SAN DIEGO, Dec. 17, 2012 (GLOBE NEWSWIRE) -- Earth Dragon Resources, Inc. (OTC:EARH) and its wholly-owned subsidiary, Project X, Inc. (PJTX), along with our joint venture partner, Deep Marine Salvage, Inc. (DMS), have completed the final survey of our two primary salvage targets.
Survey operations were performed from the Grand Canyon Offshore Support Vessel: a 416 foot state of the art ship equipped with the latest multi-beam sonar technology and work class remote operated vehicles (ROV).
The survey results include detailed multi-beam imagery and post processed 3 dimensional models of each wreck; detailed photography and video of were taken from an ROV. During ROV inspection of each wreck an assortment of artifacts were also recovered and are now undergoing preservation.
The Joint Venture currently has permits from the British Government for three shipwrecks. Research indicates two of them were carrying gold while the third contains a cargo of silver. Due to time constraints and a closing good weather window only the two ships containing gold could be surveyed in the time available. Further work on the third wreck containing silver is scheduled for the spring of 2013.
Mike Johnson, CEO of Earth Dragon Resources, Inc., states, "The survey information is important for final salvage planning; I'm pleased we were able to have a period of good weather during the winter months to get this done before scheduled recovery operations in the spring of 2013."
Imagery and other survey information will be made available in the near future on the company website at www.earhweb.com.
About Earth Dragon Resources, Inc: Earth Dragon Resources, Inc. identifies opportunities globally in the recovery of precious metals on both land and sea. Earth Dragon Resources, Inc. primary focus is to identify, perform due diligence, structure and fund opportunities that have potential to enhance shareholder value. Earth Dragon Resources, Inc. wholly owned subsidiary, Project X, Inc., is the marine salvage division. Project X, Inc. at is in the planning and financing stage of recovering 3 WW1 wrecks that research shows contain gold and other precious metals.
Forward-looking Statements: Statements about our future expectations are "forward-looking statements", which are not guarantees of future performance. When used herein, the words "may," "will," "should," "anticipate," "believe," "appear," "intend," "plan," "expect," "estimate," "approximate," "potential" and similar expressions are intended to identify such forward-looking statements. These statements involve risks and uncertainties inherent in our business, including those set forth in our filings with the Securities and Exchange Commission (SEC), and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.