China Mining News - China Shouguan Mining Expanding Gold Mines
Online, December 3, 2013 (Newswire.com) - China Shouguan Mining Corporation (OTCBB: CHSO) said that it is planning to expand its gold mining operations in China. This will include further developing their existing gold mines and acquiring new underperforming mines plus potential exploration operations in China's three major mineral rich zones.
The Company already has two successful gold mine and mineral development operations in Shandong Province, one of the China's largest and richest gold zones. By 2014, China Shouguan will also have operations in Daxinanling, which has huge potential in gold zones and may become one of the country's major gold zones in the future.
These new mines were part of the recent Memorandum of Understanding (MOU) signed with the Daxinanling Government to jointly establish and operate a gold mine operation company. China Shouguan is the first mining company to sign such an MOU with the Government.
While other Chinese companies are having to close or cut back foreign operations, as has happened in Africa and Peru, China Shouguan is benefiting from this return of capital and investor focus. The acquisition of additional mines is part of the Company's plan to uplift to NASDAQ by 2015.
Feize Zhang, CEO, said, "While the Company is proud that it was the first Chinese gold mining operation to be listed on a U.S. exchange, we don't want to rest on the past. Our future is continued growth and everyone in the Company is committed to success. My personal goal is to make our shareholders and our staff proud of our accomplishments."
About China Shouguan Mining Corporation
China Shouguan Mining Corporation is a highly efficient gold mining exploration and development Company operating in the gold rich zone of Shandong Province, China. The Company acquires or leases underperforming mines in major gold zones and funds their expanded exploration and production utilizing industry-leading technologies.
Contact:
China Shouguan Mining Corporation
Terry Tsao, Director of Investor Relations
info@chinashouguan.com
www.chinashouguan.com
Safe Harbor Statement This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
