Silk Road announces acquisition of additional 20% interest in Gansu Jiaxin Minerals Company Limited



    
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    TORONTO, April 2 /CNW/ - Silk Road Resources Ltd. (TSX-V: SIL) ("Silk
Road" or the "Company") announces that it has completed the acquisition of an
additional 20% interest in its joint venture company, Gansu Jiaxin Minerals
Company Limited (the "Interest") in respect of the Bulagou mining property in
Gansu Province, China (the "Project").
    Pursuant to the terms of an Equity Interest Transfer Agreement dated
September 21, 2007, Power Fortune Resources Limited, an indirect wholly-owned
subsidiary of the Company, agreed to acquire the Interest from its joint
venture partners, Baiyan Sanxin Minerals Company Limited and Gansu Jiuzhou
Minerals Exploration Company Limited (together, the "JV Partners"). The
aggregate consideration paid to the JV Partners by the Company for the
Interest was US$602,000. Payment of the remaining outstanding amount of
US$555,000 was completed prior to March 31, 2009. The acquisition of the
Interest has been reviewed and approved by the TSX Venture Exchange.
    The acquisition of the Interest remains subject to certain Chinese
regulatory approvals. Upon receipt of all necessary Chinese regulatory
approval, the Company will have increased its aggregate interest in the
Project to 90%. The Project is a gold exploration property and, as previously
announced by the Company, recent drilling activities have suggested that
significant gold mineralization may exist at the Project. The acquisition of
the additional Interest will permit the Company to realize the full value of
the Project, either through production or through a sale of the Project. As
previously announced, the Company is pursuing a proposed business combination
with EurOmax Resources Ltd. and realizing the full value of the Project is a
strategic component of the proposed business combination.

    Certain information regarding the Company set forth in this press
release, including management's assessment of the Company's future plans and
operations contains forward looking statements that involve substantial known
and unknown risks and uncertainties. These forward looking statements are
subject to numerous risks and uncertainties, some of which are beyond the
Company's and management's control, including but not limited to, the impact
of general economic conditions, industry conditions, fluctuation of commodity
prices, fluctuation of foreign exchange rates, imperfection of reserve
estimates, environmental risks, industry competition, availability of
qualified personnel and management, stock market volatility, timely and cost
effective access to sufficient capital from internal and external sources. The
Company's actual results, performance or achievement could differ materially
from those expressed in or implied by, these forward looking statements and
accordingly, no assurance can be given that any of the events anticipated to
occur or transpire from the forward looking statements will provide any
benefits to the Company.





For further information:

For further information: David R. Bell, Chairman, at (416) 363-6040

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SILK ROAD RESOURCES LTD.

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