Vanguard Mining Corporation Reports Favorable Central Java Survey Results
24 7월 2014 - 3:57AM
Vanguard Mining Corporation (Pink Sheets:VNMC) today announced that
PT Raksasa Metal Agung, an Indonesian partner of the Company's, has
reported highly favorable results from its recent survey of the
prospective gold and copper mining area in Karang Tengah District,
Wonogiri Regency, Central Java Province, Indonesia, with copper
content of over 14%, silver at 17.50 ppm and gold 9.20 ppm.
PT Raksasa Metal Agung is in the process of securing the
required licensing and permitting from the appropriate governmental
agencies in order to begin operation and production at this
location. VNMC believes this joint venture project may be the first
one in Indonesia to generate revenues and cash flows for the
Company, though on a smaller scale compared to the potential of the
8,100-hectare gold concession PT Cendrawasih International in
Mandailing Natal, North Sumatra and other opportunities the Company
is currently also developing.
On another note, following the termination of the high calcium
carbonate project in Northern Central Vietnam and the realignment
of its portfolio holdings, VNMC reiterates its warning that
potential investors should not rely on historical financial
information that has been published by the Company heretofore to
make any investment decisions with respect to the Company's
securities.
The Company is currently focused on executing its exploration
and mining plans in Indonesia and will complete its financial
audits in order to file a registration statement to resume its
fully reporting status with the Securities and Exchange Commission
and upgrade the trading venue of the Company's stock. The Company's
common stock used to trade on the NASDAQ Stock Market and
Over-the-counter Bulletin Board in the past.
Agung Yudyasmara, President of PT Raksasa Metal Agung, said: "We
have a good knowledge of Wonogiri and we are very pleased with the
survey results. We are highly confident that the operation at this
location will bring immediate economic benefits for shareholders of
both companies."
Quang Le, VNMC's Executive Vice Chairman and Chief Geologist,
stated: "We are eager to launch this project with PT Raksasa while
developing large-scale concessions that can turn VNMC into a major
player in the near term." Quang added: "Besides the projects in
North Sumatra, the Company has been actively looking at other
opportunities elsewhere in conjunction with industry and financing
partners to continue building a portfolio of key mineral assets
that may represent very significant value for the Company's
shareholders and investors in the future."
About Vanguard Mining Corporation
Vanguard Mining Corporation, a Nevada corporation established in
1987, is currently building a portfolio of mineral assets in
Southeast Asia, including gold, copper, limestone, and manganese in
Indonesia. The company has also investigated mineral asset
opportunities in other geographical areas.
http://www.vnmcglobal.com
Safe Harbor: This news release contains
forward-looking statements that are subject to certain risks and
uncertainties that may cause actual results to differ materially
from those projected on the basis of such forward-looking
statements. Such forward-looking statements are made based upon
management's beliefs, as well as assumptions made by, and
information currently available to, management pursuant to the
"safe-harbor" provisions of the Private Securities Litigation
Reform Act of 1995.
CONTACT: Tony Nguyen, Executive Vice President
Vanguard Mining Corporation Corp.
702-605-4506
corpsec@vnmcglobal.com
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