NEW YORK, March 7, 2011 (GLOBE NEWSWIRE) -- Strategic Mining (OTCBB:SMNG) announced today that president Todd Sterck and consultants arrived in Vietnam yesterday to complete negotiations to acquire interest in a currently producing Northern Vietnamese gold mine and to investigate several other gold producing properties in the same region with samples being collected.
Dong Thanh is located 7 miles from the company's Nat Son gold property and, according to geologist Bob Marvin, is situated on the same gold trend.
The prospective acquisition is strategically aligned with the company's business model of acquiring underperforming near-term or in-production gold properties in close proximity to one another in order to efficiently target known deposits and benefit from economies of scale.
President, Todd Sterck, commented: "We look forward to work with the government on an already producing gold mine and to significantly increase output through the use of modern technology and processes."
Our goal is to become a significant gold producer. We are currently focused on the exploration and development of gold properties in Vietnam, the US and Africa. The company intends to expand by acquiring mineral rights to more key properties and initiating strategic joint ventures. To learn more about us, visit www.strategicminingcorp.com.
Safe Harbour: 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 identity 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.