Asian Dragon Group Provides Update On Project Luogold's Mineral Properties Indicating Multi-Million Ounce Gold and Silver Potential



    LUOYANG, CHINA, April 30 /CNW/ - Asian Dragon Group Inc., (OTCBB:AADG)
(FWB:P2J1) (WKN:A0KE7Z) is pleased to provide this updated summary on its
activities in China and the expansion of Asian Dragon's Project Luogold's
growth to over 11 million potential Gold ozs and 200 million oz+ Silver
equivalent deposits. Asian Dragon anticipates current quarter results to
provide further updates on proven reserves as historic results have been
mainly based upon results provided by Henan Geological Survey No. 1 team,
being the same group providing all initial and historic mineral results to
both Asian Dragon and TSX Listed Silvercorp.

    Property 1:

    Name:

    Jinjishan Gold Mine

    Location:

    Henan Province, China

    The Jinjishan Property consists of one 28.3 sq km Exploration License
Area which is contiguous. Its geographical coordinates are comprised within
the following perimeter: Longitude 111(degrees)19'30" E to 111(degrees)24'00"E
Latitude 34(degrees)22'00" N to 34(degrees) 25'00" N. The closest important
city is Luoning. Luoning is situated at about 1300 km WNW of Shanghai, 1300 km
SSW of Beijing, 270 km west of Zhengzhou the provincial capital and 130 km
west of Luoyang, the prefecture of the Luoning County. Access to the Jinjishan
Property is provided on a 120km large paved road which runs southwesterly to
the city of Luoning. From Luoning, a paved road leads southwesterly to the
town of Changshui and from that locality, a recently paved road leads
northwesterly to the Jinjishan village and then to the Jinjishan mining site.
The distance from Changshui to the property is approximately 10 km. This road
also links Luoning to Lushi, another important city to the southwest. The
Chinese government rights registration resides at the Mining Development
Centre Zhongduan, Jefang Road, Luoyang, Henan.

    Interest: 70% (through Joint Venture)

    Resources (measured - indicated - inferred):

    There are 16 known gold veins already located on the property.

    Inferred Mineral Resources for the F3-F10 Veins have been estimated to
1,271,920 tonnes grading 9.66 g/T Au. From these resources, the total
contained gold is 12,287 kg (358,363 ozs) Gold. Asian Dragon anticipates
further exploration activity will significantly increase these resources.

    Reserve:

    Production: (completely serviceable/to modernize/to create-Costs of the
modernisation/construction)

    Completely Serviceable-To Modernize

    Infrastructure: (complete/to modernize/to create-Costs of the
modernisation/construction)

    Complete/To Modernize.

    Asian Dragon has purchased the concentration mill and administration
buildings which include the offices and living quarters for the onsite
workers. The purchase includes the surface rights over the surrounding area
which can be used for further expansion of building structures. The
concentration mill and associated buildings are very accessible since a 2 line
paved highway travels through this area. The mill is a refurbished 100-120
t/day mill with all the required facilities (road, power, etc.) already in
place, whereas Silvercorp is building a new 600 t/day mill and all the
required facilities for CDN $13.5M. The cost of just the plant itself is
already $3.36M for Silvercorp. To build a new mill, a company must also apply
for a license, whereas, with the existing mill, Asian Dragon already holds a
license.

    Tunneling work and drilling work is contracted out to qualified
companies, all certified with the required licenses to work within China.
Jinjishan management utilized a bidding process to obtain the best cost
structure prior to awarding the contract. The company handling the tunneling
job is also one of the companies engaged by Silvercorp to work on their Ying
Silver Project. Plans have been laid out by Jinjishan management to conduct
work that shall produce ore for the mill and put it back into full production
by the 2nd quarter of 2007.

    Huashiyan Zone

    Adit work continues on the 770m Tunnel. The tunnel is 2m high by 2.2m
wide and a total of 470m has now been completed. This includes the 280m direct
drive that has crossed 3 veins as planned and encountered 2 other smaller
narrow veins. The work now focuses on the vein crossing at 250m where the adit
turns parallel to the vein going east for 60m and west for 130m. The width of
this vein is measured from 0.6m to 1.3m. Chip samples have been taken from a
number of locations along this vein for assay, results of which will be
available shortly.

    Zhuyuanmao Zone

    A 2 hole drill program has been initiated to test for the extension of 5
veins exposed on the surface with an outcrop. These veins were recently
discovered while conducting geological survey work which was not previously
done for this zone. The first drill hole has been completed at a depth of 301m
and the second drill hole is currently at a depth of 260m. The 2 drill holes
are 50 metres apart and the second drill hole is located further from the
outcrop at a lower elevation of 25 metres.

    Liushugou Zone

    Preparation work has begun for the 788m Tunnel. Workers have started
clearing the area in preparation for the planned drive of 500m. This tunnel is
located at an elevation of 788m and starts at a 20 degree slope, before
leveling off after 120m. The plan is to cross through 4 veins at depth to test
for the extension where previous mining has taken place near the surface.

    Property 2:

    Name: Shizhaigou Gold Mine

    Location:

    Henan Province

    From the city of Luoning, the property is accessible by an all weather
paved road to the village of Changshui (Hu Chih Kou) over a distance of 40 km,
then by a 19 km unpaved road. The Shizhaigou Property is located approximately
1.5 km from the Jinjishan Property.

    Interest: 70% (through Joint Venture)

    Resources (measured - indicated - inferred):

    There are currently 17 known and evaluated heavily mineralized veins on
the property and many more veins are expected to be discovered as exploration
activity increases. In addition to excellent gold numbers the veins also
contain other valuable metals such as Silver, Copper, Lead and Zinc.

    Testing on eight of the veins already indicate 8,056,250 tonnes of ore
with an average gold grade of 6.35 g/T for gold totaling over 51 tonnes. More
detail can be found on the table listed below:

    
    Vein      Length Width Thick Volume   SP   Tonnage    Grade  Gold
     (m)       (m)    (m)   (m)   (m3)          (T)       (g/T)  Content
                                                                 (kg)
    -------   ------ ----- ----- -------- ---- ---------- ------ ---------

    -------   ------ ----- ----- -------- ---- ---------- ------ ---------
    S-1         700   200     3  420,000  2.5  1,050,000      5      5250
    -------   ------ ----- ----- -------- ---- ---------- ------ ---------
    S-2        1200   150     3  540,000  2.5  1,350,000    3.5      4725
    -------   ------ ----- ----- -------- ---- ---------- ------ ---------
    S-3        1200   150   2.5  450,000  2.5  1,125,000    3.5    3937.5
    -------   ------ ----- ----- -------- ---- ---------- ------ ---------
    S-10        700   150   2.5  262,500  2.5    656,250      5   3281.25
    -------   ------ ----- ----- -------- ---- ---------- ------ ---------
    S-5         850   200     2  340,000  2.5    850,000     12     10200
    -------   ------ ----- ----- -------- ---- ---------- ------ ---------
    S-13        600   150     2  180,000  2.5    450,000      8      3600
    -------   ------ ----- ----- -------- ---- ---------- ------ ---------
    S-15        600   250     2  400,000  2.5  1,000,000      6      6000
    -------   ------ ----- ----- -------- ---- ---------- ------ ---------
    S-7-8      2100   150     2  630,000  2.5  1,575,000      9     14175
    -------   ------ ----- ----- -------- ---- ---------- ------ ---------

    -------   ------ ----- ----- -------- ---- ---------- ------ ---------
    Total                                        8056250   6.35  51168.75
    -------   ------ ----- ----- -------- ---- ---------- ------ ---------
    

    Reserve:

    Production: (completely serviceable/to modernize/to create-Costs of the
modernisation/construction)

    To Modernize.

    Two roll mills on site which produce at 5 tonnes per day.

    Infrastructure: (complete/to modernize/to create-Costs of the
modernisation/construction)

    To Modernize.

    The Shizhaigou Property is being artisanally mined and is operating two
roll mills.

    Property 3:

    Name: Loning Gold Mine

    Location:

    Henan Province

    The Loning Property consists of a 9.1 sq km Exploration License and is
located 2 km Southwest of the Jinjishan Property.

    Interest: 70% (through Joint Venture)

    Resources (measured - indicated - inferred):

    Reserve:

    Production: (completely serviceable/to modernize/to create-Costs of the
modernisation/construction)

    To be further established. The Loning, Jinjishan and Shizhaigou
properties provide Asian Dragon with over 11 million potential gold ozs
according to local Chinese reports located within close proximity to its
wholly owned and licensed Luogold Mill.

    Infrastructure: (complete/to modernize/to create-Costs of the
modernisation/construction)

    To be further established.

    Easy access to Mine via the paved highway that runs East/West of the
North side of Luoning County.

    Property 4:

    Name: Lingbao Jinshan Gold Mine

    Location:

    Henan Province

    The Lingbao Jinshan Property is situated within the jurisdiction of
Lingbao City and is approximately 125 km from the Jinjishan Property.

    Interest: 70% (through Joint Venture)

    Resources (measured - indicated - inferred):

    Grades of veins ranging from 7.09 to 13.61 g/t, the average grade of the
whole mine is 11.33 g/t Au.

    Reserve:

    Production: (completely serviceable/to modernize/to create-Costs of the
modernisation/construction)

    Completely Serviceable

    Infrastructure: (complete/to modernize/to create-Costs of the
modernisation/construction)

    Complete.

    There are 430 employees, including management and administrative
personnel (62), production personnel (290) and assistants (78). The Lingbao
Jinshan Property is equipped with railroad tracks for the main haulage and
wheelbarrows for the secondary haulage. Transfer stations are installed at
different levels. Levels are connected to a main decline equipped with winches
and stairway. At present the lowest production level is 300 metres and the
maximum depth of the exploitation is 620 metres. There are eight levels
established on several quartz-carbonate veins. The ore concentration method is
floatation and the present designed concentration capacity is 1,000 tonnes of
gold ore per day or 300,000 tonnes of gold ore per year. It is expected this
capacity can be increased to 700,000 tonnes per year.

    Property 5:

    Name: Tiepling ("TLP")Silver and Lead Mine Property

    Location:

    Henan Province China.

    The TLP Silver and Lead Mine is located directly adjacent to TSX Listed
Silvercorp Metals Inc's successful Ying Silver Project in Henan Province. The
TLP Silver and Lead Mine is found in a world renowned region for galena high
grade silver lead type of deposits. These initial and further acquisitions
open the door to exclusivity on 200,000,000 oz+ of Silver equivalent deposits
and are another significant step forward for Asian Dragon as it continues its
growth in China's precious and base metal industries.

    Interest: Terms of Joint Venture Finalized with Asian Dragon Interest
being 70% on initial two major tunnels at TLP

    Resources (measured - indicated - inferred):

    According to Chinese resource standards the TLP Silver and Lead Mine
claim an indicated resource of 1,061.69 t of contained silver and
approximately 200,000 t of contained lead with reported grades averaging 292
g/t Ag and 3% Pb.

    Reserve:

    Production: (completely serviceable/to modernize/to create-Costs of the
modernisation/construction)

    Completely Serviceable

    Infrastructure: (complete/to modernize/to create-Costs of the
modernisation/construction)

    Complete

    Co-Operative Agreements & Government Support

    Asian Dragon has several key Co-operative agreements with significant
industry and government bodies in China all of which greatly increase Asian
Dragon's ability to source, acquire and manage precious metal properties.
Theses key agreements give Asian Dragon a permanent presence in the region and
ensure all manner of its operations will progress smoothly.

    Asian Dragon has a Cooperative Agreement with the Sanmenxia Yunjiu
Investment Consultant Company (Yunjiu) of China. The Cooperative Agreement
provides Asian Dragon immediate access to top local producing gold properties.
The Cooperative Agreement with Yunjiu is unique as it allows Asian Dragon to
venture with a specialized Sino Joint Venture Company formed with local
government support. Asian Dragon and Yunjiu are focused on partnering with
local companies and properties to facilitate Asian Dragon's investment and
growth in the gold mining and precious metals industries of the Sanmenxia City
Administration Zone and the Xiaoqinling Region. The Sanmenxia City
Administration Zone administers and manages the counties that form the central
part of the heavily mineralized Xiaoqinling Region. The Sanmenxia City
Administration Zone operates in the same manner as the Luoyang City
Administration Zone which administers the counties that form the eastern part
of the Xiaoqinling Region. One of the counties administered and managed by the
Sanmenxia City Administration Zone is Lingbao County. This prolific county has
been the number two ranked county in gold production of all the counties in
China over the last 10 years and has been the base for several major gold
mining companies including Lingbao Gold Company.

    Asian Dragon has a Cooperative Agreement with Henan Yunfeng Resource Of
Mine Development Co. Ltd. (Yunfeng) of China. The Yunfeng Cooperative
Agreement provides Asian Dragon immediate access to the Henan Luoyang Gold
Brigade No. 6 Team, which has a number of local producing gold properties and
dozens of exploration mineral properties available for joint venture. The
Yunfeng Cooperative Agreement is unique as it allows Asian Dragon to joint
venture with a specialized Sino Joint Venture Company formed with local
government support. Asian Dragon is focused on partnering with local resource
companies who have access to properties which can facilitate the Asian
Dragon's strategy of investment and growth in the gold mining and precious
metals industries in the Xiaoqinling Region of Henan Province.

    Asian Dragon also has the full support of the China Luoyang Gold Bureau
(the "Bureau"). The Bureau has jurisdiction of Luoyang City, Henan Province
controlling an area of over 15,208 sq kms. The Bureau's extensive jurisdiction
includes four counties located within the prolific resource rich belt of
Xiaoqinling, the region at the heart of Asian Dragon's Project Luogold in part
due to its ranking as China's second most productive region in gold and third
most productive region in silver. Asian Dragon's confidence in this area is
shared by other successful companies such as Silvercorp Metals Inc. and the
Lingbao Gold Company. Bureau Ministers Shen Gongrong and Deputy Minister Xu
Xile have praised the success of Asian Dragon and are especially pleased with
its management of the Jinjishan Gold Mine (the first key acquisition of
Project Luogold). The Ministers commended Asian Dragon for providing funds on
a timely basis to finance production and exploration at the Jinjishan Gold
Mine, especially since many foreign companies have failed to follow though on
their joint venture agreements to develop resource based projects in China. In
recognition of Asian Dragon's work in developing significant projects in the
area the Ministers, on behalf of the entire Bureau, have pledged their future
assistance to Asian Dragon and offered an additional 23 gold projects for
potential joint-ventures. Asian Dragon will review these exclusive
opportunities and secure those projects that compliment its continuing
development of Project Luogold.

    Key Personnel

    Mr. John Karlsson

    John Karlsson, Esq., embarked upon his international business career in
1991 as an entrepreneur positioned at the heart of Pacific Rim resource and
technology exchange in Fukuoka City, Japan. Establishing relationships
throughout Asia and growing a reputation as a relentless and respected
entrepreneur, Mr. Karlsson grew several successful private ventures based upon
North American resource trade to Asia and the return of Asian technologies
back across the Pacific.

    Educated first in International Capital Markets during his business in
Japan, Mr. Karlsson furthered this education in Canada at the globally
acclaimed University of Victoria completing a bachelor's degree with a focus
on International Business and Commerce moving then into International Finance
with a Law degree from the University of Manitoba. Karlsson Law Corporation
was founded in 2003, with a strict focus on the development and finance of
high potential private companies, assets and opportunities with an eye always
on Asia and now in particular, China. This focus has sustained and prospered
through Mr. Karlsson's practice in the areas of securities, corporate finance
and commercial law. Through this practice, Mr. Karlsson has regularly advised
partners and clients in respect of local, national, international and
cross-border public and private financings, mergers and acquisitions and
corporate reorganizations. Mr. Karlsson's relationships and knowledge have
ensured clients are structured for strong future growth, utilizing
jurisdictional strengths in their asset and intellectual property protection,
licensing and growth initiatives. Karlsson Law Corporation has further
provided expertise in matters of corporate governance including takeover bids,
proxy disputes, special committee matters and all matters relating to
structuring and operating boards. Karlsson has assisted client and partner
companies in their listings on the Toronto Stock Exchange (TSX), NASDAQ, the
London Stock Exchange (AIM), and the American Stock Exchange (AMEX) as well as
various other international stock exchanges.

    Mr. Karlsson's business model of seeking out high potential private
companies, assets and opportunities coupled with the ability to raise
associated capital, build management and provide market liquidity for
investors via public capital markets has shone in the development of the
latest venture, Asian Dragon Group Inc. Through key and long standing
relationships with top level government and industry figures in China, Mr.
Karlsson has developed an unheralded asset base in China with immediate plans
for build-out of senior operational management and internationally renowned
board members to complete the Asian Dragon vision.

    From acting as lead counsel to the public company merger target with
CyberKinetics, Inc., one of the "Fierce Fifteen" bio-medical deals in North
America in 2005, Karlsson has garnered international acclaim as a company
builder, mediator for corporate disputes and a facilitator for national and
international mergers and finance. Mr. Karlsson's focus now rests solely on
the further development of Asian Dragon Group Inc., and the Company's
continued market dominance.

    Mr. Christian Derosier

    Mr. Derosier, president of CDGC Inc., a world renowned geology and mining
consulting company, was appointed as Asian Dragon's independent qualified
person on November 7, 2006. Mr. Derosier was engaged to conduct due diligence
and complete technical reports compliant with National Instrument 43-101 and
SEC Industry Guide No. 7 on the Jinjishan and Shizhaigou Gold Mines as well as
other Asian Dragon properties.

    Mr. Yang Dali

    Mr. Yang was appointed Chief Chinese Advisor to Asian Dragon on January
4, 2007 to aid in its growth as a dominant player in China's gold and precious
metals industries.

    Mr. Yang graduated from Zhongnan Industrial University with a Bachelor's
Degree in Science in 1960 then continued to the position of Engineer with the
Beijing Non-Ferrous Metallurgy Design and Research Institute. Mr. Yang has
held positions as Department Head, Director of External Affairs and Chief
Engineer of the following organizations: the Gold Bureau of China, the
Ministry of Metallurgy; the Gold Company of China; the Headquarters of the
Military Police for Gold; the State Gold Administration; and the Gold
Administration under the State Economic and Trade Commission from 1975 - 1998.
Mr. Yang is also a member of the Precious Metal Reserves Commission and a
member of the Land and Geology Society of China. Mr. Yang is a senior adviser
and expert (registered) of the Mineral Resources Association of China and a
part-time professor at Zhongnan Industrial University. Mr. Yang was formerly
appointed independent non-executive director of Zijin Mining Group Co., Ltd.,
one of China's largest and most developed mining concerns.

    Mr. Yang is stationed in Beijing, China and will be assisting Asian
Dragon in all facets of Project Luogold as well as evaluating prospective new
mining projects for acquisition.

    Mr. Dan Hachey

    Mr. Hachey was appointed to the Board of Directors on March 22, 2007.
John Karlsson, President and CEO, stated on the appointment, "Asian Dragon has
seen unprecedented growth in its expansion as an emerging dominant force in
the China precious metals sector as we continue to focus on the growth of
earnings and shareholder value. The addition of Mr. Hachey to our Board comes
with an eye on securing strong institutional support to further the
development of Asian Dragon's current group of projects and our acquisition of
future key properties and operations."

    Mr. Hachey has a strong investment banking background with over twenty
years of experience in the capital markets, largely in the area of public
equity financings, Initial Public Offerings (IPOs) and private placements. Mr.
Hachey has also been active in the area of mergers and acquisitions, fairness
opinions and other advisory work. Currently, Mr. Hachey is President and CEO
of Greenwich Global Capital Inc., a public capital pool company listed on the
TSX-V. In addition, Mr. Hachey has held Board of Directors' positions with
both public (NASDAQ, TSX and TSX-V) and private companies.

    Mr. Hachey has held senior investment banking positions with a number of
firms and has worked in Toronto, New York and Montreal. Dan also held the
title of President & CEO of a public mining company listed on the TSX-V.

    Notable financings that Mr. Hachey has been a factor in include Glamis
Gold (recently purchased by Goldcorp), Canico Resource (recently purchased by
CVRD), Research in Motion, JDS Fitel (now JDS Uniphase), Alliance
Communications (now Alliance Atlantis), as well as many other companies in
various industries including mining, oil & gas, forest products, manufacturing
and technology.

    Mr. Hachey graduated from McGill University with a MBA degree in Finance.
Prior to that he was enrolled in a Master of Science program at Universite de
Montreal after earning his Bachelor of Science degree from Concordia
University.

    Financings

    Asian Dragon has successfully completed three major private placements.
In each placement no warrants were attached nor were any finders fee's paid.
On November 7, 2006 there was a placement of 250,000 shares at $4.00 US per
share for funds of $1,000,000 US. On December 19, 2006 there was a placement
of 400,000 shares at $5.00 US per share for funds of $2,000,000 US. On April
2, 2007 there was a placement of 300,000 shares at $5.00 US per share for
funds of $1,500,000 US.

    Asian Dragon has demonstrated its ability to source and acquire interests
in China's booming precious metals industries and continues growing towards
being one of major players in this sector. Asian Dragon will provide further
updates shortly on Project Luogold.

    About Asian Dragon

    Asian Dragon was established to focus on China's explosive precious
metals reserves and markets and to become one of China's largest foreign gold
and precious metals producers through a series of joint ventures and mine and
property acquisitions.

    Long standing relationships with the Gold Bureau and other Chinese
partners have provided Asian Dragon with the exclusive opportunity to commence
due-diligence on several advanced Chinese Mining Projects in one of the
Country's most well-known and prolific mineral production regions, the
Xiaoqinling Region.

    Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: The statements contained herein which are not historical are
forward-looking statements that 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 market acceptance of new
technologies or products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.




For further information:

For further information: Asian Dragon Group Inc. Investor Relations:
Badshah Communications Group Ltd., 866-857-7522

Organization Profile

ASIAN DRAGON GROUP INC.

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