Silver Dragon Resources Inc (OTC:SDRG) Terminates Agreement to Sell Erbahuo

Rochester, New York 1/05/2010 12:20 AM GMT (TransWorldNews)

Silver Dragon Resources, Inc. (OTC:SDRG) has announced its decision to terminate its previously announced agreement to sell 70% of its equity interest in the Erbahuo polymetallic project in China.The company is also terminating its intent to sell its 70% ownership of the Chinese Subsidiary, Chifeng Silver Dragon Resources and Technologies Ltd.Silver Dragon will instead pursue and implement an alternative strategic plan.

Silver Dragon is focused on the focused on the acquisition, exploration, development, and operation of silver mines in China and Mexico.The company’s objective is to acquire silver mining assets in promising exploration targets and producing properties with untapped exploration potential.Its current properties include the Cerro las Minitas in Mexico and the nine Erbahuo properties in China.