CHEYENNE, Wyo., March 9, 2010 (GLOBE NEWSWIRE) -- Strategic Mining Corporation (Pink Sheets:SMNG) announced today that it has signed an agreement with Ba Dinh Minerals JSC, a Vietnamese mining company, for the acquisition of the Nat Son 105 hectare gold property located near Long Son, Viet Nam.
Strategic Mining will acquire the mineral rights for 50 percent of the Nat Son gold property with an option to acquire up to an additional 25 percent.
Prior to entering into the agreement, the company received assay reports from three independent labs, a geochemical survey and a NI 43-101 report which indicated that the Nat Son was a "Property of Merit."
The company met with key government officials who have expressed full confidence in and support to company president, Todd Sterck. In anticipation of the execution of the agreement, the government built a new road to the property and employee housing adjacent to the site.
Todd Sterck stated: "This property provides a potentially lucrative opportunity for future gold production. Our company is now in a position that every junior mining company seeks. In essence, we have the opportunity to create immense shareholder value while simultaneously garnering the reputation as a vanguard mining company in Northern Viet Nam."
Strategic Mining Corporation is engaged in the exploration and development of gold properties in Viet Nam, the U.S. and Africa. The company intends to expand by acquiring mineral rights to key properties and initiating strategic joint ventures. As previously stated in company press releases, Strategic Mining is in the process of filing to move to the OTCBB.
Safe Harbor: No assurance can be given that past or similar results of precious metal mining will be indicative of future results. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding of discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intent to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks in the company's SEC reports and filings.