TORONTO, Feb. 25 /CNW/ - Gold World Resources Inc. (GDW-TSX Venture) (the
"Company") is pleased to announce that the TSX-Venture Exchange has accepted
for filing, documentation pertaining to a Cooperative Joint Venture Contract
("CJV"), dated November 9, 2007, between the Company and Shijiazhuang
Comprehensive Geological Brigade of Hebei Provincial Bureau of Geological
Exploration & Mineral Resources Development, to establish a Joint Venture
Company ("JVC"), operating under the name "Hebei Ming Yu Mining Corporation",
located in Hebei Province, China. The JVC has the right to explore and develop
the Ming Gold/Silver property. This is a major step for the Company and puts
it on the path to implement its vision to play a significant role in China's
gold/silver production growth.
Under the terms of the Agreement, the Company will make aggregate cash
payments of US$1,750,000 over an eighteen (18) month period to the registered
capital and total investment of the JVC in order to earn 70 percent of the
shares of the JVC. A finder's fee of US$60,000 in cash and 850,000 common
shares will also be paid under the transaction.
The Company's Ming Gold/Silver property is located in a prolific
gold-silver area. In historic times gold and silver was mined from surface
pits and underground adits many of which are visible on the property. Several
producing gold and silver mines nearby highlight the attractiveness of this
About Gold World Resources Inc.:
The Company is exploring for precious metals in China and has signed
recently a Joint Venture Contract to establish a Sino-Foreign Contractual
Joint Venture Company for the exploration and development of the Ming
(Yangjiagou) Gold/Silver Project. For more information about the Company's
activities we invite you to visit our website www.goldworldresources.com.
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.
For further information:
For further information: Hermann Derbuch, P.Eng., Tel.: (416) 594-9888,
Fax: (416) 594-1967