SHANDONG, China, Jan. 19,
2012 /PRNewswire-Asia-FirstCall/ -- Gulf Resources, Inc.
(Nasdaq: GURE) ("Gulf Resources" or the "Company"), a leading
manufacturer of bromine, crude salt and specialty chemical products
in China, today announced that the
Company has discovered underground brine water resources in Daying
County, Sichuan Province, after
more than a half year of drilling, and it has provided preliminary
concentration results after the testing by a third-party
independent testing expert, Centre Testing International
Corporation ("Centre Testing").
According to the third-party independent testing report, the
bromine concentration in the underground brine water resources is
1.53 grams per liter, which is approximately six to seven times
higher than the average bromine concentration from its brine water
resources at the Company's bromine factories in Shouguang City,
Shandong Province. Brine is
used for bromine and crude salt extraction and the Company expects
to continue drilling in order to further determine the total brine
water resources reserve and exploitable amount in the area.
"We are pleased to discover high bromine concentration in the
sample underground brine water resources," stated Xiaobin Liu, Chief Executive Officer of Gulf
Resources "We plan to continue to cooperate with Daying County and
further explore this resource area, which is consistent with the
Company's long-term growth strategy to access more bromine and
crude salt resources."
The testing results from the third-party independent testing
corporation and its translation can be found in the Company's 8-K
which is expected to be filed with the U.S. Securities and Exchange
Commission on January 19, 2012.
About Centre Testing International Corporation
("Centre
Testing")
CENTRE TESTING INTERNATIONAL (CTI) is a nationwide comprehensive
independent testing service agency.
CTI is mainly engaged in testing services in the fields of
industrial materials, consumer goods, life sciences, and trade
products. At present, CTI has approximately 30 branches in
China and carries out business
through the branches network. It also owns 30 experiment
laboratories specialized in the areas of chemistry, biology,
physics, mechanics, and electromagnet. It also obtained the CMA
measurement authentication and the qualifications for laboratories
and inspection agencies granted by the CNAS state assessment
committee. Moreover, CTI's management was conducted in compliance
with ISO17025 and ISO17020.
CTI is qualified for and capable of issuing accurate testing
data, and its inspection reports are highly recognized
international wise. It has received recognitions from a total of 42
countries and regions, including the
United States, the United
Kingdom, Germany,
France, Italy, Japan,
South Korea, Taiwan and Hong
Kong.
Through a scientific research and development system, advanced
testing facilities, and sound and efficient services, CTI is
dedicated to become the most trustworthy technical testing services
agency in China by providing
integrated technical service platform to better aid the Chinese
manufacturing product innovation and upgrade as well as the
quality, safety, environmental protection and energy conservation
of products in outer region.
For detail, please kindly refer to CTI's website:
http://www.cti-cert.com/.
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through two wholly-owned
subsidiaries, Shouguang City Haoyuan Chemical Company Limited
("SCHC") and Shouguang Yuxin Chemical Industry Co., Limited
("SYCI"). The Company believes that it is one of the largest
producers of bromine in China.
Elemental Bromine is used to manufacture a wide variety of
compounds utilized in industry and agriculture. Through SYCI, the
Company manufactures chemical products utilized in a variety of
applications, including oil & gas field explorations and as
papermaking chemical agents. For more information about the
Company, please visit http://www.gulfresourcesinc.com.
Forward-Looking Statements
Certain statements in this news release contain
forward-looking information about Gulf Resources and its
subsidiaries business and products within the meaning of Rule 175
under the Securities Act of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934, and are subject to the safe harbor created by
those rules. The actual results may differ materially depending on
a number of risk factors including, but not limited to, the general
economic and business conditions in the PRC, future product
development and production capabilities, shipments to end
customers, market acceptance of new and existing products,
additional competition from existing and new competitors for
bromine and other oilfield and power production chemicals, changes
in technology, the ability to make future bromine asset purchases,
and various other factors beyond its control. All forward-looking
statements are expressly qualified in their entirety by this
Cautionary Statement and the risks factors detailed in the
Company's reports filed with the Securities and
Exchange Commission. Gulf Resources undertakes no duty to revise or
update any forward-looking statements to reflect events or
circumstances after the date of this release.
Gulf Resources,
Inc.
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CCG Investor Relations
Inc.
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Helen Xu
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David Rudnick, Account
Manager
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Email: beishengrong@vip.163.com
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Phone:
+1-646-626-4172
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Web: http://www.gulfresourcesinc.com
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Email: david.rudnick@ccgir.com
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Crocker Coulson,
President
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Phone:
+1-646-213-1915
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Email:
crocker.coulson@ccgir.com
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Web: http://www.ccgirasia.com
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SOURCE Gulf Resources, Inc.