Asian Dragon Group Wins Negotiations for Final Major China Silver/Lead Project, ''Luoning Xiayu Xiaowagou Mine'', Making Asian Dragon Dominant Player in Region

    LUOYANG, CHINA, October 3 /CNW/ - Asian Dragon Group Inc., (OTCBB:AADG)
(Frankfurt:P2J1) (WKN:A0KE7Z) today announced its successful negotiations in
the acquisition of a 70% interest of the China Xiaowagou ("XWG") Mine, through
its partner, Fuding Mining Development Limited, a China Base Metal Development
Company. This property, eagerly sought after by major international and local
metals players, consists of a Silver-Lead Property, holding a current 2.13 km2
Exploration Permit.

    The XWG Property is located in the area of Xiayu and adjacent to the TSX
listed Silvercorp Metals Inc.'s Ying Silver Project, within 3 km of their
world class HPG Silver-Lead Mine and 6 km southwest of the SGX Silver-Lead

    President and Chairman John Karlsson commented on the successful
negotiation, "This deal solidifies Asian Dragon's position as a world class
player in the global precious metals market. We anticipate significant results
to stem from further development of this key acquisition."

    This deal follows Asian Dragon's business model of "High Value" property
acquisitions enabling Asian Dragon to continue its property gain while
generating significant asset value per share for investors.

    The Xiayu region of Luoning County in the Henan Province of China
exhibits prolific Silver-Lead mineralization that is comparable to the mineral
deposit types similar to the mesothermal veins of the Coeur d'Alene District
in Idaho, U.S.A., where more than 1 billion ounces of silver have been mined
in the past 120 years.

    About Asian Dragon

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

    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: Max
Sioson, 604-338-6281

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890