BEIJING, June 20, 2012 /PRNewswire-Asia-FirstCall/ --
China Shen Zhou Mining & Resources, Inc. ("China Shen Zhou" or the "Company") (NYSE AMEX:
SHZ), a Company engaged in the exploration, development, mining and
processing of fluorite, barite, zinc, copper, and other nonferrous
metals in China, today announced
that SRK Consulting China Ltd. ("SRK") has completed its sampling
verification for Xinyi Fluorite Company Ltd. ("Xinyi"), a
subsidiary of the Company based in Jingde County, Anhui Province.
SRK completed additional drilling and collected more technical
datasets on Xinyi's fluorite reserves in May
2012. Subsequently, SRK commissioned Hefei Mineral Resources
Supervision and Inspection Center, an affiliate of the Ministry of
Land and Resources of the People's
Republic of China, to inspect the fluorite samples.
Based on results from the inspection report, management believes
that the length and width of Xinyi's fluorite ore deposits are
larger, and the ore grade is better than previously expected. Among
the inspected fluorite samples, the highest CaF2 content reached
98.37%.
SRK will build a quantitative model reflecting the data
generated from the inspection report to assess the fluorite ore
resources of Xinyi. It is expected that SRK will provide a complete
and JORC-compliant technical report on Xinyi's reserves by the end
of 2012.
About JORC Code
The JORC Code has been adopted by The Australasian Institute of
Mining and Metallurgy ("The AusIMM") and the Australian Institute
of Geoscientists ("AIG") and is therefore binding on members of
those organizations. It is endorsed by the Minerals Council of
Australia, and the Securities
Institute of Australia as a
contribution to good practice. The JORC Code has also been adopted
by and included in the listing rules of the Hong Kong Exchanges and
Clearing Limited (HKEx). It is an 'acceptable foreign code' of
National Instrument 43-101 Standards of Disclosure for Mineral
Projects (NI43-101) 2011 edition.
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its
subsidiaries, is engaged in the exploration, development, mining,
and processing of fluorite, barite and nonferrous metals such as
zinc, lead and copper in China.
The Company has the following principal areas of interest in
China: (a) fluorite extraction and
processing in the Sumochaganaobao region of Inner Mongolia; (b)
fluorite and barite extraction and processing in the Wuchuan County
of Guizhou province (c) fluorite
and barite extraction and processing in the Yanhe County of Guizhou
province; (d) fluorite extraction and processing in Jingde County,
Anhui Province; (e) zinc/copper/lead processing in Wulatehouqi of
Inner Mongolia; and (f) zinc/copper exploration, mining and
processing in Xinjiang. For more information, please visit
http://www.chinaszmg.com/.
Safe Harbor Statement
This press release may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. Forward-looking statements can be identified by the use
of forward-looking terminology such as "will", "believes",
"expects" or similar expressions. These forward-looking statements
may also include statements about our proposed discussions related
to our business or growth strategy, which is subject to change.
Such information is based upon expectations of our management that
were reasonable when made but may prove to be incorrect. All of
such assumptions are inherently subject to uncertainties and
contingencies beyond our control and upon assumptions with respect
to future business decisions, which are subject to change. We do
not undertake to update the forward-looking statements contained in
this press release. For a description of the risks and
uncertainties that may cause actual results to differ from the
forward-looking statements contained in this press release, see our
most recent Annual Report filed with the Securities and Exchange
Commission (SEC) on Form 10-K, and our subsequent SEC filings.
Copies of filings made with the SEC are available through the SEC's
electronic data gathering analysis retrieval system (EDGAR) at
http://www.sec.gov.
Contact Information
Min
Liu
Investor Relations
Grayling
Tel: +86-186-6537-8749
min.liu@grayling.com
Shiwei Yin
Grayling
Tel:
+1-646-284-9474
shiwei.yin@grayling.com
SOURCE China Shen Zhou Mining & Resources, Inc.