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Silver Dragon Resources Inc. Signs Strategic Cooperation Agreement With North China Geological Exploration Bureau

Posted on: Tuesday, 4 April 2006, 09:01 CDT

Silver Dragon Resources Inc. (OTCBB:SDRG) today announced the signing of a Strategic Cooperation Agreement with the Exploration Unit of North China Geological Exploration Bureau (EUNCGEB) in the People's Republic of China.

The EUNCGEB has access to mine assets in various locations in China. The 5-year Agreement provides that prospective mining properties identified by the EUNCGEB will be referred exclusively to Silver Dragon. In the event that Silver Dragon chooses to acquire, develop or exploit any mining opportunities referred by the EUNCGEB, Silver Dragon and EUNCGEB will work towards a mutually acceptable working agreement with respect to the purchase and/or development of the mining property. The EUNCGEB will provide technical, geological and other documentation as may be requested by Silver Dragon as part of its due diligence investigation of prospective properties.

"We have committed to introduce Silver Dragon to mining projects that present potentially significant opportunities, which will assist Silver Dragon in expanding its asset base in China," commented Liang Li Ming, Deputy General Manager and Senior Engineer of the Exploration Unit of North China Geological Exploration Bureau. "Silver Dragon's relationships in China and its intentions of developing mining interests directly or through joint ventures make Silver Dragon an excellent strategic partner."

"This is a major achievement for Silver Dragon, not only for the opportunities that may be presented, but also for the recognition of Silver Dragon's efforts and investments, lending it notable credibility in China," commented Marc Hazout, President and Chief Executive Officer of Silver Dragon. "This Strategic Cooperation Agreement with EUNCGEB reinforces our belief that our intentions in China will lead to success and further cooperation from additional strategic partners. We are now investigating three silver properties in Yunnan, Sichuan and Hebei provinces for possible acquisitions."

Silver Dragon Resources Inc. is a mining and metal company focused on the exploration, acquisition, development and operation of silver mines in proven silver districts globally. Silver Dragon's objective is to acquire silver mining assets that contain promising exploration targets, have highly-leveraged, out-of-the-money silver deposits, and/or are producing properties with significant untapped exploration potential. For more information, please visit www.silverdragonresources.com.

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.

Source: Business Wire

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