NEW YORK, April 7, 2011 (GLOBE NEWSWIRE) -- Strategic Mining (OTCBB:SMNG) announced today that the drilling program will begin next month due to unanticipated delays at customs and the need to order additional parts for the rig. The company is presently arranging the schedule for the geologist and drilling crew from Core One, an experienced US drilling company, to arrive on site in May.
The Boart Longyear LF 70 will be the first angular core drill rig in Hoa Binh Province. The completion of the 2500 meters drilling of core drilling is necessary to define the gold reserves and to give the exact locations where to begin the mining operations.The rig has cleared customs; has been moved to a storage facility near the gold property and has been inspected.
Strategic Mining is continuing negotiations to acquire an interest in the Dong Thanh gold property. Samples are presently being tested by a well qualified US metallurgist to determine the cost and the best method to attain the highest extraction level for the gold. The results will assist in finalizing an agreement.
The company contacted FINRA yesterday after an "E" was added to its trading symbol. A FINRA representative explained that an error was made by their computer system and that the "E" should be removed by Friday. An extension was filed with the SEC for the 10K (2010 audit) and is due on April 15, 2011.
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.