CARSON CITY, Nev., April 26, 2010 (GLOBE NEWSWIRE) -- Denarii Resources Inc. (OTCBB:DNRR) (Berlin:8D3) (Frankfurt:8D3): Dennis Lorrig, the President and CEO of Denarii Resources Inc., is pleased to announce that the company is in the final stages of completing a professionally engineered detailed schedule to begin development of its joint-venture with Southern Energy Company Inc. for the Lota Bay Chile coal reclamation project.
In addition, management recently completed a proposal to obtain a private placement that will assist in expediting the time table. This will allow the engineers to compile their reports which can lead to an earlier production schedule.
These Private Placement funds will also be used to complete initial agreements to acquire a number of near or in production precious metal (Gold and Silver) and strategic metal (Palladium and Rhodium) properties located in North, Central and South America.
Mr. Lorrig stated, "We at Denarii are very excited about the company's opportunity to soon begin a cash flow operation in Chile. The resent increase in the price of coal makes the timing perfect. Our team of exploration geological advisers has identified a number of precious and strategic metal properties that look very favorable. This along with recent price increases of Gold, Silver, Platinum, Palladium and Rhodium make the future prospects for the company's growth very solid."
About Lota Bay Coal Concession
Previous owners of the initial Lota Bay Coal Concession completed extensive development work and calculated recoverable drilled reserves of 275,000 tonnes and a further estimated probable reserve of 90,000 tonnes.
About Denarii Resources, Inc.
Denarii Resources Inc. is in the mineral resource exploration and development business and currently owns a 100% interest in the McNab Molybdenum property located in South-West, British Columbia, Canada. Denarii has also entered into an agreement to acquire two coal concessions in Chile, South America. Denarii is continually moving forward with researching and acquiring multiple assets that it hopes will generate positive cash flow for Denarii. Denarii is presently reviewing a number of precious metal properties. These properties are near or in production Gold and Silver properties located in North, South and Latin America. Specifically included in the companies due diligence is a Gold property in South-East California and a Gold, Silver and Copper property in South America, as previously announced in other corporate news releases. Denarii was founded in 2006 and is based in Carson City, Nevada. For more information, please visit www.denariiglobal.com.
Forward-Looking Statements
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Denarii Resources, Inc. please refer to its website at www.denariiglobal.com