TORONTO, Aug. 7 /CNW/ - Gold World Resources Inc. (GDW-TSX Venture) (the
"Company") is pleased to report that SRK Consulting China ("SRK") has
completed the field work portion of the due diligence investigation the
Company is currently carrying out on properties owned by the Kun Peng Mining
Company ("Kunpeng") and the Jiguanshan Mining Company ("Jiguanshan"), both
located in Inner Mongolia, China (see press release of July 16, 2008).
Mr. Cunyou Li, the Company's Exploration Supervisor, coordinated SRK's
site visit to the Kunpeng and Jiguanshan properties. SRK provided a highly
qualified team for the site investigation comprised of Dr. Anson Xu, whose
specialty is exploration of mineral deposits, Mr. Wang, a Senior Consultant in
Geology and Mr. Huang, a Senior Consultant in Mining.
The Kunpeng and Jiguanshan mines are located in the same mineralized
geological belt which hosts a large number of gold deposits.
Kunpeng owns two mining licenses and two exploration permits. It operates
three mines and one processing plant. The current production rate is
100 tonnes of gold ore per day. Production and milling capacity are planned to
be expanded to 250 t/day.
Jiguanshan owns two and one-half mining licenses. It operates the
Yingmachu Mine, accessible by shaft to a depth of 350 meters, the Badaba Mine,
built on one-half a mining license, the Shitiaogou Mine which is under
development, and one processing plant. Jiguanshan currently operates a
processing plant with a capacity of 100 t/day, which they plan to replace by
year end with a new 250 t/day capacity plant.
The SRK project team is currently preparing the Due Diligence Reports
including an assessment of the upside potential of each of the two mines.
Positive assessments followed by commercial transactions, have the potential
in the Company becoming an immediate gold producer.
About Gold World Resources Inc.:
The Company is exploring for precious metals in China and has signed a
Joint Venture Contract to establish a Sino-Foreign Contractual Joint Venture
Company for the exploration and development of the Ming Gold/Silver Project,
Hebei, China. More recently, the Company has signed a Letter of Intent with
Kun Peng Mining Company and accepted the invitation by Jiguanshan Mining
Company, both located in Inner Mongolia, China, to provide the Company the
opportunity to complete due diligence with the purpose to enter into
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