BOLV Bolivar Mining Corp (CE)

Bolivar Mining (Pink Sheets:BOLV) announced previously that it was examining potential joint venture mining operations in Southern China. The Company has recently secured a 40% interest in the currently-producing Red Dragon 1 gold mine for $500,000 USD. �We are pleased to announce that we have secured a 40% interest in the gold producing mine,� stated Bolivar Mining Corp�s CEO and President, Arshad Shah. �This event represents a significant milestone in the development of our operations in China.� �Current mining methods at the Red Dragon mines can be traced to the Han Dynasty, many centuries ago. I visited these sites in November 2007, and concluded that the potential output, through the implementation of modern mining methods would increase many times over. The recent investment of more than $1 million in modern technology and equipment should substantially increase production at Red Dragon 1 from approximately $3,000 per day in revenues to approximately $17,000 per day based on current gold prices. Red Dragon 1 is one of four mine sites that comprise the Red Dragon Mining Property in and around Jinzhuang China. Jinzhuang is close to Guangzhou, the capital of Guandong Province and is easily accessible by modern highways. Red Dragon 1 is currently generating revenues of approximately $3,000 per day through gold mining methods that are crude by today�s standards. Bolivar has already implemented modernization operations to increase gold production at Red Dragon 1, as a managing partner. Bolivar believes the introduction and implementation of modern mining equipment and techniques will result in production increases exceeding five-times current production. Further investigation and due diligence of the property and surrounding region are being conducted by Bolivar�s experienced team of engineers, geologists, and mineralogists. About Bolivar Mining Corp.: Bolivar Mining Corp, is an exploration and mining company seeking global mining prospects in over five countries on three continents. By implementing efficient operations and engineering excellence, BMC will have opportunities to operate in areas where larger mining companies cannot operate profitably, thus creating an opportunity to extract and sell precious minerals to the global market. For more information, visit our website at www.bolivarmining.com. Forward Looking Statement: Information in this release may constitute forward-looking statements within the Private Securities Litigation Reform Act. BMC can give no assurance that its expectations will be achieved. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, including the mineral prices, costs of operations, delays, acquisition of additional mineral reserves, maintaining lease rights, continued maintenance of mining operations, price of minerals, government regulation, competition, and general economic conditions. BMC assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Readers are cautioned not to place undue reliance on these forward-looking statements.