GUANG NING, China, May 19, 2006 (PRIMEZONE) -- China Gold Corp. (Pink Sheets:CGDC), a Nevada Corporation engaged in the gold and minerals exploration and the development of gold and mineral properties in China, is pleased to announce they have entered into negotiations with Zhong Cui Investments LTD. for the acquisition of Gold Mine property in the rural mountainous Guang Ning District near Zhao Qing City, Guangdong Province of China.
China Gold Corp. is currently evaluating the Gold Mine property preliminary geological information and the property. If the company's due diligence produces favorable results, management is expected to sign the letter of intent with Zhong Cui Investments LTD. in the next thirty (30) days. The Letter of Intent requires both parties to draft a definitive agreement and terms of any subsequent joint venture. Property description and all additional information will be available upon finalization of the agreement. The company will be made further announcements in this regard in coming weeks.
ABOUT THE COMPANY
China Gold Corp. is a Nevada Corporation, engaged gold and minerals exploration and development of gold and mineral properties in China. China Gold Corp. is dedicated to delivering growth to the shareholder by employing a disciplined business methodology through acquisitions and joint ventures. The Company seeks to acquire properties with the following development criteria: largely unexplored but highly prospective geological regions, ability to generate near-term revenue and cash flow, tremendous geological potential for world-class economic deposits.
Safe Harbor Statement:
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to price volatility of gold and other metals; currency fluctuations; political, operational, and governmental approval and regulation risks in China.