Asia Now Sets High Priority Targets for 2009
Mon Apr 20, 2:56 PM
ca.news.finance.yahoo.com
TORONTO, ONTARIO--(Marketwire - April 20, 2009) - Asia Now Resources Corp. (TSX VENTURE: NOW.V) announces that the Company has written off its less promising Great Wall project in Hebei Province China, to focus its resources on its Beiya gold and Habo copper/gold/molybdenum projects in Yunnan Province of China where recent results allow the Company to test specific zones of mineralization.
The exploration work completed to date produced only weak anomalies in the Great Wall project, so the Company has decided to abandon this project and concentrate its exploration efforts on their high priority projects which have far greater potential. Accordingly, the Company will be writing off deferred exploration expenditures of $691,387 during Q4/08.
Dr. Noel White, Chief Technical Advisor to the Company said, "One of the hardest parts of exploration is deciding to drop ground. Faced with slow, technically difficult and expensive ongoing work on the Great Wall project, we have made the responsible choice to focus our work where our chances of success are greatest."
Dr. Kaihui Yang, the President, also added: "Asia Now will always focus on promising ventures. When we have received enough information to make a decision, we act immediately. The Company is currently focusing on its highest priorities - the Beiya and Habo projects where our work is concentrating on known mineralized zones."
About Asia Now Resources:
Asia Now Resources Corp. is a mineral exploration company active in China since 2002. The Company has established offices, joint ventures and a significant network with Chinese partners. Current projects include copper, gold and silver at two major projects, with drilling underway at both. Under the leadership of an experienced management team, the Company has a sound balance sheet and sufficient working capital to take exploration into the next phase.
The TSX Venture Exchange has not reviewed and does not accept responsibility for this news release.
Contacts
Kaihui Yang
Asia Now Resources Corp.
President
(416) 364-7281
info@asianow.ca
Christina Wilton
Asia Now Resources Corp.
Corporate Secretary
(416) 364-7281
info@asianow.ca
www.asianow.ca
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