HONG KONG and BELLINGHAM, Wash., Aug. 23, 2011 (GLOBE NEWSWIRE) -- Asia Properties, Inc. ("API") (OTCQB:ASPZ) announced that its CEO, Daniel Mckinney and his team will attend the annual Philippine Chamber of Mines conference in Manila, Philippines from September 13-15th, 2011.
"This premier mining conference will serve to further our contacts and connections as we are negotiating and performing due diligence on a number of gold mining properties and claims in Philippines," said Mckinney, adding, " We are very excited by these opportunities and attracted by the modern mining laws as enacted in the Philippine Mining Act of 1995."
The Philippines' Mines and Geosciences Bureau (MGB) said on August 4, 2011, that 5 million hectares of potentially mineralized areas across the archipelago are now open to local and foreign investors. The country has extracted only a small portion of its estimated $1 trillion worth of mineral deposits, and the government intends to capitalize on higher mineral prices to boost its economy. Mining investment in the country is forecast to reach $1.4 billion this year, 40 percent above earlier estimates and the most since the sector was opened fully to foreigners in 2005.
"Our goal is to extend our business model of using Asian capital to also invest into Southeast Asia. API's mandate is to pursue the very best mining opportunities across the globe," stated Mckinney.
API is also negotiating and performing due diligence on several gold mining properties in Canada, USA, China, Mongolia and South America.
For further information: http://www.brecorder.com/business-a-finance/industries-a-sectors/22175-philippines-invite-new-investors-in-mining-
About Asia Properties, Inc.: is a Nevada corporation and trades on the OTCQB under the symbol "ASPZ". 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.