MONTREAL, Oct. 12, 2005 (PRIMEZONE) -- East Delta Resources Corp. (OTCBB:EDLT), (Frankfurt:EJK) announced today that it has recently completed an unregistered offering of treasury stock, successfully raising an additional US$575,000. The bulk of the new funds will go to propel plans already underway in China aimed at purchasing various small to mid-sized producing gold mines.
As previously announced, the Company has to date acquired one producing gold mine and has several others in various stages of due diligence, with signed letters of intent to acquire them.
Victor Sun, President and CEO of East Delta, stated, "East Delta is moving simultaneously along many tracks. Aside from developing our flagship property at Bake, we intend to grow aggressively through the acquisition of existing gold mines. These mines will benefit from our expertise and our supplying them with funds to modernize and expand. This new funding now gives us the ability to close on a second producing mine fairly quickly."
The Company
East Delta Resources Corp. is a publicly traded Delaware corporation, headquartered in Montreal, Quebec whose business objective is to profit from the recent strong worldwide revival of interest in precious metals. EDLT's primary activity is in mine development and production of gold. EDLT also participates in other mineral exploration and mining, specifically, silver, nickel, zinc and lead. The geographic focus of the Company currently is mostly China.
With over US$1.5 million in the bank, majority interest in several highly-prospective properties, experienced personnel, and an extensive network of contacts in China, the Company believes it has made a solid start on implementing its business plans and objectives.
Safe Harbor
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.