Aspire Provides Update With Respect to Acquisition of the Guilin Gold Concession in Southwestern China
March 22 2011 - 8:00AM
Aspire International Inc. (Pink Sheets:APIT) today announced that
pursuant to its Letter of Intent to acquire the Guilin Gold
concession located in the Guangxi Zhuang Autonomous Region of
southwestern China, the company is moving towards completion of the
transaction.
The South China Craton and its associated orogenic belts contain
some of the most important metallogenic provinces in China that
include world-class industrial, base and precious metal
deposits. Pursuant to its Letter of Intent, Aspire GuangXi
Inc., a subsidiary of Aspire International, has secured a majority
interest in, and is moving towards completing the acquisition of,
the Guilin Gold Deposit, a 3.95 sq. km. concession known to contain
a minimum of five zones of gold mineralization in an area
containing numerous mineralized zones, two of which are in
production.
According to recent due-diligence survey work commissioned by
Aspire, as well as prior extensive geological work by Chinese
government geologists and others, the primary deposit may contain
over one million metric tons of commercially mineable gold-bearing
ore, with considerable additional potential to further expand the
resource.
A more detailed mapping and drilling program is planned in a
first and second stage pre-production exploration program as a
follow up to the recent exploration program that yielded assay
sample results from the Guilin Gold concession ranging from 0.024
to 43.1 grams of gold per metric ton of ore.
CEO Bok Wong commented, "We are delighted to report that we are
nearing the finalization of this first of several planned
acquisitions in the precious metals arena that we have been working
on for some time. We believe it will complement our Manganese
mine production, providing a significant additional source of
revenue.
"We are confidently moving to completion of this acquisition on
behalf of Aspire, and expect to expand the resource in due course
as we further develop its full mining potential, which we believe
will contribute strongly to our future growth."
About Aspire International
Aspire International Inc., www.aspireinternationalinc.com, is a
Maryland corporation whose executive offices are in Toronto, Ont.
Canada. The company recently acquired and now operates a Hong
Kong-based international B2C shopping mall, "My Global Online Shop"
(Mygos) – a platform that enables anyone to start his or her own
business online. Mygos currently hosts over 80,000 active
stores.
Also, through its Chinese subsidiary, Aspire GuangXi Inc., a
Wholly Foreign Owned Enterprise (WFOE), it is engaged in the
acquisition, exploration and development of mineral properties in
the Guangxi Zhuang Autonomous Region of southwestern China,
prospective in particular for manganese and gold.
Aspire's principal manganese mining property covers an area of
21.3 square kilometers containing 7.4 million metric tons of ore
according to an NI 43-101 compliant report certified by a qualified
geologist with more than thirty years experience. The on-site
operations are led by a highly capable Chinese management team.
Cautionary Note About our Forward-Looking
Statements
All of our statements that contain other than purely historical
information, including estimates, projections, statements relating
to our business plans, objectives and expected operating results,
and the assumptions upon which those statements are based, are
"forward-looking statements" within the meaning of applicable
federal securities law. Forward-looking statements may
generally be identified by words such as "believe", "project",
"expect", "may", "estimate", "intend", "plan", "will",
"could", and similar expressions. The Private Securities
Litigation Reform Act of 1995 contains safe-harbor provisions for
forward-looking statements, and we intend that our forward-looking
statements be covered by those provisions.
Forward-looking statements are based on current expectations and
assumptions that are subject to risks and uncertainties, both known
and unknown, that may cause actual future results to differ
materially from those indicated in the forward-looking
statements. Our ability to predict future results of current
plans or strategies is inherently uncertain. Factors that
could have a material adverse affect on our future operations and
prospects include, but are not limited to: competition,
interest rates, changes in economic conditions, litigation,
political and regulatory changes, the cyclical nature of the mining
industry, technical issues inherent in the mining process, our
ability to attract and retain qualified personnel, the availability
of capital and a change in demand for minerals produced. These
risks and uncertainties should be considered when evaluating
forward-looking statements, and undue reliance should not be placed
on such statements.
We undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. More information concerning
our business, including additional factors that could materially
affect our financial results, may be found in our periodic filings
with the SEC (http://www.sec.gov).
CONTACT: Investor Relations
CenterPoint Communications Group, LLC
Todd Lorenze
386-775-2020 x 1
www.centerpointcg.com