HONG KONG and BELLINGHAM, Wash., July 19, 2011 (GLOBE NEWSWIRE) -- Asia Properties, Inc. (API) (OTCQB:ASPZ) today announced the acquisition of 16 gold claims located in the province of Quebec, Canada.
API has acquired Banroy Resources, an Ontario partnership, which owns the 16 claims located in La Pause Township, Abitibi, in Quebec, Canada for 500,000 restricted ASPZ common shares and $10,000.
Daniel McKinney, CEO of API, commented; "The board decided to make this change in business into the gold mining and resources sector over numerous Asian based real estate opportunities. Our management team and consultants have extensive experience and success in this sector and we plan an aggressive roll up of gold mining properties. API plans to deploy Asian based capital to develop and acquire mines in North America and other favorable mining jurisdictions."
About Quebec: With 27 mines in operation in July 2010, Québec is a major producer of iron, zinc, nickel, silver and gold, and also of copper and of industrial minerals. The Québec Government actively supports the mining industry by offering a large number of tax incentives for firms that engage in exploration and mining activities in Québec. In 2009, for the third consecutive year, Québec earned international recognition for the excellence of its mining sector, when Vancouver's Fraser Institute ranked the province first in the world for its favorable mining environment, based mainly on its mining policies and mineral potential.
About Asia Properties, Inc.: is a Nevada corporation and trades on the OTCQB under the symbol "ASPZ." There are currently 35,474,362 fully diluted shares consisting of 11,965,626 restricted and 23,508,736 free trading. The transfer agent is Transfer Online, Inc. of Portland, Oregon. Please visit our website: www.asiaprop.com
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This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.