HONG KONG and BELLINGHAM, Wash., June 26, 2013 (GLOBE NEWSWIRE) -- Asia Properties, Inc. (API) (OTCQB:ASPZ) today announced that it has filed its 2011 10K and filed its 2 year claim extension for its Banroy claim in Quebec, Canada.
The Company is pleased to confirm the filing of the 2011 10K after it received the long awaited Consent Letter from the previous auditor, Parker Randall. The Company is now conducting its 2012 audit and will become current in its filings as soon as that is completed and filed.
Further, the Company confirmed that it has filed to renew its 16 Banroy claims located in La Pause Township, Abitibi, in Quebec, Canada. The Banroy claims are located along the prolific "Cadillac/Larder Lake Break" that combined have produced over 50 million ounces of gold. "This claim is the right gold 'address' being located along the Cadillac Break," said CEO, Daniel McKinney.
The Company is currently raising funds for further geological exploration and for the closing of the King's Point claim in Newfoundland, Canada. "After the encouraging geological results from the past two years, our goal is to bring the Rendall-Jackman mine up to 43-101 reporting standard," said McKinney.
The Company is still conducting due diligence on the Peru MOU announced on April 4, 2013. In the meantime, the API team continues to vet other claims worldwide, including some very promising sites in Arizona, Nevada and Utah that the gold majors are selling or disregarding due to the downturn in the gold price. "We like the low risk nature of North American claims and this presents a big opportunity at this time with the recent gold price plunge with big mining refocusing only on their largest producing mines," said McKinney.
About Asia Properties, Inc.: is a Nevada corporation and trades on the OTCQB under the symbol "ASPZ." There are currently 38,421,362 fully diluted shares. The transfer agent is Transfer Online, Inc. of Portland, Oregon. Please visit our website: www.asiaprop.com
This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.