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Silver Dragon Resources Inc. Signs Agreement With Cistex Global Investment Inc.

Posted on: Tuesday, 30 May 2006, 09:00 CDT

Silver Dragon Resources Inc. (OTCBB: SDRG) today announced the signing of an agreement with Cistex Global Investment Inc. to act as its investment consultant and adviser in connection with Silver Dragon's business activities and related matters in the People's Republic of China ("China" or "PRC").

The scope of work to be conducted by Cistex Global will include representing and advising Silver Dragon on its business activities and other related matters in China including (a) conducting due diligence with respect to potential target companies and cooperative Chinese partners; (b) providing related advice on procedures involved with merger and or acquisition targets; (c) assisting in drafting, reviewing, commenting on and negotiating any related agreements/documents; and (d) providing ongoing PRC regulatory advice with respect to Silver Dragon's investments and business in China.

"We are pleased to have signed this Agreement with Silver Dragon Resources," commented Howard Lai, President of Cistex Global. "We believe this is an exciting opportunity for Silver Dragon at a time when silver assets in China, along with strategic relationships, are extremely valuable. Cistex Global will provide the required involvement to assist Silver Dragon in China both financially and strategically."

"We are optimistic that Silver Dragon's aggressive plan in China to develop its portfolio of silver mining interests will benefit from Cistex Global's relationships and funding capabilities," commented Marc Hazout, President and Chief Executive Officer of Silver Dragon. "Our immediate objective is to focus on development plans for the existing properties and the Erbaohuo Silver Mine. Our office in Beijing will review all opportunities presented to us by our strategic partners with the objective to begin monetizing our assets in China and maximizing shareholder value."

Cistex Global Investment Inc. is a premier, full-service venture capital, mergers and acquisitions and consulting firm with recognized energy, mining, foreign direct investment, M&A, and finance departments. For more information, please visit www.cistex.net.

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.

 Contact: Silver Dragon Resources Inc. Marc Hazout (416) 661-4989 info@silverdragonresources.com

SOURCE: Silver Dragon Resources Inc.

Source: MARKET WIRE

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