TORONTO, Nov. 17 /CNW/ - Gold World Resources Inc. (GDW-TSX Venture) (the "Company") Hermann Derbuch returned just recently from a mine visit to China, undertaken as a follow-up to acquisition negotiations. Mr. Derbuch noted that the gold environment in China is changing and recently large companies (many times without any relationship to gold mining) have been buying gold resources, developed or in the ground, as an investment rather than holding cash.
The Company is fortunate to have received offers for acquisition or joint venture from a number of private owners of gold producing mines.
Currently, three mines are targeted for a commercial transaction. They comprise an open-pit heap-leach operation, a shallow dipping vein-type operation and a steeply dipping vein-type operation. All three have excellent resource and gold recovery upside potential, very good infrastructure and have been selected by the Company for acquisition negotiations.
As significant milestones in the negotiations with the private owners are reached, the Company will report it to shareholders.
The first-stage internal due diligence, carried out by Cunyou Li the Company's Exploration supervisor, has been completed on all three properties and the decision has been made to proceed with a pre-purchase due diligence review to be carried out by SRK Consulting China ("SRK"). SRK has already provided the Company a proposed work plan for one of the properties.
The Company is very pleased with SRK's execution of previously prepared technical reviews. SRK prepared one NI43-101 Technical Report (see website www.goldworldresources.com) and two Due Diligence Reviews on the Company's project portfolio.
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