DURANGO, Mexico, Feb. 15, 2008 (PRIME NEWSWIRE) -- Silver Dragon Resources Inc. (OTCBB:SDRG) wishes to withdraw its news release dated January 22, 2008, announcing its discoveries at the La Crucitas zone on the Cerros Las Minitas property in Durango, Mexico.
The Company recently began a review of the assay results for La Crucitas and discovered that some of the findings were based on preliminary, unofficial data and there may have been discrepancies in the methodologies and calculations used in the averaging of the mineralization data. Because of this, the Company wishes to withdraw this news in order to preserve and maintain a high standard of integrity and correctness of information disclosed to the public.
The Company will perform a detailed review upon receipt of the official assay(s). A revised news release with updated results and findings will be released following the Company's detailed review.
About Cerros Las Minitas
Cerros Las Minitas is comprised of 16 concessions covering 1,423 Hectares. It is located in Durango, Mexico and comprises the Cerros Las Minitas mining district, part of the prolific silver belt of the Sierra Madre Occidental. Silver Dragon Resources Inc. through its wholly owned Mexican Subsidiary Silver Dragon Mining de Mexico S.A. De C.V. acquired the exploration and mining rights to the property in March 2006.
About Silver Dragon Resources Inc.
Silver Dragon Resources Inc. is a mining and metal company focused on the exploration, acquisition, development and operation of silver mines in proven silver districts globally. Silver Dragon's objective is to acquire silver mining assets that contain promising exploration targets, have highly leveraged, out-of-the-money silver deposits, and/or are producing properties with significant untapped exploration potential. It is management's objective to grow Silver Dragon into a significant silver producer by developing the Cerros Las Minitas and Erbahuo projects in Mexico and China respectively. For more information, please visit the Company's website at: www.silverdragonresources.com (now available in Chinese).
The Silver Dragon Resources Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4242
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical, such as statements regarding the exploration and development of the Cerros Las Minitas Silver Project, outcome and timing for the completion of further assays and metal amounts in partial assay results, are forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur. Information inferred from the interpretation of assay results and information concerning mineralization zones may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to future assay results, delays in testing and evaluation of assays, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.