BEIJING, Nov. 17, 2011 /PRNewswire-Asia-FirstCall/ --
China Shen Zhou Mining & Resources, Inc. (NYSE
AMEX: SHZ), ("China Shen Zhou" or
the "Company"), a Company engaged in the exploration, development,
mining and processing of fluorite, zinc, lead, copper, and other
nonferrous metals in China, today
announced that it has contracted SRK Consulting China Ltd. (SRK) to
initiate an independent assessment of the current status and
prospective future production of the Xinyi Number 1 Mine of
Qingzheng mine of the Xinyi Fluorite Company, Ltd. ("Xinyi"), based
in Jingde County, Anhui Province,
and the Keyinbulake zinc-copper mine of Xingzhen Mining Co., Ltd.,
located in Xinjiang Buerjin County. A Joint Ore Reserves Committee
(JORC) compliant technical report will be generated containing an
estimate of mineral resources and ore reserve specifications to
meet the disclosure requirements of publicly listed companies.
SRK will visit the exploration sites of mines involved; design
and review the relevant analysis procedures and select the sample
used for field analysis. SRK will then manage on-site project
quality, supervise weekly exploration progress and confirm that
proper procedures are followed to ensure quality control of the
final sample. SRK will provide a JORC-compliant asset
assessment report of mineral resource estimation and ore reserve
conversion, since China Shen Zhou
provides the required materials and support. SRK has agreed to
complete the first draft of the report in the first half of
2012.
Ms. Xiaojing Yu, CEO of China Shen Zhou, commented, "Following
successful completion of SRK's reports on some of our other assets,
we felt that commissioning these reports would help investors
better understand the true underlying value of our company,
especially of those assets that were acquired earlier this
year."
The JORC Code has been adopted by The Australasian Institute of
Mining and Metallurgy ('The AusIMM') and the Australian Institute
of Geoscientists ('AIG') and is therefore binding on members of
those organizations. It is endorsed by the Minerals Council of
Australia, and the Securities
Institute of Australia as a
contribution to the industry's good practice. The JORC Code has
also been adopted by and included in the listing rules of the Hong
Kong Exchanges and Clearing Limited (HKEx). It is an 'acceptable
foreign code' of the National Instrument 43-101 Standards of
Disclosure for Mineral Projects (NI43-101) 2011 edition.
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its
subsidiaries, is engaged in the exploration, development, mining,
and processing of fluorite and nonferrous metals such as zinc, lead
and copper in China. The Company
has the following principal areas of interest in China: (a) fluorite extraction and processing
in the Sumochaganaobao region of Inner Mongolia; (b) fluorite
extraction and processing in Jingde County, Anhui Province; (c)zinc/copper/lead processing
in Wulatehouqi of Inner Mongolia; and (d) zinc/copper exploration,
mining and processing in Xinjiang.
For more information, please visit http://www.chinaszmg.com/
Safe Harbor Statement
This press release may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. Forward-looking statements can be identified by the use
of forward-looking terminology such as "will", "believes",
"expects" or similar expressions. These forward-looking statements
may also include statements about our proposed discussions related
to our business or growth strategy, which is subject to change.
Such information is based upon expectations of our management that
were reasonable when made but may prove to be incorrect. All of
such assumptions are inherently subject to uncertainties and
contingencies beyond our control and upon assumptions with respect
to future business decisions, which are subject to change. We do
not undertake to update the forward-looking statements contained in
this press release. For a description of the risks and
uncertainties that may cause actual results to differ from the
forward-looking statements contained in this press release, see our
most recent Annual Report filed with the Securities and Exchange
Commission (SEC) on Form 10-K, and our subsequent SEC filings.
Copies of filings made with the SEC are available through the SEC's
electronic data gathering analysis retrieval system (EDGAR) at
http://www.sec.gov .
Contact Information
Kevin Theiss/Min Liu
Tel +1 (646) 284-9400
kevin.theiss@grayling.com
min.liu@grayling.com
SOURCE China Shen Zhou Mining & Resources, Inc.