TORONTO, May 25 /CNW/ - Gold World Resources Inc. (GDW-TSX-V), ("GWR" or the "Company") is pleased to announce that, based on the positive outcome of the due diligence and technical assessment by SRK Consulting Beijing ("SRK"), the Company is proceeding with the negotiations of a formal contract for the acquisition of the Jin Yin Dong Gold Mine ("JYD Mine") with the owner Guizhou Rong Huai Investment Development Ltd. (see press release April 12, 2010).
The principal objective of SRK's due diligence and independent technical assessment was to provide GWR with a clear understanding of the potential for gold and silver mineralization in the area of the JYD Mine project and make recommendations for further exploration and development of the project area.
The SRK team completed a site visit in order to collect information about the project and in order to take data verification samples. SRK reviewed all technical aspects of the projects, including geology, resources, and exploration programs, mining and ore processing, based on available information and the site inspection. The program for the technical assessment included site visit and desktop review on the materials available. More information on the SRK due diligence findings will be provided after receiving the final Technical Report.
The JYD Mine is an operating mine, has one exploration permit, and one mining license covering 41.27 and 17.7653 km(2), respectively, in Tianzhu County, Guizhou Province. Underground mining systems were developed in three areas.
The Company is exploring for precious metals in China and recently announced that it had attained a full 70% interest in Hebei Ming Yu Mining Corporation.
ON BEHALF OF THE BOARD
Chairman & CEO
Gold World Resources Inc.
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Securities Act (Alberta), including statements concerning Gold World Resources' plans for the Property, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gold World Resources, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such information contained herein represents management's best judgment as of the date hereof based on information currently available.
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Gold World Resources Inc.
For further information: For further information: Hermann Derbuch, P.Eng., Tel.: (416) 594-9888, Fax: (416) 594-1967