is an
operating mine, has one exploration permit, and one mining license covering
41.27 and 17.7653 km², respectively, in Tianzhu County, Guizhou Province. Underground
mining systems were developed in three areas.
The Company is
exploring for precious metals in China and recently announced that
it had attained a full 70% interest in Hebei Ming Yu Mining Corporation.
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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