POMPANO BEACH, Fla., March 28, 2005 (PRIMEZONE) -- Free-Market News Network, Corp. (FMNN) has teamed with sponsor East Delta Resources Corp. (OTCBB:EDLT) to spread the word about East Delta's success-oriented mining activities in China. FMNN is selective about its sponsors and has only recently generated a program to introduce certain companies to its expanding audience of hard-money-oriented investors and viewers.
As a result of its sponsorship with FMNN, East Delta will receive media coverage on FMNN's site, coverage of its activities on an ongoing basis and updates of important developments as necessary. Additionally, FMNN will support East Delta in positioning its own on-site information to best present its message.
East Delta's objective is to profit from the recent worldwide strong revival of interest in precious metals. Its primary activity is in gold exploration, development and production. The company also plans to participate in other mineral exploration and mining, specifically, nickel, zinc and lead. Among many other recent press releases, the company has announced the following:
In February of 2004, East Delta's wholly owned subsidiary, Amingo Resources Inc., signed a Joint Venture Contract with the provincial and county governments of Guizhou Province and Jinping County, respectively, to explore and mine gold within their territories. Under the terms of the agreement, Amingo has acquired rights to explore and develop a 72-square-kilometer property ("Bake") in the county.
In May of 2004, the Guizhou Provincial Industrial and Commercial Administrative Bureau approved the "Joint Venture" (JV) designated as Guizhou Amingo Resources Inc. (The Company has since satisfied all the JV conditions and has acquired the rights to this property.)
In August, EDLT released a report covering work done on Bake to date. The results of this work as verified by an independent Canadian geologist were made public. The report concludes that the data outlines a high-grade ore body with indicated gold resources of 1,020,448 ounces, (2.9925 million tonnes of ore with an average grade of 9.69 g/tonne Au). The exploration that formed the basis of these projections covered only 2% of the surface area of the property and was limited to 60 meters in depth. The cost of extraction has been estimated at less than US $175 per ounce.
The company plans to develop its business mostly through acquisitions and/or joint ventures with local participants, in which they will have substantial equity and management control. Priority will be given to the more advanced potential mining properties, where most of the exploration and pre-feasibility study work have already been completed or by the outright purchase of a majority interest in operating mines. The objective is to become the owner of producing mines in the shortest term possible. With profit potential adequately demonstrated and funding available, a new plant can be in production as quickly as twelve months.
FMNN: Through its media-rich Internet site at http://www.freemarketnews.com, FMNN offers innovative private solutions to public problems from top free-market thinkers around the world. The site is growing rapidly, month over month, and is sustaining a return viewership as well.
East Delta url: www.eastdelta.ca