PRZOOM - /newswire/ -
New York, NY, United States, 2010/12/10 - The announcement reflects the government's strong endorsement of the project; the company plans an enlarged work program to harvest potential gold-bearing veins - StrategicMiningCorp.com. PINK SHEETS: SMNG
Strategic Mining Corporation (SMNG) today announced that the Company's exploration license for its recently acquired Nat Son gold property has been expanded to more than double its original size.
The license expansion was granted by the People's Committee of Hoa Binh Province based on geology reports indicating the presence of gold and silver bearing quartz-arsenopyrite veins exposed at surface and within underground mine workings. The veins have been examined and studied over a strike length of four kilometers.
"This is important news for our company because it enables us to implement an enlarged work program to extract the potential gold resources contained on the Nat Son property," said Strategic Mining President Todd Sterck. "We're also extremely pleased with the decision in that it is a further demonstration of the provincial government's strong endorsement and support for our development of Nat Son and also for our plans to acquire and develop other mining properties in the province."
In addition to expanding the mining exploration license at Nat Son, the provincial government has:
• Built access roads to the property, installed water and power services and constructed on-site worker accommodations.
• Granted Strategic Mining special "no tax status" for all imported mining equipment.
• Appointed full-time staff to assist in the importation of the mining equipment.
• Committed to facilitating Strategic Mining's fulfillment of all provincial mining requirements as it moves forward with its development of the property.
• The original mining license for Nat Son covered a 98-acre section of the property, while the new license grants Strategic Mining the right to develop a much larger 245-acre section.
Nat Son is located about 50 kilometers south west of Hanoi in the center of the gold-rich Kim Boi deposit.
About Strategic Mining Corporation (SMNG)
Strategic Mining Corporation (strategicminingcorp.com) is engaged in the exploration and development of gold properties in Viet Nam, the U.S. and Africa. The company intends to expand by acquiring mineral rights to key properties and initiating strategic joint ventures. As previously stated in company press releases, Strategic Mining is in the process of filing to move to the OTCBB.
No assurance can be given that past or similar results of precious metal mining will be indicative of future results. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding of discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intent to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financing and other risks in the company's SEC reports and filings.