MONTREAL, June 8, 2004 (PRIMEZONE) -- East Delta Resources Corp. (OTCBB:EDLT), formerly AVIC Technologies Ltd., announced today that it has retained the Southern California-based Investor Relations Network and its partner affiliates to help direct its financial public relations programs.
"As we execute our business plan, and continue our goal to build a worldwide presence, we felt this was a prudent time to begin sharing with investors at every level our goals for the future," said Victor Sun, President & CEO of East Delta Resources.
"We intend to grow this company rapidly, and to maximize the return for our shareholders. As part of that process, we have retained the Investor Relations Network and its partner companies to help to better position us within the investment community."
The Investor Relations Network is a full-service financial public relations partnership, with headquarters in Corona, California, and 12 additional partner offices in key cities such as Irvine, Los Angeles, Philadelphia and New York. It provides financial public relations programs for both publicly traded and pre-IPO firms on a global basis.
"We are pleased and proud to be working with East Delta Resources," said the Investor Relations Network's president, Tom Gavin. "The company's plan to become a leading producer of precious metals through its very valuable China properties suggests to us that its future is extremely promising."
East Delta Resources announced last week that it has successfully completed a first round private equity placement of $500,000, with the funds expected to provide sufficient operating capital for the next 12 months. It said this would permit the company to begin its much-anticipated exploration and drilling program on its Bake Gold Project property in Guizhou Province, China, through its Chinese Joint Venture company, Guizhou Amingo Resources Inc.
The 72 square kilometer Bake property is located 350 kilometers by road northeast of the provincial capital, Guiyang. The project is adjacent to the producing Jinloon Gold Mine, which is not part of the Bake Gold Project, but currently has a 170-ton per day underground operation. According to Chinese government calculations, Jinloon contains total reserves of 6.3 million ounces of gold, with a current average production grade of 6.5 grams gold per gross ton (or 0.232 ounces/ton).
The company said it anticipates being able to report on the preliminary results of its Bake property work before the end of 2004.
Safe Harbor
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.